Foresight Wealth Management LLC acquired a new position in shares of Baidu Inc (NASDAQ:BIDU) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 1,586 shares of the information services provider’s stock, valued at approximately $261,000.

A number of other institutional investors also recently made changes to their positions in BIDU. Norges Bank purchased a new position in Baidu during the fourth quarter worth approximately $526,416,000. Harris Associates L P lifted its position in Baidu by 49.6% during the fourth quarter. Harris Associates L P now owns 3,155,245 shares of the information services provider’s stock worth $500,422,000 after buying an additional 1,046,123 shares in the last quarter. Bank of Montreal Can lifted its position in Baidu by 219.8% during the first quarter. Bank of Montreal Can now owns 792,685 shares of the information services provider’s stock worth $130,674,000 after buying an additional 544,799 shares in the last quarter. Investec Asset Management LTD lifted its position in Baidu by 23.4% during the fourth quarter. Investec Asset Management LTD now owns 2,551,426 shares of the information services provider’s stock worth $404,656,000 after buying an additional 484,147 shares in the last quarter. Finally, DNB Asset Management AS lifted its position in Baidu by 126.6% during the fourth quarter. DNB Asset Management AS now owns 803,345 shares of the information services provider’s stock worth $127,411,000 after buying an additional 448,857 shares in the last quarter. Hedge funds and other institutional investors own 60.69% of the company’s stock.

NASDAQ:BIDU traded down $0.08 on Wednesday, reaching $152.31. The company’s stock had a trading volume of 38,361 shares, compared to its average volume of 2,851,011. Baidu Inc has a 12-month low of $150.02 and a 12-month high of $284.22. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $52.94 billion, a P/E ratio of 19.59, a P/E/G ratio of 4.58 and a beta of 1.44.

A number of brokerages recently commented on BIDU. BidaskClub downgraded Baidu from a “sell” rating to a “strong sell” rating in a research report on Friday, May 10th. Mizuho reduced their price objective on Baidu from $215.00 to $205.00 and set a “buy” rating on the stock in a research report on Tuesday, May 7th. Zacks Investment Research downgraded Baidu from a “hold” rating to a “strong sell” rating in a research report on Wednesday, April 24th. KeyCorp set a $220.00 price objective on Baidu and gave the stock an “overweight” rating in a research report on Tuesday, April 23rd. They noted that the move was a valuation call. Finally, China Renaissance Securities reiterated a “hold” rating on shares of Baidu in a research report on Monday, April 15th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $230.64.

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Baidu Company 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.

See Also: Retained Earnings

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Institutional Ownership by Quarter for Baidu (NASDAQ:BIDU)

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