Janney Montgomery Scott LLC Takes $1.20 Million Position in Baidu, Inc. (NASDAQ:BIDU)

Janney Montgomery Scott LLC purchased a new stake in Baidu, Inc. (NASDAQ:BIDU) in the third quarter, Holdings Channel reports. The firm purchased 11,406 shares of the information services provider’s stock, valued at approximately $1,201,000.

A number of other institutional investors have also made changes to their positions in BIDU. Crewe Advisors LLC acquired a new position in Baidu during the 1st quarter valued at approximately $31,000. iA Global Asset Management Inc. acquired a new position in Baidu during the 2nd quarter valued at approximately $52,000. Denver PWM LLC acquired a new position in Baidu during the 2nd quarter valued at approximately $67,000. Allspring Global Investments Holdings LLC boosted its position in Baidu by 630.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 687 shares of the information services provider’s stock worth $72,000 after acquiring an additional 593 shares during the period. Finally, Grove Bank & Trust boosted its position in Baidu by 21.6% during the 3rd quarter. Grove Bank & Trust now owns 731 shares of the information services provider’s stock worth $77,000 after acquiring an additional 130 shares during the period.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Bank of America reduced their price target on Baidu from $128.00 to $117.00 and set a “buy” rating for the company in a research report on Friday, August 23rd. Hsbc Global Res lowered Baidu from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Benchmark reduced their price target on Baidu from $180.00 to $135.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Loop Capital reduced their price target on Baidu from $120.00 to $115.00 and set a “buy” rating for the company in a research report on Monday, August 26th. Finally, Barclays reduced their price target on Baidu from $125.00 to $115.00 and set an “overweight” rating for the company in a research report on Friday, August 23rd. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $127.29.

Baidu Stock Up 0.6 %

Shares of Baidu stock opened at $84.58 on Friday. The stock’s fifty day moving average is $93.53 and its 200-day moving average is $93.69. The firm has a market capitalization of $29.66 billion, a PE ratio of 11.10 and a beta of 0.51. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 0.19. Baidu, Inc. has a 12-month low of $79.68 and a 12-month high of $126.23.

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.