Sanders Capital LLC Acquires 18,334 Shares of Baidu, Inc. (NASDAQ:BIDU)

Sanders Capital LLC lifted its stake in shares of Baidu, Inc. (NASDAQ:BIDU) by 0.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,605,728 shares of the information services provider’s stock after acquiring an additional 18,334 shares during the period. Sanders Capital LLC owned 0.74% of Baidu worth $274,357,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. iA Global Asset Management Inc. acquired a new stake in Baidu in the second quarter valued at approximately $52,000. Allspring Global Investments Holdings LLC lifted its position in shares of Baidu by 630.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 687 shares of the information services provider’s stock valued at $72,000 after purchasing an additional 593 shares in the last quarter. Grove Bank & Trust boosted its holdings in Baidu by 21.6% during the third quarter. Grove Bank & Trust now owns 731 shares of the information services provider’s stock worth $77,000 after purchasing an additional 130 shares during the last quarter. Denver PWM LLC bought a new stake in Baidu in the 2nd quarter worth about $67,000. Finally, EverSource Wealth Advisors LLC increased its stake in Baidu by 102.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,098 shares of the information services provider’s stock valued at $97,000 after buying an additional 555 shares during the last quarter.

Baidu Stock Up 1.1 %

Shares of BIDU opened at $83.62 on Tuesday. The firm has a market cap of $29.32 billion, a P/E ratio of 10.12, a P/E/G ratio of 1.03 and a beta of 0.51. The stock has a 50 day simple moving average of $93.67 and a two-hundred day simple moving average of $92.22. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.19 and a quick ratio of 2.19. Baidu, Inc. has a 1 year low of $78.95 and a 1 year high of $126.23.

Analyst Upgrades and Downgrades

BIDU has been the subject of a number of research analyst reports. Barclays downgraded Baidu from an “overweight” rating to an “equal weight” rating in a research report on Friday. Sanford C. Bernstein cut shares of Baidu from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $130.00 to $97.00 in a research note on Friday, August 23rd. Jefferies Financial Group decreased their price target on shares of Baidu from $174.00 to $139.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Dbs Bank downgraded Baidu from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 3rd. Finally, HSBC lowered Baidu from a “buy” rating to a “hold” rating and set a $100.00 target price on the stock. in a research note on Tuesday, September 24th. Ten analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $114.92.

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.