Baidu, Inc. (NASDAQ:BIDU) Shares Bought by Naviter Wealth LLC

Naviter Wealth LLC lifted its position in shares of Baidu, Inc. (NASDAQ:BIDU) by 17.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,660 shares of the information services provider’s stock after acquiring an additional 1,260 shares during the quarter. Naviter Wealth LLC’s holdings in Baidu were worth $912,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of BIDU. Fisher Asset Management LLC increased its holdings in Baidu by 39.8% in the 4th quarter. Fisher Asset Management LLC now owns 11,013 shares of the information services provider’s stock worth $1,312,000 after acquiring an additional 3,134 shares in the last quarter. Park Avenue Securities LLC acquired a new position in shares of Baidu during the 1st quarter worth about $559,000. Ignite Planners LLC boosted its holdings in Baidu by 3.8% in the 1st quarter. Ignite Planners LLC now owns 3,791 shares of the information services provider’s stock worth $411,000 after buying an additional 139 shares during the last quarter. ARGA Investment Management LP boosted its holdings in Baidu by 6.5% in the 1st quarter. ARGA Investment Management LP now owns 1,022,883 shares of the information services provider’s stock worth $107,689,000 after buying an additional 62,830 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its stake in Baidu by 28.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 5,883 shares of the information services provider’s stock worth $619,000 after buying an additional 1,307 shares in the last quarter.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on BIDU shares. HSBC lowered Baidu from a “buy” rating to a “hold” rating and set a $100.00 price target on the stock. in a research note on Tuesday, September 24th. Barclays dropped their target price on shares of Baidu from $125.00 to $115.00 and set an “overweight” rating for the company in a report on Friday, August 23rd. Hsbc Global Res downgraded shares of Baidu from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Loop Capital dropped their price objective on shares of Baidu from $120.00 to $115.00 and set a “buy” rating for the company in a research note on Monday, August 26th. Finally, Benchmark decreased their target price on shares of Baidu from $180.00 to $135.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $132.13.

Baidu Stock Down 3.3 %

Shares of NASDAQ:BIDU opened at $92.11 on Friday. The company has a market capitalization of $32.30 billion, a price-to-earnings ratio of 12.33 and a beta of 0.49. Baidu, Inc. has a 12-month low of $79.68 and a 12-month high of $126.23. The business has a 50-day moving average price of $91.64 and a 200 day moving average price of $95.19. The company has a current ratio of 2.32, a quick ratio of 2.32 and a debt-to-equity ratio of 0.19.

Baidu Profile

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.