Raymond James Financial Inc. purchased a new position in Baidu, Inc. (NASDAQ:BIDU - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 41,481 shares of the information services provider's stock, valued at approximately $3,497,000.
Other large investors have also recently made changes to their positions in the company. Rialto Wealth Management LLC acquired a new stake in Baidu during the 4th quarter worth $42,000. Sycomore Asset Management purchased a new stake in Baidu during the 4th quarter valued at about $51,000. World Investment Advisors LLC acquired a new stake in shares of Baidu in the third quarter valued at approximately $72,000. Denver PWM LLC boosted its stake in Baidu by 28.5% during the third quarter. Denver PWM LLC now owns 991 shares of the information services provider's stock worth $104,000 after buying an additional 220 shares during the last quarter. Finally, Retireful LLC purchased a new stake in Baidu in the 4th quarter valued at $205,000.
Baidu Stock Performance
Baidu stock traded down $1.64 during midday trading on Wednesday, hitting $87.82. 2,118,410 shares of the company's stock were exchanged, compared to its average volume of 4,133,720. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.19 and a current ratio of 2.09. The stock has a market cap of $30.34 billion, a price-to-earnings ratio of 9.58, a price-to-earnings-growth ratio of 2.96 and a beta of 0.33. Baidu, Inc. has a 12-month low of $74.71 and a 12-month high of $116.25. The firm's 50 day simple moving average is $89.20 and its 200 day simple moving average is $88.31.
Analysts Set New Price Targets
BIDU has been the subject of several analyst reports. Daiwa Capital Markets reiterated an "outperform" rating on shares of Baidu in a research report on Tuesday, February 18th. Sanford C. Bernstein reissued a "market perform" rating on shares of Baidu in a research note on Saturday, March 8th. Nomura Securities lowered Baidu from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, February 19th. StockNews.com lowered Baidu from a "buy" rating to a "hold" rating in a research report on Wednesday, February 19th. Finally, Nomura downgraded Baidu from a "buy" rating to a "neutral" rating in a research report on Wednesday, February 19th. Thirteen research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, Baidu has a consensus rating of "Hold" and a consensus target price of $110.83.
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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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