54,067 Shares in Baidu, Inc. $BIDU Bought by Capital Wealth Planning LLC

Capital Wealth Planning LLC acquired a new position in shares of Baidu, Inc. (NASDAQ:BIDU) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 54,067 shares of the information services provider’s stock, valued at approximately $7,064,000.

A number of other large investors also recently bought and sold shares of BIDU. Schroder Investment Management Group purchased a new position in Baidu during the 3rd quarter worth $165,334,000. RPD Fund Management LLC raised its position in Baidu by 161.6% during the 2nd quarter. RPD Fund Management LLC now owns 1,258,856 shares of the information services provider’s stock worth $107,959,000 after buying an additional 777,570 shares during the last quarter. Contrarius Group Holdings Ltd raised its position in Baidu by 500.3% during the 3rd quarter. Contrarius Group Holdings Ltd now owns 891,749 shares of the information services provider’s stock worth $117,506,000 after buying an additional 743,205 shares during the last quarter. Bank of America Corp DE raised its position in Baidu by 106.7% during the 3rd quarter. Bank of America Corp DE now owns 1,129,272 shares of the information services provider’s stock worth $148,804,000 after buying an additional 582,832 shares during the last quarter. Finally, Steadfast Capital Management LP purchased a new position in Baidu during the 3rd quarter worth $59,966,000.

Baidu Stock Down 3.0%

Shares of NASDAQ BIDU opened at $117.48 on Thursday. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.22. Baidu, Inc. has a 52 week low of $83.30 and a 52 week high of $165.30. The firm has a 50-day moving average price of $126.51 and a 200 day moving average price of $129.91. The stock has a market capitalization of $39.97 billion, a price-to-earnings ratio of -978.92, a price-to-earnings-growth ratio of 2.07 and a beta of 0.54.

Wall Street Analyst Weigh In

BIDU has been the subject of a number of analyst reports. Morgan Stanley upped their price objective on shares of Baidu from $135.00 to $140.00 in a research report on Tuesday, May 19th. BNP Paribas Exane initiated coverage on shares of Baidu in a research report on Wednesday, April 1st. They set an “outperform” rating and a $161.00 price objective for the company. Benchmark restated a “buy” rating and set a $215.00 price objective on shares of Baidu in a research report on Tuesday, May 19th. Nomura upped their price objective on shares of Baidu from $186.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday, May 20th. Finally, Wall Street Zen upgraded shares of Baidu from a “sell” rating to a “hold” rating in a research report on Monday, May 25th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $162.58.

Baidu Profile

Baidu, Inc, founded in 2000 and headquartered in Beijing, is a Chinese multinational technology company best known for operating one of China’s leading internet search engines. The company built its business around online search and related advertising services, providing search, content aggregation and targeted ad placements to consumers and marketers across China. Baidu went public on the NASDAQ in 2005 and has since diversified beyond search into a broader technology and AI-focused portfolio.

Core products and services include the Baidu search platform and mobile app, Baidu Maps and Baidu Baike (an online encyclopedia), along with digital content initiatives.