Wellington Management Group LLP Invests $2.51 Million in Baidu, Inc. (NASDAQ:BIDU)

Wellington Management Group LLP bought a new stake in Baidu, Inc. (NASDAQ:BIDU) in the 3rd quarter, Holdings Channel reports. The firm bought 23,845 shares of the information services provider’s stock, valued at approximately $2,511,000.

Other institutional investors have also added to or reduced their stakes in the company. iA Global Asset Management Inc. bought a new stake in shares of Baidu in the 2nd quarter valued at about $52,000. Denver PWM LLC bought a new stake in Baidu in the second quarter valued at approximately $67,000. Allspring Global Investments Holdings LLC raised its stake in Baidu by 630.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 687 shares of the information services provider’s stock valued at $72,000 after buying an additional 593 shares during the period. Grove Bank & Trust boosted its stake in shares of Baidu by 21.6% during the 3rd quarter. Grove Bank & Trust now owns 731 shares of the information services provider’s stock worth $77,000 after acquiring an additional 130 shares during the period. Finally, Transamerica Financial Advisors Inc. acquired a new position in shares of Baidu during the 3rd quarter worth approximately $82,000.

Baidu Stock Up 2.1 %

NASDAQ BIDU opened at $90.18 on Wednesday. Baidu, Inc. has a fifty-two week low of $78.95 and a fifty-two week high of $120.25. The business has a fifty day moving average price of $89.67 and a two-hundred day moving average price of $90.26. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.19 and a quick ratio of 2.19. The stock has a market capitalization of $31.62 billion, a PE ratio of 11.04, a PEG ratio of 1.19 and a beta of 0.46.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on BIDU shares. Benchmark dropped their price objective on shares of Baidu from $135.00 to $130.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. HSBC cut shares of 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. Mizuho reduced their price objective on Baidu from $130.00 to $115.00 and set an “outperform” rating for the company in a report on Tuesday, November 12th. China Renaissance lowered Baidu from a “buy” rating to a “hold” rating and set a $86.00 target price on the stock. in a research note on Monday, November 25th. Finally, Bank of America reduced their price target on Baidu from $128.00 to $117.00 and set a “buy” rating for the company in a research note on Friday, August 23rd. Eleven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Baidu presently has an average rating of “Hold” and a consensus target price of $113.75.

About Baidu

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.