Janney Montgomery Scott LLC acquired a new position in shares of Baidu, Inc. (NASDAQ:BIDU - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 2,974 shares of the information services provider's stock, valued at approximately $274,000.
Several other large investors have also recently modified their holdings of the company. Dodge & Cox increased its stake in Baidu by 0.4% during the 4th quarter. Dodge & Cox now owns 5,916,215 shares of the information services provider's stock valued at $498,796,000 after purchasing an additional 22,000 shares in the last quarter. Pictet Asset Management Holding SA increased its stake in Baidu by 9.4% during the 4th quarter. Pictet Asset Management Holding SA now owns 2,410,307 shares of the information services provider's stock valued at $203,213,000 after purchasing an additional 207,966 shares in the last quarter. Appaloosa LP increased its stake in Baidu by 7.2% during the 4th quarter. Appaloosa LP now owns 1,527,909 shares of the information services provider's stock valued at $128,818,000 after purchasing an additional 102,909 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Baidu by 0.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,350,315 shares of the information services provider's stock valued at $113,845,000 after purchasing an additional 4,236 shares in the last quarter. Finally, CoreView Capital Management Ltd increased its stake in Baidu by 2.0% during the 4th quarter. CoreView Capital Management Ltd now owns 1,262,003 shares of the information services provider's stock valued at $106,399,000 after purchasing an additional 25,220 shares in the last quarter.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on BIDU. Benchmark cut their price target on shares of Baidu from $130.00 to $120.00 and set a "buy" rating on the stock in a research note on Thursday, May 22nd. Barclays set a $84.00 price target on shares of Baidu and gave the company an "equal weight" rating in a research note on Thursday, May 22nd. Citigroup cut their price objective on shares of Baidu from $139.00 to $138.00 and set a "buy" rating on the stock in a research note on Thursday, May 22nd. Macquarie reiterated a "neutral" rating on shares of Baidu in a research note on Wednesday, May 21st. Finally, Sanford C. Bernstein reiterated a "market perform" rating on shares of Baidu in a research note on Saturday, March 8th. Twelve equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Baidu has an average rating of "Hold" and an average price target of $107.82.
Read Our Latest Research Report on Baidu
Baidu Stock Performance
BIDU stock traded down $0.08 during midday trading on Friday, hitting $86.37. 1,167,623 shares of the stock traded hands, compared to its average volume of 4,097,154. The firm has a market cap of $29.83 billion, a P/E ratio of 8.57 and a beta of 0.33. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.29 and a quick ratio of 2.29. The stock's fifty day simple moving average is $86.77 and its 200-day simple moving average is $87.60. Baidu, Inc. has a 1-year low of $74.71 and a 1-year high of $116.25.
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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