Denver PWM LLC Raises Stock Position in Baidu, Inc. (NASDAQ:BIDU)

Denver PWM LLC lifted its position in shares of Baidu, Inc. (NASDAQ:BIDU) by 28.5% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 991 shares of the information services provider’s stock after acquiring an additional 220 shares during the period. Denver PWM LLC’s holdings in Baidu were worth $104,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Primecap Management Co. CA lifted its position in shares of Baidu by 17.2% in the second quarter. Primecap Management Co. CA now owns 11,947,706 shares of the information services provider’s stock valued at $1,033,238,000 after acquiring an additional 1,753,577 shares in the last quarter. International Assets Investment Management LLC boosted its position in Baidu by 12,065.6% during the third quarter. International Assets Investment Management LLC now owns 1,070,694 shares of the information services provider’s stock worth $1,127,330,000 after acquiring an additional 1,061,893 shares during the last quarter. Maple Rock Capital Partners Inc. acquired a new stake in Baidu during the third quarter worth approximately $42,748,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Baidu in the 3rd quarter valued at about $36,272,000. Finally, Hhlr Advisors LTD. acquired a new stake in shares of Baidu in the third quarter worth approximately $31,587,000.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on BIDU shares. Mizuho decreased their price target on shares of Baidu from $130.00 to $115.00 and set an “outperform” rating on the stock in a report on Tuesday, November 12th. StockNews.com lowered shares of Baidu from a “buy” rating to a “hold” rating in a report on Thursday. Bank of America lowered their price target on Baidu from $128.00 to $117.00 and set a “buy” rating for the company in a report on Friday, August 23rd. Jefferies Financial Group reduced their price target on Baidu from $174.00 to $139.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. Finally, Benchmark cut their price objective on shares of Baidu from $135.00 to $130.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. Eleven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Baidu has an average rating of “Hold” and a consensus target price of $113.75.

Baidu Price Performance

Shares of NASDAQ BIDU opened at $90.32 on Friday. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $31.67 billion, a price-to-earnings ratio of 11.06, a price-to-earnings-growth ratio of 1.19 and a beta of 0.46. Baidu, Inc. has a twelve month low of $78.95 and a twelve month high of $120.25. The business has a 50 day simple moving average of $90.90 and a 200-day simple moving average of $90.57.

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.