1,546 Shares in Baidu, Inc. (NASDAQ:BIDU) Acquired by Farmer Steven Patrick

Farmer Steven Patrick purchased a new position in Baidu, Inc. (NASDAQ:BIDUGet Rating) during the second quarter, HoldingsChannel reports. The fund purchased 1,546 shares of the information services provider’s stock, valued at approximately $230,000.

A number of other institutional investors and hedge funds have also modified their holdings of BIDU. Bank of America Corp DE grew its holdings in Baidu by 63.4% during the 1st quarter. Bank of America Corp DE now owns 758,170 shares of the information services provider’s stock valued at $100,307,000 after buying an additional 294,082 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Baidu by 10.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 469,015 shares of the information services provider’s stock worth $62,050,000 after buying an additional 45,334 shares during the period. Kestra Private Wealth Services LLC raised its position in shares of Baidu by 13.5% in the 1st quarter. Kestra Private Wealth Services LLC now owns 2,006 shares of the information services provider’s stock worth $265,000 after buying an additional 239 shares during the period. The Manufacturers Life Insurance Company raised its position in Baidu by 5.5% in the first quarter. The Manufacturers Life Insurance Company now owns 51,855 shares of the information services provider’s stock valued at $6,860,000 after purchasing an additional 2,725 shares during the period. Finally, Toroso Investments LLC raised its position in Baidu by 1.9% in the first quarter. Toroso Investments LLC now owns 64,809 shares of the information services provider’s stock valued at $8,574,000 after purchasing an additional 1,185 shares during the period. Institutional investors and hedge funds own 26.55% of the company’s stock.

Baidu Trading Down 2.8 %

NASDAQ BIDU opened at $123.69 on Friday. Baidu, Inc. has a twelve month low of $101.62 and a twelve month high of $182.60. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.75 and a current ratio of 2.75. The stock has a market cap of $42.74 billion, a price-to-earnings ratio of -21.59, a PEG ratio of 0.95 and a beta of 0.66. The firm’s 50 day moving average price is $138.26 and its two-hundred day moving average price is $136.83.

Analysts Set New Price Targets

Several analysts have recently weighed in on BIDU shares. Barclays lowered their target price on Baidu from $243.00 to $235.00 and set an “overweight” rating for the company in a research note on Friday, May 27th. UBS Group started coverage on Baidu in a report on Friday. They set a “buy” rating on the stock. Benchmark cut their price target on Baidu from $330.00 to $270.00 and set a “buy” rating on the stock in a report on Friday, May 27th. Citigroup cut their price target on Baidu from $223.00 to $204.00 and set a “buy” rating on the stock in a report on Wednesday, August 31st. Finally, Macquarie started coverage on Baidu in a report on Tuesday, August 23rd. They set an “outperform” rating and a $188.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $217.87.

About Baidu

(Get Rating)

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; and Haokan, a short video app.

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Institutional Ownership by Quarter for Baidu (NASDAQ:BIDU)

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