L & S Advisors Inc Takes Position in Baidu, Inc. (NASDAQ:BIDU)

L & S Advisors Inc bought a new stake in shares of Baidu, Inc. (NASDAQ:BIDU) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 15,923 shares of the information services provider’s stock, valued at approximately $1,677,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BIDU. Massachusetts Financial Services Co. MA increased its stake in Baidu by 0.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 198,393 shares of the information services provider’s stock worth $20,889,000 after buying an additional 906 shares during the period. Primecap Management Co. CA raised its position in shares of Baidu by 1.5% in the 3rd quarter. Primecap Management Co. CA now owns 12,123,856 shares of the information services provider’s stock valued at $1,276,521,000 after purchasing an additional 176,150 shares during the last quarter. Pzena Investment Management LLC raised its position in Baidu by 6.6% during the 3rd quarter. Pzena Investment Management LLC now owns 330,131 shares of the information services provider’s stock worth $34,759,000 after buying an additional 20,550 shares during the last quarter. Advisors Asset Management Inc. increased its holdings in shares of Baidu by 5.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 2,818 shares of the information services provider’s stock valued at $297,000 after purchasing an additional 140 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Baidu during the 3rd quarter valued at approximately $1,054,000.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Hsbc Global Res cut shares of Baidu from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Benchmark lowered their price target on Baidu from $180.00 to $135.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Barclays decreased their price objective on Baidu from $125.00 to $115.00 and set an “overweight” rating for the company in a report on Friday, August 23rd. Mizuho cut their price target on Baidu from $130.00 to $115.00 and set an “outperform” rating for the company in a research note on Tuesday, November 12th. Finally, Sanford C. Bernstein cut Baidu from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $130.00 to $97.00 in a research report on Friday, August 23rd. Seven analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $127.29.

Baidu Stock Performance

Baidu stock opened at $81.63 on Friday. The stock’s 50-day moving average is $93.77 and its 200-day moving average is $92.89. The company has a market cap of $28.62 billion, a price-to-earnings ratio of 10.75 and a beta of 0.51. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.32 and a quick ratio of 2.32. Baidu, Inc. has a 12 month low of $79.68 and a 12 month high of $126.23.

Baidu Company 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.