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

Wealth Enhancement Advisory Services LLC lessened its stake in Baidu, Inc. (NASDAQ:BIDU) by 20.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. 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 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SRN Advisors LLC increased its stake in shares of Baidu by 111.5% in the first quarter. SRN Advisors LLC now owns 15,694 shares of the information services provider’s stock worth $1,652,000 after acquiring an additional 8,272 shares during the last quarter. Handelsbanken Fonder AB increased its position in Baidu by 8.9% in the 3rd quarter. Handelsbanken Fonder AB now owns 182,817 shares of the information services provider’s stock worth $19,249,000 after purchasing an additional 15,000 shares during the last quarter. Clear Harbor Asset Management LLC raised its stake in shares of Baidu by 126.5% during the 2nd quarter. Clear Harbor Asset Management LLC now owns 11,211 shares of the information services provider’s stock worth $970,000 after purchasing an additional 6,261 shares in the last quarter. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Baidu during the 2nd quarter valued at about $606,000. Finally, Swedbank AB bought a new stake in shares of Baidu in the 1st quarter valued at approximately $4,351,000.

Baidu Trading Down 4.9 %

Shares of Baidu stock opened at $88.96 on Friday. Baidu, Inc. has a 1 year low of $79.68 and a 1 year high of $126.23. The company’s fifty day simple moving average is $93.36 and its 200-day simple moving average is $94.08. The company has a market cap of $31.19 billion, a price-to-earnings ratio of 11.72 and a beta of 0.51. The company has a current ratio of 2.32, a quick ratio of 2.32 and a debt-to-equity ratio of 0.19.

Wall Street Analyst Weigh In

BIDU has been the topic of several recent research reports. HSBC lowered shares of Baidu from a “buy” rating to a “hold” rating and set a $100.00 price objective on the stock. in a research report on Tuesday, September 24th. Susquehanna reduced their price objective on shares of Baidu from $135.00 to $105.00 and set a “positive” rating for the company in a research note on Thursday, September 5th. Loop Capital lowered their target price on shares of Baidu from $120.00 to $115.00 and set a “buy” rating on the stock in a research report on Monday, August 26th. Sanford C. Bernstein cut Baidu from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $130.00 to $97.00 in a research report on Friday, August 23rd. Finally, Barclays lowered their price objective on Baidu from $125.00 to $115.00 and set an “overweight” rating on the stock in a report on Friday, August 23rd. Seven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target 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.