Arkadios Wealth Advisors Sells 3,762 Shares of Baidu, Inc. $BIDU

Arkadios Wealth Advisors lessened its position in Baidu, Inc. (NASDAQ:BIDU) by 60.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,464 shares of the information services provider’s stock after selling 3,762 shares during the quarter. Arkadios Wealth Advisors’ holdings in Baidu were worth $211,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in BIDU. Royal Bank of Canada lifted its position in shares of Baidu by 28.3% during the first quarter. Royal Bank of Canada now owns 160,713 shares of the information services provider’s stock worth $14,791,000 after purchasing an additional 35,479 shares during the last quarter. Capital Advisors Inc. OK purchased a new position in Baidu in the 2nd quarter worth about $1,715,000. Fluent Financial LLC lifted its holdings in Baidu by 16.2% during the 2nd quarter. Fluent Financial LLC now owns 23,606 shares of the information services provider’s stock valued at $2,024,000 after buying an additional 3,286 shares in the last quarter. ARK Investment Management LLC boosted its position in Baidu by 129.4% in the 2nd quarter. ARK Investment Management LLC now owns 294,447 shares of the information services provider’s stock valued at $25,252,000 after buying an additional 166,088 shares during the period. Finally, Greenwood Capital Associates LLC boosted its position in Baidu by 36.9% in the 2nd quarter. Greenwood Capital Associates LLC now owns 38,976 shares of the information services provider’s stock valued at $3,343,000 after buying an additional 10,501 shares during the period.

Baidu Price Performance

Shares of BIDU stock opened at $127.04 on Friday. The stock’s 50-day moving average is $122.76 and its 200 day moving average is $99.84. Baidu, Inc. has a 1-year low of $74.71 and a 1-year high of $149.51. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.85 and a quick ratio of 1.85. The company has a market cap of $43.89 billion, a P/E ratio of 11.71 and a beta of 0.43.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Arete Research raised shares of Baidu from a “sell” rating to a “buy” rating and set a $143.00 price target for the company in a research note on Tuesday, September 16th. Wall Street Zen downgraded Baidu from a “hold” rating to a “sell” rating in a report on Sunday, October 19th. Jefferies Financial Group upped their target price on Baidu from $108.00 to $157.00 and gave the stock a “buy” rating in a report on Wednesday, September 17th. Susquehanna increased their price target on Baidu from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 2nd. Finally, Citigroup restated a “buy” rating on shares of Baidu in a report on Monday, October 13th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $131.00.

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.