Optimum Investment Advisors reduced its position in Baidu Inc (NASDAQ:BIDU) by 66.7% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 775 shares of the information services provider’s stock after selling 1,550 shares during the quarter. Optimum Investment Advisors’ holdings in Baidu were worth $80,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Griffin Asset Management Inc. acquired a new position in Baidu in the 2nd quarter valued at $27,000. Motco acquired a new position in shares of Baidu during the 2nd quarter worth $28,000. Tower Research Capital LLC TRC acquired a new position in shares of Baidu during the 2nd quarter worth $31,000. Westside Investment Management Inc. acquired a new position in shares of Baidu during the 2nd quarter worth $33,000. Finally, Pinnacle Bank grew its stake in shares of Baidu by 61.7% during the 3rd quarter. Pinnacle Bank now owns 333 shares of the information services provider’s stock worth $34,000 after purchasing an additional 127 shares during the period. 56.73% of the stock is currently owned by institutional investors.
A number of research firms have recently weighed in on BIDU. UBS Group reaffirmed a “hold” rating and set a $145.00 price target on shares of Baidu in a research note on Friday, July 5th. Jefferies Financial Group set a $133.00 price target on shares of Baidu and gave the stock a “buy” rating in a research note on Friday. Credit Suisse Group reaffirmed an “outperform” rating on shares of Baidu in a research note on Wednesday, July 17th. Nomura lowered their price target on shares of Baidu from $134.00 to $118.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 21st. Finally, Benchmark lowered their price target on shares of Baidu to $165.00 and set a “buy” rating on the stock in a research note on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $149.58.
Shares of NASDAQ BIDU opened at $103.74 on Monday. The stock has a market cap of $37.61 billion, a price-to-earnings ratio of 13.30, a PEG ratio of 14.11 and a beta of 1.74. Baidu Inc has a 52 week low of $93.39 and a 52 week high of $206.25. The company’s 50-day moving average price is $104.77 and its 200 day moving average price is $122.70. The company has a current ratio of 2.61, a quick ratio of 2.61 and a debt-to-equity ratio of 0.32.
Baidu, Inc provides Internet search services in China and internationally. It operates through two segments, Baidu Core and iQIYI. The Baidu Core segment offers products for uses, including Baidu App to access search, feed, and other services using mobile devices; Baidu Search to access its search and other services through its other properties and Union partners; Baidu Feed that provides users with personalized timeline based on their demographics and interests; Haokan, a short video app; and Quanmin, a flash video app for users to create and share short videos.
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