LPL Financial LLC Sells 1,788 Shares of Baidu, Inc. (NASDAQ:BIDU)

LPL Financial LLC trimmed its holdings in Baidu, Inc. (NASDAQ:BIDU – Get Rating) by 3.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 44,660 shares of the information services provider’s stock after selling 1,788 shares during the quarter. LPL Financial LLC’s holdings in Baidu were worth $5,108,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. JDM Financial Group LLC bought a new position in shares of Baidu in the fourth quarter valued at about $37,000. Wipfli Financial Advisors LLC bought a new stake in Baidu during the 3rd quarter worth about $42,000. Clear Street Markets LLC bought a new stake in Baidu during the 3rd quarter worth about $53,000. Janiczek Wealth Management LLC raised its holdings in Baidu by 40.4% during the 4th quarter. Janiczek Wealth Management LLC now owns 692 shares of the information services provider’s stock worth $94,000 after purchasing an additional 199 shares during the last quarter. Finally, Asset Management One Co. Ltd. raised its holdings in Baidu by 13.7% during the 4th quarter. Asset Management One Co. Ltd. now owns 1,181 shares of the information services provider’s stock worth $136,000 after purchasing an additional 142 shares during the last quarter. 23.06% of the stock is owned by institutional investors.

Baidu Stock Up 6.3 %

BIDU opened at $127.61 on Tuesday. Baidu, Inc. has a 1-year low of $73.58 and a 1-year high of $160.88. The stock’s fifty day simple moving average is $134.96 and its 200 day simple moving average is $125.69. The company has a current ratio of 2.67, a quick ratio of 2.67 and a debt-to-equity ratio of 0.28. The stock has a market cap of $44.09 billion, a PE ratio of 44.16, a price-to-earnings-growth ratio of 0.77 and a beta of 0.67.

Baidu announced that its board has authorized a share buyback program on Wednesday, February 22nd that permits the company to buyback $0.00 in shares. This buyback authorization permits the information services provider to reacquire shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

A number of brokerages have recently commented on BIDU. Susquehanna upped their price target on Baidu from $150.00 to $175.00 and gave the company a “positive” rating in a research note on Tuesday, February 28th. JPMorgan Chase & Co. started coverage on Baidu in a research report on Thursday, March 23rd. They issued an “overweight” rating for the company. Citigroup boosted their price objective on Baidu from $176.00 to $191.00 and gave the company a “buy” rating in a research report on Thursday, February 23rd. Mizuho decreased their price objective on Baidu from $190.00 to $170.00 in a research report on Tuesday, May 9th. Finally, Daiwa Capital Markets upped their price target on Baidu from $200.00 to $215.00 in a research report on Monday, April 3rd. Two research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $184.82.

Baidu Profile

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Baidu, Inc engages in the provision of internet search and online marketing solutions. The firm’s products and services include Baidu App, Baidu Search, Baidu Feed, Haokan, Quanmin, Baidu Post Bar, Baidu Knows, Baidu Encyclopedia, Baidu Input Method Editor or Baidu IME and Overseas Products. It operates through the following segments: Baidu Core and iQIYI.