Stifel Financial Corp Buys 34,145 Shares of Baidu, Inc. (NASDAQ:BIDU)

Stifel Financial Corp lifted its position in shares of Baidu, Inc. (NASDAQ:BIDU) by 82.5% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 75,546 shares of the information services provider’s stock after buying an additional 34,145 shares during the quarter. Stifel Financial Corp’s holdings in Baidu were worth $7,954,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of BIDU. Swedbank AB raised its holdings in shares of Baidu by 4.8% during the second quarter. Swedbank AB now owns 43,327 shares of the information services provider’s stock valued at $3,747,000 after purchasing an additional 2,000 shares during the period. Blue Trust Inc. raised its stake in Baidu by 9.0% in 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 position in shares of Baidu by 12.9% during the 2nd quarter. Intellectus Partners LLC now owns 16,288 shares of the information services provider’s stock valued at $1,409,000 after purchasing an additional 1,865 shares during the last quarter. Raymond James & Associates boosted its stake in shares of Baidu by 31.4% in the 2nd quarter. Raymond James & Associates now owns 14,368 shares of the information services provider’s stock valued at $1,243,000 after purchasing an additional 3,432 shares in the last quarter. Finally, Summit Global Investments bought a new stake in Baidu during the 2nd quarter valued at $1,189,000.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on BIDU. StockNews.com cut Baidu from a “buy” rating to a “hold” rating in a research note on Thursday. Sanford C. Bernstein downgraded shares of Baidu from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $130.00 to $97.00 in a report on Friday, August 23rd. Hsbc Global Res cut shares of Baidu from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Benchmark reduced their price objective on Baidu from $135.00 to $130.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. Finally, Bank of America lowered their price target on shares of Baidu from $128.00 to $117.00 and set a “buy” rating for the company in a report on Friday, August 23rd. Eleven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Baidu presently has a consensus rating of “Hold” and an average price target of $113.75.

Baidu Stock Up 1.1 %

Shares of NASDAQ:BIDU opened at $90.32 on Friday. The firm has a market cap of $31.67 billion, a price-to-earnings ratio of 11.06, a PEG ratio of 1.13 and a beta of 0.46. The stock’s 50-day moving average price is $91.28 and its two-hundred day moving average price is $90.57. Baidu, Inc. has a 12-month low of $78.95 and a 12-month high of $120.25. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 0.18.

Baidu Company 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.