Creative Planning lessened its holdings in shares of Baidu Inc (NASDAQ:BIDU) by 2.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 64,650 shares of the information services provider’s stock after selling 1,598 shares during the quarter. Creative Planning’s holdings in Baidu were worth $6,643,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in BIDU. Atlas Capital Advisors LLC purchased a new position in Baidu in the 3rd quarter worth approximately $25,000. Griffin Asset Management Inc. purchased a new position in shares of Baidu during the second quarter valued at approximately $27,000. Motco purchased a new position in shares of Baidu during the second quarter valued at approximately $28,000. Tower Research Capital LLC TRC purchased a new position in shares of Baidu during the second quarter valued at approximately $31,000. Finally, Regal Wealth Group Inc. purchased a new position in shares of Baidu during the third quarter valued at approximately $32,000. 56.45% of the stock is currently owned by institutional investors.
Baidu stock traded up $3.29 during mid-day trading on Friday, hitting $125.16. The company had a trading volume of 633,863 shares, compared to its average volume of 3,311,586. The company has a current ratio of 2.61, a quick ratio of 2.61 and a debt-to-equity ratio of 0.32. The stock’s 50 day moving average price is $104.33 and its two-hundred day moving average price is $115.78. Baidu Inc has a 12 month low of $93.39 and a 12 month high of $196.00. The company has a market capitalization of $37.75 billion, a PE ratio of 16.06, a price-to-earnings-growth ratio of 16.14 and a beta of 1.72.
Several equities analysts have recently issued reports on the company. Barclays boosted their target price on Baidu from $135.00 to $140.00 and gave the company an “equal weight” rating in a research note on Friday, October 25th. Daiwa Capital Markets raised Baidu from a “hold” rating to an “outperform” rating and boosted their target price for the company from $105.00 to $124.00 in a research note on Friday. BidaskClub cut Baidu from a “sell” rating to a “strong sell” rating in a research note on Friday, November 1st. Sanford C. Bernstein raised Baidu from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $118.00 to $139.00 in a research note on Friday. Finally, ValuEngine raised Baidu from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have given a buy rating to the stock. Baidu currently has an average rating of “Hold” and a consensus target price of $148.60.
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.
Further Reading: Cost of Equity For A Business, Investors
Receive News & Ratings for Baidu Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Baidu and related companies with MarketBeat.com's FREE daily email newsletter.