Greenwood Capital Associates LLC increased its stake in shares of Baidu, Inc. (NASDAQ:BIDU - Free Report) by 36.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,976 shares of the information services provider's stock after purchasing an additional 10,501 shares during the quarter. Greenwood Capital Associates LLC's holdings in Baidu were worth $3,343,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in BIDU. Creekmur Asset Management LLC acquired a new stake in shares of Baidu during the 1st quarter valued at approximately $29,000. Assetmark Inc. increased its position in Baidu by 143.3% during the first quarter. Assetmark Inc. now owns 326 shares of the information services provider's stock worth $30,000 after purchasing an additional 192 shares during the last quarter. UMB Bank n.a. boosted its holdings in shares of Baidu by 80.3% in the 1st quarter. UMB Bank n.a. now owns 402 shares of the information services provider's stock valued at $37,000 after purchasing an additional 179 shares during the last quarter. CX Institutional purchased a new position in Baidu in the first quarter valued at approximately $49,000. Finally, Parallel Advisors LLC raised its holdings in shares of Baidu by 17.0% during the 2nd quarter. Parallel Advisors LLC now owns 935 shares of the information services provider's stock valued at $80,000 after buying an additional 136 shares during the period.
Baidu Price Performance
NASDAQ BIDU opened at $140.23 on Friday. Baidu, Inc. has a 1 year low of $74.71 and a 1 year high of $145.20. The stock's 50-day moving average price is $104.05 and its two-hundred day moving average price is $93.23. The company has a market cap of $48.44 billion, a PE ratio of 12.92 and a beta of 0.42. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.19.
Wall Street Analyst Weigh In
A number of brokerages have weighed in on BIDU. Barclays lowered their price objective on Baidu from $84.00 to $81.00 and set an "equal weight" rating for the company in a research note on Friday, July 18th. CLSA raised Baidu to a "strong-buy" rating in a report on Monday, September 22nd. Arete Research upgraded Baidu from a "sell" rating to a "buy" rating and set a $143.00 price objective for the company in a research note on Tuesday, September 16th. Citigroup increased their target price on Baidu from $138.00 to $140.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. Finally, Dbs Bank raised Baidu from a "hold" rating to a "buy" rating and lifted their price target for the company from $85.00 to $177.00 in a report on Thursday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $122.42.
Read Our Latest Report on Baidu
About Baidu
(
Free Report)
Baidu, Inc engages in the provision of internet search services in China. It operates through two segments: Baidu Core and iQIYI. The company offers Baidu App to access search, feed, and other services using mobile devices; Baidu Search to access its search and other services; Baidu Feed that provides users with personalized timeline based on their demographics and interests; Baidu Health that helps users to find the doctor and hospital for healthcare needs; and Haokan, a short video app.
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