Louisiana State Employees Retirement System purchased a new position in shares of Baidu, Inc. (NASDAQ:BIDU – Get Rating) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 9,800 shares of the information services provider’s stock, valued at approximately $1,151,000.
A number of other institutional investors have also recently added to or reduced their stakes in BIDU. Retirement Group LLC boosted its position in Baidu by 92.0% during the 2nd quarter. Retirement Group LLC now owns 167 shares of the information services provider’s stock worth $25,000 after purchasing an additional 80 shares during the period. Allworth Financial LP boosted its position in Baidu by 123.7% during the 3rd quarter. Allworth Financial LP now owns 255 shares of the information services provider’s stock worth $30,000 after purchasing an additional 141 shares during the period. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in Baidu during the 2nd quarter worth $34,000. Sargent Bickham Lagudis LLC boosted its position in Baidu by 2,025.0% during the 2nd quarter. Sargent Bickham Lagudis LLC now owns 255 shares of the information services provider’s stock worth $38,000 after purchasing an additional 243 shares during the period. Finally, Heritage Wealth Management LLC purchased a new stake in Baidu during the 2nd quarter worth $39,000. 23.06% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on BIDU. Susquehanna decreased their price objective on shares of Baidu from $195.00 to $150.00 in a research report on Wednesday, December 14th. UBS Group decreased their price objective on shares of Baidu from $180.00 to $175.00 and set a “buy” rating for the company in a research report on Wednesday, November 23rd. The Goldman Sachs Group decreased their price objective on shares of Baidu from $184.00 to $176.00 and set a “buy” rating for the company in a research report on Wednesday, November 23rd. Loop Capital decreased their price objective on shares of Baidu from $185.00 to $167.00 in a research report on Tuesday, December 6th. Finally, Barclays decreased their price objective on shares of Baidu from $146.00 to $139.00 and set an “overweight” rating for the company in a research report on Friday, October 28th. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Baidu has a consensus rating of “Moderate Buy” and a consensus target price of $176.61.
Baidu Price Performance
About Baidu
Baidu, Inc offers internet search services in China. It operates through Baidu Core and iQIYI segments. 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; and Haokan, a short video app.
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