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Private Advisor Group LLC Decreases Stake in Baidu, Inc. (NASDAQ:BIDU)

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Date: 2023-01-03 09:08:56

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Baidu logoPrivate Advisor Group LLC lowered its position in shares of Baidu, Inc. (NASDAQ:BIDUGet Rating) by 23.0% in the third quarter, Holdings Channel reports. The firm owned 4,879 shares of the information services provider’s stock after selling 1,461 shares during the period. Private Advisor Group LLC’s holdings in Baidu were worth $573,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of BIDU. Retirement Group LLC lifted 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 acquiring an additional 80 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new position in Baidu during the 2nd quarter worth approximately $34,000. Sargent Bickham Lagudis LLC lifted 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 acquiring an additional 243 shares in the last quarter. Heritage Wealth Management LLC acquired a new position in Baidu during the 2nd quarter worth approximately $39,000. Finally, UMB Bank n.a. lifted its position in Baidu by 27.0% during the 3rd quarter. UMB Bank n.a. now owns 508 shares of the information services provider’s stock worth $60,000 after acquiring an additional 108 shares in the last quarter. Hedge funds and other institutional investors own 23.06% of the company’s stock.

Baidu Stock Performance

Shares of BIDU opened at $114.38 on Tuesday. The business’s fifty day moving average price is $100.84 and its 200 day moving average price is $121.53. Baidu, Inc. has a 12-month low of $73.58 and a 12-month high of $171.87. The stock has a market capitalization of $39.52 billion, a PE ratio of 70.17, a price-to-earnings-growth ratio of 0.88 and a beta of 0.63. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.46 and a quick ratio of 2.46.

Wall Street Analyst Weigh In

BIDU has been the topic of several recent research reports. The Goldman Sachs Group reduced their price target on Baidu from $184.00 to $176.00 and set a “buy” rating on the stock in a research report on Wednesday, November 23rd. Bank of America reiterated a “buy” rating and set a $224.00 target price on shares of Baidu in a research note on Monday, November 28th. Sanford C. Bernstein increased their target price on Baidu from $92.00 to $109.00 in a research note on Wednesday, November 23rd. Morgan Stanley reduced their target price on Baidu from $140.00 to $120.00 in a research note on Wednesday, November 23rd. Finally, Susquehanna Bancshares reduced their target price on Baidu from $195.00 to $150.00 in a research note on Wednesday, December 14th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $176.61.

Baidu Company Profile

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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.

Featured Stories

Want to see what other hedge funds are holding BIDU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Baidu, Inc. (NASDAQ:BIDUGet Rating).

Institutional Ownership by Quarter for Baidu (NASDAQ:BIDU)

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Original Source: https://www.etfdailynews.com/2023/01/03/private-advisor-group-llc-decreases-stake-in-baidu-inc-nasdaqbidu/