Hanson & Doremus Investment Management Boosts Stock Holdings in Baidu Inc (NASDAQ:BIDU)

Hanson & Doremus Investment Management increased its position in shares of Baidu Inc (NASDAQ:BIDU) by 13.5% in the 3rd quarter, HoldingsChannel reports. The firm owned 5,090 shares of the information services provider’s stock after purchasing an additional 605 shares during the period. Hanson & Doremus Investment Management’s holdings in Baidu were worth $523,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Marshall Wace North America L.P. acquired a new stake in shares of Baidu during the 1st quarter valued at about $1,005,000. FMR LLC grew its position in shares of Baidu by 149.7% during the 1st quarter. FMR LLC now owns 82,956 shares of the information services provider’s stock valued at $13,674,000 after acquiring an additional 49,735 shares during the period. Crossmark Global Holdings Inc. grew its position in shares of Baidu by 1.9% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 10,881 shares of the information services provider’s stock valued at $1,277,000 after acquiring an additional 200 shares during the period. DAVENPORT & Co LLC grew its position in shares of Baidu by 83.7% during the 2nd quarter. DAVENPORT & Co LLC now owns 3,543 shares of the information services provider’s stock valued at $416,000 after acquiring an additional 1,614 shares during the period. Finally, Hexavest Inc. grew its position in shares of Baidu by 9.7% during the 2nd quarter. Hexavest Inc. now owns 31,931 shares of the information services provider’s stock valued at $3,747,000 after acquiring an additional 2,827 shares during the period. 56.75% of the stock is owned by hedge funds and other institutional investors.

BIDU stock opened at $103.74 on Friday. The company has a current ratio of 2.61, a quick ratio of 2.61 and a debt-to-equity ratio of 0.32. Baidu Inc has a 12-month low of $93.39 and a 12-month high of $206.25. The stock has a market cap of $37.61 billion, a price-to-earnings ratio of 13.30, a PEG ratio of 14.11 and a beta of 1.74. The business’s 50-day moving average is $104.77 and its 200 day moving average is $122.70.

A number of equities research analysts have recently commented on BIDU shares. Morgan Stanley set a $125.00 target price on Baidu and gave the company a “hold” rating in a research report on Tuesday, August 20th. HSBC raised their target price on Baidu from $137.00 to $141.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Zacks Investment Research cut Baidu from a “buy” rating to a “hold” rating in a research report on Friday. BidaskClub cut Baidu from a “hold” rating to a “sell” rating in a research report on Friday, September 20th. Finally, UBS Group reiterated a “hold” rating and issued a $145.00 price objective on shares of Baidu in a report on Friday, July 5th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $149.63.

Baidu 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 its other properties and Union partners; Baidu Feed that provides users with personalized timeline based on their demographics and interests; Haokan, a short video app; and Quanmin, a flash video app for users to create and share short videos.

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Institutional Ownership by Quarter for Baidu (NASDAQ:BIDU)

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