Sanders Capital LLC Boosts Stock Position in Baidu, Inc. (NASDAQ:BIDU)

Sanders Capital LLC boosted its holdings in shares of Baidu, Inc. (NASDAQ:BIDU) by 0.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,605,728 shares of the information services provider’s stock after purchasing an additional 18,334 shares during the period. Sanders Capital LLC’s holdings in Baidu were worth $274,357,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. iA Global Asset Management Inc. bought a new stake in shares of Baidu during the 2nd quarter valued at about $52,000. Denver PWM LLC purchased a new stake in Baidu in the second quarter worth about $67,000. Allspring Global Investments Holdings LLC grew its holdings in shares of Baidu by 630.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 687 shares of the information services provider’s stock worth $72,000 after acquiring an additional 593 shares during the period. Grove Bank & Trust lifted its stake in shares of Baidu by 21.6% in the 3rd quarter. Grove Bank & Trust now owns 731 shares of the information services provider’s stock valued at $77,000 after purchasing an additional 130 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Baidu by 102.2% during the second quarter. EverSource Wealth Advisors LLC now owns 1,098 shares of the information services provider’s stock valued at $97,000 after purchasing an additional 555 shares in the last quarter.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Hsbc Global Res downgraded shares of Baidu from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Mizuho dropped their price target on Baidu from $130.00 to $115.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 12th. Benchmark dropped their target price on Baidu from $135.00 to $130.00 and set a “buy” rating on the stock in a report on Friday. Barclays downgraded shares of Baidu from an “overweight” rating to an “equal weight” rating in a research report on Friday. Finally, Dbs Bank cut Baidu from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 3rd. Ten investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $114.92.

Baidu Stock Up 1.1 %

BIDU opened at $83.62 on Tuesday. Baidu, Inc. has a 52 week low of $78.95 and a 52 week high of $126.23. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 0.18. The firm has a 50-day simple moving average of $93.67 and a two-hundred day simple moving average of $92.22. The company has a market capitalization of $29.32 billion, a PE ratio of 10.12, a price-to-earnings-growth ratio of 1.03 and a beta of 0.51.

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.