Baidu, Inc. (NASDAQ:BIDU) Position Increased by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA raised its position in Baidu, Inc. (NASDAQ:BIDU) by 0.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 198,393 shares of the information services provider’s stock after purchasing an additional 906 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.06% of Baidu worth $20,889,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of BIDU. Advisors Asset Management Inc. increased its holdings in Baidu by 8.2% in the first quarter. Advisors Asset Management Inc. now owns 2,583 shares of the information services provider’s stock worth $272,000 after buying an additional 196 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Baidu by 9.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,017,341 shares of the information services provider’s stock worth $107,107,000 after purchasing an additional 84,776 shares during the last quarter. Silvercrest Asset Management Group LLC raised its holdings in shares of Baidu by 1.5% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 26,019 shares of the information services provider’s stock valued at $2,739,000 after purchasing an additional 379 shares in the last quarter. Swedbank AB acquired a new stake in shares of Baidu in the 1st quarter valued at $4,351,000. Finally, Cetera Investment Advisers boosted its holdings in Baidu by 1,119.9% in the first quarter. Cetera Investment Advisers now owns 31,011 shares of the information services provider’s stock worth $3,265,000 after purchasing an additional 28,469 shares in the last quarter.

Baidu Trading Up 2.9 %

Shares of BIDU opened at $82.67 on Tuesday. The stock’s 50-day moving average price is $93.67 and its 200 day moving average price is $92.22. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 0.18. Baidu, Inc. has a 12-month low of $78.95 and a 12-month high of $126.23. The firm has a market capitalization of $28.99 billion, a price-to-earnings ratio of 10.12, a P/E/G ratio of 1.03 and a beta of 0.51.

Analyst Ratings Changes

Several analysts have recently issued reports on BIDU shares. China Renaissance downgraded Baidu from a “buy” rating to a “hold” rating and set a $86.00 price target for the company. in a research note on Monday. Jefferies Financial Group decreased their target price on Baidu from $174.00 to $139.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Benchmark dropped their price target on shares of Baidu from $135.00 to $130.00 and set a “buy” rating on the stock in a research report on Friday. Sanford C. Bernstein lowered shares of Baidu from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $130.00 to $97.00 in a research note on Friday, August 23rd. Finally, Mizuho cut their target price on shares of Baidu from $130.00 to $115.00 and set an “outperform” rating for the company in a research report on Tuesday, November 12th. Ten analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $114.92.

About Baidu

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.