Wealth Enhancement Advisory Services LLC Has $456,000 Stock Position in Baidu, Inc. (NASDAQ:BIDU)

Wealth Enhancement Advisory Services LLC lessened its position in shares of Baidu, Inc. (NASDAQ:BIDU) by 20.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 4,328 shares of the information services provider’s stock after selling 1,080 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Baidu were worth $456,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. International Assets Investment Management LLC boosted its stake in Baidu by 12,065.6% during the third quarter. International Assets Investment Management LLC now owns 1,070,694 shares of the information services provider’s stock worth $1,127,330,000 after buying an additional 1,061,893 shares in the last quarter. Commerzbank Aktiengesellschaft FI acquired a new stake in shares of Baidu during the 3rd quarter valued at about $218,000. Private Advisor Group LLC increased its stake in Baidu by 24.4% in the third quarter. Private Advisor Group LLC now owns 5,526 shares of the information services provider’s stock valued at $582,000 after acquiring an additional 1,083 shares during the period. Sterling Investment Management LLC acquired a new position in Baidu in the third quarter worth about $973,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in Baidu by 630.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 687 shares of the information services provider’s stock worth $72,000 after purchasing an additional 593 shares during the period.

Baidu Stock Performance

BIDU stock opened at $88.96 on Friday. The company has a 50 day moving average price of $93.36 and a 200 day moving average price of $94.08. Baidu, Inc. has a fifty-two week low of $79.68 and a fifty-two week high of $126.23. 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 market capitalization of $31.19 billion, a PE ratio of 11.72 and a beta of 0.51.

Analyst Ratings Changes

Several research firms have recently weighed in on BIDU. Jefferies Financial Group lowered their price objective on Baidu from $174.00 to $139.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Susquehanna dropped their price objective on Baidu from $135.00 to $105.00 and set a “positive” rating for the company in a research note on Thursday, September 5th. Benchmark reduced their target price on shares of Baidu from $180.00 to $135.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Citigroup dropped their target price on shares of Baidu from $170.00 to $155.00 and set a “buy” rating for the company in a research report on Monday, July 15th. Finally, Dbs Bank lowered shares of Baidu from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 3rd. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Baidu currently has a consensus rating of “Moderate Buy” and an average price target of $128.36.

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.