Baidu, Inc. (NASDAQ:BIDU) Stock Position Boosted by WCM Investment Management LLC

WCM Investment Management LLC raised its stake in shares of Baidu, Inc. (NASDAQ:BIDU) by 81.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,666 shares of the information services provider’s stock after buying an additional 6,132 shares during the period. WCM Investment Management LLC’s holdings in Baidu were worth $1,149,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC increased its stake in shares of Baidu by 630.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 687 shares of the information services provider’s stock valued at $72,000 after acquiring an additional 593 shares during the period. Grove Bank & Trust increased its position 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 valued at $77,000 after purchasing an additional 130 shares during the period. Transamerica Financial Advisors Inc. bought a new stake in shares of Baidu in the 3rd quarter worth $82,000. Denver PWM LLC lifted its holdings in shares of Baidu by 28.5% in the third quarter. Denver PWM LLC now owns 991 shares of the information services provider’s stock valued at $104,000 after buying an additional 220 shares during the period. Finally, Banco Santander S.A. bought a new position in Baidu during the third quarter valued at about $201,000.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on BIDU shares. Benchmark reissued a “buy” rating and issued a $130.00 price target on shares of Baidu in a report on Friday, January 24th. JPMorgan Chase & Co. cut shares of Baidu from an “overweight” rating to a “neutral” rating in a report on Wednesday, November 27th. Citigroup dropped their price target on Baidu from $142.00 to $141.00 and set a “buy” rating on the stock in a report on Friday, November 29th. Susquehanna lowered Baidu from a “positive” rating to a “neutral” rating and reduced their price objective for the stock from $105.00 to $85.00 in a research note on Monday, November 25th. Finally, Mizuho decreased their target price on Baidu from $130.00 to $115.00 and set an “outperform” rating on the stock in a report on Tuesday, November 12th. Ten equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $113.75.

Baidu Stock Performance

BIDU stock opened at $93.85 on Tuesday. The firm has a 50 day simple moving average of $86.18 and a 200 day simple moving average of $88.53. Baidu, Inc. has a 52 week low of $77.19 and a 52 week high of $116.25. The stock has a market cap of $32.91 billion, a P/E ratio of 11.49, a P/E/G ratio of 2.03 and a beta of 0.46. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.19 and a current ratio of 2.19.

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.