JTC Employer Solutions Trustee Ltd Boosts Stock Position in Baidu, Inc. (NASDAQ:BIDU)

JTC Employer Solutions Trustee Ltd lifted its holdings in Baidu, Inc. (NASDAQ:BIDU) by 22.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,401 shares of the information services provider’s stock after purchasing an additional 990 shares during the quarter. JTC Employer Solutions Trustee Ltd’s holdings in Baidu were worth $569,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bleakley Financial Group LLC boosted its stake in Baidu by 51.3% during the third quarter. Bleakley Financial Group LLC now owns 4,038 shares of the information services provider’s stock worth $425,000 after buying an additional 1,369 shares during the period. Naviter Wealth LLC boosted its stake in Baidu by 17.0% during the third quarter. Naviter Wealth LLC now owns 8,660 shares of the information services provider’s stock worth $912,000 after buying an additional 1,260 shares during the period. Creative Planning boosted its stake in Baidu by 2.8% during the third quarter. Creative Planning now owns 49,440 shares of the information services provider’s stock worth $5,206,000 after buying an additional 1,362 shares during the period. Grove Bank & Trust boosted its stake 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 buying an additional 130 shares during the period. Finally, DLK Investment Management LLC purchased a new position in Baidu during the third quarter worth $243,000.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Jefferies Financial Group lowered their target price 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. Benchmark lowered their target price on shares of Baidu from $180.00 to $135.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. HSBC lowered shares of Baidu from a “buy” rating to a “hold” rating and set a $100.00 target price for the company. in a research note on Tuesday, September 24th. Hsbc Global Res lowered shares of Baidu from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Finally, Susquehanna lowered their target price on shares of Baidu from $135.00 to $105.00 and set a “positive” rating for the company in a research note on Thursday, September 5th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $132.13.

Baidu Stock Performance

Shares of Baidu stock opened at $94.39 on Friday. The company has a market capitalization of $33.10 billion, a PE ratio of 12.64 and a beta of 0.49. 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 50-day simple moving average of $91.83 and a two-hundred day simple moving average of $95.09. Baidu, Inc. has a one year low of $79.68 and a one year high of $126.23.

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.