Private Advisor Group LLC Buys 1,083 Shares of Baidu, Inc. (NASDAQ:BIDU)

Private Advisor Group LLC lifted its position in Baidu, Inc. (NASDAQ:BIDU) by 24.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,526 shares of the information services provider’s stock after acquiring an additional 1,083 shares during the period. Private Advisor Group LLC’s holdings in Baidu were worth $582,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the company. Crewe Advisors LLC bought a new position in shares of Baidu during the first quarter worth $31,000. iA Global Asset Management Inc. acquired a new stake in Baidu during the 2nd quarter worth $52,000. Denver PWM LLC bought a new position in Baidu during the second quarter worth about $67,000. Allspring Global Investments Holdings LLC grew its stake in Baidu by 630.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 687 shares of the information services provider’s stock valued at $72,000 after acquiring an additional 593 shares during the period. Finally, Grove Bank & Trust increased its holdings in shares of Baidu by 21.6% in the third quarter. Grove Bank & Trust now owns 731 shares of the information services provider’s stock worth $77,000 after acquiring an additional 130 shares in the last quarter.

Baidu Trading Down 1.3 %

Shares of Baidu stock opened at $90.02 on Monday. The stock has a market cap of $31.57 billion, a P/E ratio of 11.86 and a beta of 0.51. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 0.19. Baidu, Inc. has a 12-month low of $79.68 and a 12-month high of $126.23. The business’s 50 day moving average is $92.69 and its 200-day moving average is $94.22.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on BIDU shares. Hsbc Global Res cut Baidu from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 24th. Dbs Bank cut shares of Baidu from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 3rd. Jefferies Financial Group dropped their price objective on shares of Baidu from $174.00 to $139.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Bank of America reduced their target price on shares of Baidu from $128.00 to $117.00 and set a “buy” rating for the company in a research note on Friday, August 23rd. Finally, HSBC downgraded 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. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $128.36.

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.