Baidu, Inc. (NASDAQ:BIDU) Stake Increased by National Bank of Canada FI

National Bank of Canada FI increased its holdings in shares of Baidu, Inc. (NASDAQ:BIDU) by 10.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 118,886 shares of the information services provider’s stock after buying an additional 11,634 shares during the quarter. National Bank of Canada FI’s holdings in Baidu were worth $12,518,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of BIDU. Grove Bank & Trust grew its stake in Baidu by 21.6% during the 3rd quarter. Grove Bank & Trust now owns 731 shares of the information services provider’s stock valued at $77,000 after acquiring an additional 130 shares in the last quarter. Advisors Asset Management Inc. boosted its holdings in shares of Baidu by 5.2% during the third quarter. Advisors Asset Management Inc. now owns 2,818 shares of the information services provider’s stock worth $297,000 after purchasing an additional 140 shares during the period. Blue Trust Inc. grew its position in Baidu by 9.0% during the second quarter. Blue Trust Inc. now owns 2,078 shares of the information services provider’s stock valued at $180,000 after purchasing an additional 171 shares in the last quarter. Intellectus Partners LLC increased its stake in Baidu by 1.5% in the 3rd quarter. Intellectus Partners LLC now owns 16,538 shares of the information services provider’s stock valued at $1,741,000 after buying an additional 250 shares during the period. Finally, Ridgewood Investments LLC lifted its position in Baidu by 5.3% in the 2nd quarter. Ridgewood Investments LLC now owns 6,900 shares of the information services provider’s stock worth $597,000 after buying an additional 349 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on BIDU. JPMorgan Chase & Co. downgraded shares of Baidu from an “overweight” rating to a “neutral” rating in a research note on Wednesday, November 27th. Susquehanna downgraded Baidu from a “positive” rating to a “neutral” rating and cut their price target for the stock from $105.00 to $85.00 in a research note on Monday, November 25th. Sanford C. Bernstein lowered Baidu from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $130.00 to $97.00 in a report on Friday, August 23rd. China Renaissance downgraded Baidu from a “buy” rating to a “hold” rating and set a $86.00 price objective on the stock. in a report on Monday, November 25th. Finally, Benchmark reduced their target price on shares of Baidu from $135.00 to $130.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Eleven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $113.75.

Baidu Trading Down 4.1 %

Baidu stock opened at $89.21 on Wednesday. Baidu, Inc. has a 52 week low of $78.95 and a 52 week high of $120.25. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.19 and a current ratio of 2.19. The firm has a market capitalization of $31.28 billion, a PE ratio of 10.92, a PEG ratio of 1.13 and a beta of 0.46. The business’s 50-day simple moving average is $92.21 and its 200-day simple moving average is $90.66.

Baidu 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.