Cerity Partners LLC Acquires New Shares in Baidu, Inc. (NASDAQ:BIDU)

Cerity Partners LLC acquired a new stake in Baidu, Inc. (NASDAQ:BIDUGet Rating) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 3,053 shares of the information services provider’s stock, valued at approximately $454,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Qtron Investments LLC raised its holdings in Baidu by 28.2% in the 2nd quarter. Qtron Investments LLC now owns 20,604 shares of the information services provider’s stock worth $3,064,000 after acquiring an additional 4,535 shares during the period. SeaCrest Wealth Management LLC bought a new position in Baidu in the 2nd quarter worth $97,000. Lazard Asset Management LLC raised its holdings in Baidu by 21.4% in the 2nd quarter. Lazard Asset Management LLC now owns 297,744 shares of the information services provider’s stock worth $44,281,000 after acquiring an additional 52,476 shares during the period. TIAA FSB bought a new position in Baidu in the 2nd quarter worth $227,000. Finally, Keebeck Alpha LP raised its holdings in Baidu by 8.8% in the 2nd quarter. Keebeck Alpha LP now owns 2,537 shares of the information services provider’s stock worth $377,000 after acquiring an additional 205 shares during the period. Institutional investors and hedge funds own 26.55% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Barclays dropped their target price on shares of Baidu from $146.00 to $139.00 and set an “overweight” rating on the stock in a report on Friday, October 28th. Jefferies Financial Group dropped their price objective on shares of Baidu from $236.00 to $217.00 in a report on Thursday, October 13th. Mizuho dropped their price objective on shares of Baidu from $275.00 to $200.00 in a report on Monday, November 14th. UBS Group assumed coverage on shares of Baidu in a report on Friday, September 16th. They set a “buy” rating on the stock. Finally, Macquarie assumed coverage on shares of Baidu in a report on Tuesday, August 23rd. They set an “outperform” rating and a $188.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, Baidu currently has a consensus rating of “Moderate Buy” and a consensus target price of $199.93.

Baidu Stock Performance

NASDAQ BIDU opened at $95.97 on Friday. The stock has a market cap of $33.16 billion, a P/E ratio of -16.75, a PEG ratio of 0.75 and a beta of 0.56. The company’s 50-day simple moving average is $103.86 and its 200 day simple moving average is $125.94. Baidu, Inc. has a twelve month low of $73.58 and a twelve month high of $171.87. The company has a quick ratio of 2.75, a current ratio of 2.75 and a debt-to-equity ratio of 0.29.

Baidu Company Profile

(Get Rating)

Baidu, Inc engages in the provision of internet search and online marketing solutions. The firm’s products and services include Baidu App, Baidu Search, Baidu Feed, Haokan, Quanmin, Baidu Post Bar, Baidu Knows, Baidu Encyclopedia, Baidu Input Method Editor or Baidu IME and Overseas Products. It operates through the following segments: Baidu Core and iQIYI.

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Institutional Ownership by Quarter for Baidu (NASDAQ:BIDU)

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