Mackenzie Financial Corp increased its stake in shares of Baidu, Inc. (NASDAQ:BIDU – Free Report) by 11.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,907 shares of the information services provider’s stock after purchasing an additional 199 shares during the period. Mackenzie Financial Corp’s holdings in Baidu were worth $273,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Cerity Partners LLC grew its stake in shares of Baidu by 4.5% during the first quarter. Cerity Partners LLC now owns 3,874 shares of the information services provider’s stock worth $582,000 after purchasing an additional 167 shares during the period. Acorn Financial Advisory Services Inc. ADV acquired a new stake in shares of Baidu during the first quarter worth $222,000. Intellectus Partners LLC grew its stake in shares of Baidu by 148.0% during the second quarter. Intellectus Partners LLC now owns 8,462 shares of the information services provider’s stock worth $1,159,000 after purchasing an additional 5,050 shares during the period. Psagot Value Holdings Ltd. Israel acquired a new stake in shares of Baidu during the first quarter worth $71,000. Finally, Fisher Asset Management LLC grew its stake in Baidu by 20.2% in the first quarter. Fisher Asset Management LLC now owns 10,891 shares of the information services provider’s stock valued at $1,644,000 after acquiring an additional 1,827 shares during the period. 21.22% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on BIDU shares. Benchmark reissued a “buy” rating and issued a $210.00 target price on shares of Baidu in a research note on Tuesday, October 31st. Citigroup boosted their target price on Baidu from $181.00 to $182.00 and gave the company a “buy” rating in a research note on Wednesday, August 23rd. Sanford C. Bernstein boosted their target price on Baidu from $160.00 to $168.00 and gave the company an “outperform” rating in a research note on Monday, September 25th. JPMorgan Chase & Co. cut their price target on Baidu from $200.00 to $185.00 and set an “overweight” rating on the stock in a report on Thursday, October 19th. Finally, The Goldman Sachs Group upgraded Baidu from a “buy” rating to a “conviction-buy” rating in a report on Sunday, July 16th. Fifteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $183.81.
Baidu Stock Performance
BIDU opened at $107.42 on Thursday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.84 and a current ratio of 2.84. The business’s 50-day simple moving average is $125.64 and its 200 day simple moving average is $132.11. The firm has a market capitalization of $37.12 billion, a PE ratio of 17.55, a PEG ratio of 0.30 and a beta of 0.73. Baidu, Inc. has a 52-week low of $78.86 and a 52-week high of $160.88.
Baidu, Inc offers internet search services in China. It operates through Baidu Core and iQIYI segments. 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.
- Five stocks we like better than Baidu
- How to Start Investing in Penny Stocks
- Investing in large cap stocks: Diving into big caps
- What is the NASDAQ Stock Exchange?
- Why you can make Vertex Pharmaceuticals a buy on any pullback
- Options Trading – Understanding Strike Price
- Occidental Petroleum: Another bounce from the buy zone
Receive News & Ratings for Baidu Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Baidu and related companies with MarketBeat.com's FREE daily email newsletter.