National Bank of Canada FI Acquires 900,284 Shares of Baidu, Inc. (NASDAQ:BIDU)

National Bank of Canada FI lifted its stake in shares of Baidu, Inc. (NASDAQ:BIDU) by 90,390.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 901,280 shares of the information services provider’s stock after buying an additional 900,284 shares during the quarter. National Bank of Canada FI’s holdings in Baidu were worth $103,953,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the company. Bruce G. Allen Investments LLC bought a new position in Baidu during the 4th quarter valued at approximately $25,000. Headinvest LLC bought a new position in Baidu in the 3rd quarter worth about $36,000. FNY Investment Advisers LLC purchased a new stake in Baidu during the 4th quarter valued at about $42,000. ING Groep NV raised its holdings in Baidu by 103.2% in the third quarter. ING Groep NV now owns 443 shares of the information services provider’s stock worth $60,000 after buying an additional 225 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new position in Baidu in the third quarter worth about $73,000.

Baidu Stock Performance

Shares of NASDAQ:BIDU traded up $1.66 during midday trading on Friday, hitting $113.41. The company had a trading volume of 3,724,504 shares, compared to its average volume of 3,581,455. The company has a market cap of $39.77 billion, a price-to-earnings ratio of 14.69 and a beta of 0.68. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.01 and a quick ratio of 3.01. The company has a fifty day moving average of $103.01 and a two-hundred day moving average of $108.03. Baidu, Inc. has a 12-month low of $94.25 and a 12-month high of $156.98.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on BIDU. Barclays reduced their price target on shares of Baidu from $138.00 to $133.00 and set an “overweight” rating for the company in a research report on Thursday, February 29th. HSBC decreased their price target on Baidu from $157.00 to $145.00 and set a “buy” rating for the company in a research note on Wednesday, April 24th. Citigroup dropped their price objective on Baidu from $181.00 to $176.00 and set a “buy” rating on the stock in a research report on Tuesday, April 9th. Finally, StockNews.com lowered Baidu from a “buy” rating to a “hold” rating in a research report on Saturday, March 23rd. One research analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $171.64.

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.