B. Riley Wealth Advisors Inc. Boosts Stake in Baidu, Inc. (NASDAQ:BIDU)

B. Riley Wealth Advisors Inc. boosted its stake in Baidu, Inc. (NASDAQ:BIDU) by 134.4% in the 3rd quarter, Holdings Channel reports. The firm owned 16,421 shares of the information services provider’s stock after purchasing an additional 9,415 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Baidu were worth $1,739,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the company. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Baidu in the 3rd quarter valued at $1,054,000. Fred Alger Management LLC acquired a new position in Baidu in the 3rd quarter valued at about $790,000. Handelsbanken Fonder AB lifted its position in shares of Baidu by 8.9% during the third quarter. Handelsbanken Fonder AB now owns 182,817 shares of the information services provider’s stock worth $19,249,000 after purchasing an additional 15,000 shares in the last quarter. Maple Rock Capital Partners Inc. purchased a new position in shares of Baidu in the third quarter valued at approximately $42,748,000. Finally, Clear Harbor Asset Management LLC grew its holdings in shares of Baidu by 82.9% in the third quarter. Clear Harbor Asset Management LLC now owns 20,503 shares of the information services provider’s stock valued at $2,159,000 after purchasing an additional 9,292 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. HSBC lowered shares of Baidu from a “buy” rating to a “hold” rating and set a $100.00 target price on the stock. in a report on Tuesday, September 24th. Barclays lowered Baidu from an “overweight” rating to an “equal weight” rating in a report on Friday, November 22nd. Jefferies Financial Group cut their price target on Baidu from $174.00 to $139.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. StockNews.com cut Baidu from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Finally, Sanford C. Bernstein lowered shares of Baidu from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $130.00 to $97.00 in a research note on Friday, August 23rd. Eleven analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Baidu has an average rating of “Hold” and an average target price of $113.75.

Baidu Price Performance

Shares of NASDAQ:BIDU opened at $88.34 on Tuesday. Baidu, Inc. has a 12 month low of $78.95 and a 12 month high of $120.25. The firm has a market capitalization of $30.98 billion, a P/E ratio of 10.81, a P/E/G ratio of 1.19 and a beta of 0.46. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.19 and a quick ratio of 2.19. The company’s fifty day moving average price is $89.98 and its 200 day moving average price is $90.31.

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.