Strategic Wealth Investment Group LLC Has $954,000 Stake in Baidu, Inc. (NASDAQ:BIDU)

Strategic Wealth Investment Group LLC raised its holdings in Baidu, Inc. (NASDAQ:BIDU) by 114.0% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 8,647 shares of the information services provider’s stock after acquiring an additional 4,606 shares during the quarter. Strategic Wealth Investment Group LLC’s holdings in Baidu were worth $954,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC increased its position in Baidu by 28.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 5,883 shares of the information services provider’s stock worth $619,000 after purchasing an additional 1,307 shares in the last quarter. Cullinan Associates Inc. purchased a new stake in shares of Baidu in the first quarter valued at about $569,000. Naviter Wealth LLC increased its holdings in Baidu by 44.5% during the first quarter. Naviter Wealth LLC now owns 6,367 shares of the information services provider’s stock worth $670,000 after buying an additional 1,962 shares during the last quarter. JTC Employer Solutions Trustee Ltd boosted its position in Baidu by 26.5% during the first quarter. JTC Employer Solutions Trustee Ltd now owns 2,251 shares of the information services provider’s stock worth $236,000 after purchasing an additional 471 shares during the period. Finally, BNP Paribas Financial Markets boosted its position in shares of Baidu by 14.8% in the first quarter. BNP Paribas Financial Markets now owns 108,466 shares of the information services provider’s stock valued at $11,419,000 after acquiring an additional 14,007 shares during the period.

Baidu Stock Up 3.7 %

NASDAQ BIDU opened at $93.13 on Tuesday. The business has a fifty day moving average price of $92.33 and a 200 day moving average price of $94.34. Baidu, Inc. has a one year low of $79.68 and a one year high of $126.23. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.32 and a current ratio of 2.32. The company has a market cap of $32.66 billion, a P/E ratio of 12.47 and a beta of 0.49.

Wall Street Analysts Forecast Growth

Several research analysts have commented on BIDU shares. StockNews.com downgraded shares of Baidu from a “buy” rating to a “hold” rating in a research note on Friday. Dbs Bank lowered Baidu from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 3rd. Barclays reduced their target price on shares of Baidu from $125.00 to $115.00 and set an “overweight” rating for the company in a report on Friday, August 23rd. Sanford C. Bernstein downgraded Baidu from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $130.00 to $97.00 in a research report on Friday, August 23rd. Finally, Hsbc Global Res lowered Baidu from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 24th. Seven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $128.36.

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.