Advisory Services Network LLC Reduces Position in Baidu Inc (BIDU)

Advisory Services Network LLC lowered its stake in Baidu Inc (NASDAQ:BIDU) by 42.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,356 shares of the information services provider’s stock after selling 989 shares during the quarter. Advisory Services Network LLC’s holdings in Baidu were worth $310,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Bartlett & Co. LLC boosted its stake in shares of Baidu by 71.0% during the 2nd quarter. Bartlett & Co. LLC now owns 530 shares of the information services provider’s stock worth $129,000 after acquiring an additional 220 shares during the last quarter. BB&T Securities LLC boosted its stake in shares of Baidu by 0.6% during the 2nd quarter. BB&T Securities LLC now owns 40,891 shares of the information services provider’s stock worth $9,936,000 after acquiring an additional 239 shares during the last quarter. Atria Investments LLC boosted its stake in shares of Baidu by 4.5% during the 3rd quarter. Atria Investments LLC now owns 6,211 shares of the information services provider’s stock worth $1,420,000 after acquiring an additional 267 shares during the last quarter. IFP Advisors Inc boosted its stake in shares of Baidu by 13.3% during the 3rd quarter. IFP Advisors Inc now owns 2,421 shares of the information services provider’s stock worth $554,000 after acquiring an additional 285 shares during the last quarter. Finally, Deltec Asset Management LLC boosted its stake in shares of Baidu by 19.4% during the 2nd quarter. Deltec Asset Management LLC now owns 2,150 shares of the information services provider’s stock worth $522,000 after acquiring an additional 350 shares during the last quarter. Institutional investors own 60.90% of the company’s stock.

BIDU opened at $183.75 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.19 and a current ratio of 2.66. Baidu Inc has a fifty-two week low of $177.80 and a fifty-two week high of $284.22. The firm has a market cap of $67.76 billion, a P/E ratio of 22.80, a PEG ratio of 1.00 and a beta of 1.61.

Several brokerages have recently weighed in on BIDU. Barclays set a $250.00 price target on shares of Baidu and gave the stock a “hold” rating in a research note on Thursday, October 18th. ValuEngine cut shares of Baidu from a “hold” rating to a “sell” rating in a research note on Tuesday, October 2nd. Zacks Investment Research upgraded shares of Baidu from a “sell” rating to a “hold” rating in a research note on Monday, July 23rd. BidaskClub upgraded shares of Baidu from a “strong sell” rating to a “sell” rating in a research note on Friday, September 14th. Finally, Susquehanna Bancshares began coverage on shares of Baidu in a research note on Friday, September 7th. They set a “positive” rating and a $325.00 price target on the stock. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the company’s stock. Baidu has an average rating of “Buy” and an average target price of $278.86.

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Baidu Company Profile

Baidu, Inc provides Internet search services in China and internationally. It operates through two segments, Baidu Core and iQIYI. The Baidu Core segment offers products for uses, including Baidu App to access search, feed, and other services using mobile devices; Baidu Search to access its search and other services through mobile browsers; Baidu Feed that provides users with personalized timeline to meet their personal interests reflected in their past online behaviors, such as search and browsing, and their demographics; and Bear Paw Account that enables verified brands and businesses to aggregate their content from Websites, wapsites, and open-platform apps.

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Institutional Ownership by Quarter for Baidu (NASDAQ:BIDU)

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