Massachusetts Financial Services Co. MA Has $20.89 Million Position in Baidu, Inc. (NASDAQ:BIDU)

Massachusetts Financial Services Co. MA increased its holdings in Baidu, Inc. (NASDAQ:BIDU) by 0.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 198,393 shares of the information services provider’s stock after purchasing an additional 906 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Baidu were worth $20,889,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BIDU. iA Global Asset Management Inc. acquired a new position in shares of Baidu in the 2nd quarter worth approximately $52,000. Allspring Global Investments Holdings LLC lifted its holdings 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 acquiring an additional 593 shares during the period. Grove Bank & Trust boosted its stake in shares of Baidu by 21.6% in the 3rd quarter. Grove Bank & Trust now owns 731 shares of the information services provider’s stock valued at $77,000 after purchasing an additional 130 shares in the last quarter. Denver PWM LLC bought a new stake in shares of Baidu in the 2nd quarter worth about $67,000. Finally, EverSource Wealth Advisors LLC increased its position in shares of Baidu by 102.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,098 shares of the information services provider’s stock worth $97,000 after purchasing an additional 555 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Hsbc Global Res lowered shares of Baidu from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Barclays lowered Baidu from an “overweight” rating to an “equal weight” rating in a research report on Friday. Susquehanna downgraded Baidu from a “positive” rating to a “neutral” rating and cut their price objective for the company from $105.00 to $85.00 in a research report on Monday. Jefferies Financial Group decreased their target price on Baidu from $174.00 to $139.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Finally, StockNews.com cut Baidu from a “buy” rating to a “hold” rating in a report on Friday, October 25th. Ten equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Baidu has a consensus rating of “Hold” and an average target price of $114.92.

Baidu Trading Up 2.9 %

BIDU opened at $82.67 on Tuesday. The firm has a 50 day simple moving average of $93.67 and a 200 day simple moving average of $92.22. Baidu, Inc. has a fifty-two week low of $78.95 and a fifty-two week high of $126.23. The company has a market cap of $28.99 billion, a price-to-earnings ratio of 10.12, a price-to-earnings-growth ratio of 1.03 and a beta of 0.51. 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 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.