Baidu, Inc. $BIDU Shares Bought by Raymond James Financial Inc.

Raymond James Financial Inc. boosted its position in Baidu, Inc. (NASDAQ:BIDU - Free Report) by 88.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 78,045 shares of the information services provider's stock after purchasing an additional 36,564 shares during the quarter. Raymond James Financial Inc.'s holdings in Baidu were worth $7,182,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of BIDU. International Assets Investment Management LLC boosted its holdings in Baidu by 0.7% during the 1st quarter. International Assets Investment Management LLC now owns 16,100 shares of the information services provider's stock valued at $1,482,000 after acquiring an additional 114 shares during the period. UMB Bank n.a. boosted its stake 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 buying an additional 179 shares during the period. Assetmark Inc. boosted its stake in shares of Baidu by 143.3% in the 1st quarter. Assetmark Inc. now owns 326 shares of the information services provider's stock valued at $30,000 after buying an additional 192 shares during the period. Investors Research Corp boosted its stake in shares of Baidu by 20.5% in the 1st quarter. Investors Research Corp now owns 1,760 shares of the information services provider's stock valued at $162,000 after buying an additional 300 shares during the period. Finally, Harvest Fund Management Co. Ltd boosted its stake in shares of Baidu by 21.4% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 1,700 shares of the information services provider's stock valued at $156,000 after buying an additional 300 shares during the period.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on BIDU. Susquehanna lifted their price objective on Baidu from $85.00 to $95.00 and gave the company a "neutral" rating in a research note on Tuesday, September 2nd. Wall Street Zen cut Baidu from a "hold" rating to a "sell" rating in a research note on Friday, August 22nd. Benchmark decreased their target price on Baidu from $120.00 to $115.00 and set a "buy" rating for the company in a research note on Thursday, August 21st. Barclays decreased their target price 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. Finally, Macquarie restated a "neutral" rating on shares of Baidu in a research note on Wednesday, May 21st. Five equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $104.00.

Baidu Stock Performance

BIDU traded up $3.75 during trading on Friday, hitting $101.96. 7,269,151 shares of the stock were exchanged, compared to its average volume of 4,897,577. The firm has a market capitalization of $35.22 billion, a P/E ratio of 9.40 and a beta of 0.34. Baidu, Inc. has a 1-year low of $74.71 and a 1-year high of $116.25. The stock has a fifty day moving average price of $89.58 and a two-hundred day moving average price of $88.58. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.19.

About Baidu

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.