Creative Planning Has $5.21 Million Position in Baidu, Inc. (NASDAQ:BIDU)

Creative Planning increased its position in Baidu, Inc. (NASDAQ:BIDU) by 2.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 49,440 shares of the information services provider’s stock after buying an additional 1,362 shares during the period. Creative Planning’s holdings in Baidu were worth $5,206,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Crewe Advisors LLC acquired a new position in Baidu in the first quarter worth approximately $31,000. iA Global Asset Management Inc. acquired a new position in Baidu during the second quarter valued at approximately $52,000. Grove Bank & Trust grew its holdings in Baidu by 21.6% during the third 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 during the last quarter. Denver PWM LLC acquired a new position in Baidu during the second quarter valued at approximately $67,000. Finally, EverSource Wealth Advisors LLC grew its holdings in Baidu by 102.2% during the second quarter. EverSource Wealth Advisors LLC now owns 1,098 shares of the information services provider’s stock valued at $97,000 after purchasing an additional 555 shares during the last quarter.

Baidu Stock Performance

Baidu stock opened at $89.48 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.32 and a quick ratio of 2.32. The stock has a fifty day moving average price of $92.19 and a two-hundred day moving average price of $94.65. Baidu, Inc. has a 52-week low of $79.68 and a 52-week high of $126.23. The firm has a market capitalization of $31.38 billion, a P/E ratio of 11.98 and a beta of 0.49.

Wall Street Analyst Weigh In

Several brokerages have commented on BIDU. StockNews.com downgraded Baidu from a “buy” rating to a “hold” rating in a report on Friday. Barclays lowered their price target on Baidu from $125.00 to $115.00 and set an “overweight” rating on the stock in a report on Friday, August 23rd. HSBC downgraded Baidu from a “buy” rating to a “hold” rating and set a $100.00 price target on the stock. in a report on Tuesday, September 24th. Benchmark reduced their price objective on Baidu from $180.00 to $135.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Finally, Hsbc Global Res cut Baidu from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $128.36.

Baidu 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.