Formidable Asset Management LLC Raises Holdings in Baidu, Inc. (NASDAQ:BIDU)

Formidable Asset Management LLC increased its position in Baidu, Inc. (NASDAQ:BIDU) by 20.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,791 shares of the information services provider’s stock after buying an additional 301 shares during the period. Formidable Asset Management LLC’s holdings in Baidu were worth $275,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Allworth Financial LP purchased a new position in Baidu during the 3rd quarter valued at approximately $36,000. Lumature Wealth Partners LLC bought a new position in shares of Baidu during the 3rd quarter valued at approximately $38,000. Liberty Wealth Management LLC grew its holdings in shares of Baidu by 58,518.8% in the second quarter. Liberty Wealth Management LLC now owns 9,379 shares of the information services provider’s stock valued at $46,000 after purchasing an additional 9,363 shares in the last quarter. Systematic Alpha Investments LLC bought a new stake in Baidu in the second quarter worth $50,000. Finally, CENTRAL TRUST Co raised its stake in Baidu by 82.7% during the third quarter. CENTRAL TRUST Co now owns 358 shares of the information services provider’s stock valued at $55,000 after purchasing an additional 162 shares in the last quarter. 42.43% of the stock is owned by institutional investors.

BIDU has been the topic of a number of research reports. Zacks Investment Research downgraded shares of Baidu from a “hold” rating to a “strong sell” rating in a report on Tuesday. Citigroup upped their price objective on Baidu from $254.00 to $258.00 and gave the company a “buy” rating in a research report on Thursday, November 18th. TheStreet cut Baidu from a “b-” rating to a “c” rating in a report on Monday, November 22nd. UBS Group increased their price target on Baidu from $220.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Benchmark dropped their price objective on shares of Baidu from $357.00 to $330.00 and set a “buy” rating for the company in a research note on Thursday, November 18th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, Baidu has a consensus rating of “Buy” and a consensus target price of $285.44.

Shares of NASDAQ:BIDU opened at $154.53 on Friday. Baidu, Inc. has a 52-week low of $132.14 and a 52-week high of $354.82. The stock has a market cap of $53.79 billion, a P/E ratio of 26.51, a price-to-earnings-growth ratio of 10.74 and a beta of 1.02. The business’s 50 day moving average is $150.58 and its 200 day moving average is $160.35. The company has a quick ratio of 2.91, a current ratio of 2.91 and a debt-to-equity ratio of 0.34.

About Baidu

Baidu, Inc engages in the provision of internet search and online marketing solutions. The firm’s products and services include Baidu App, Baidu Search, Baidu Feed, Haokan, Quanmin, Baidu Post Bar, Baidu Knows, Baidu Encyclopedia, Baidu Input Method Editor or Baidu IME and Overseas Products. It operates through the following segments: Baidu Core and iQIYI.

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Institutional Ownership by Quarter for Baidu (NASDAQ:BIDU)

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