Highland Capital Management LLC Has $459,000 Stock Holdings in Baidu, Inc. $BIDU

Highland Capital Management LLC lowered its holdings in shares of Baidu, Inc. (NASDAQ:BIDU) by 2.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,350 shares of the information services provider’s stock after selling 125 shares during the period. Highland Capital Management LLC’s holdings in Baidu were worth $459,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in BIDU. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Baidu by 1,377.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,324,728 shares of the information services provider’s stock worth $490,035,000 after buying an additional 4,964,350 shares during the period. Dimensional Fund Advisors LP grew its holdings in Baidu by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 1,361,973 shares of the information services provider’s stock worth $125,338,000 after purchasing an additional 11,658 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Baidu by 2.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,037,626 shares of the information services provider’s stock valued at $95,494,000 after purchasing an additional 25,834 shares in the last quarter. Kingstone Capital Partners Texas LLC acquired a new position in shares of Baidu during the second quarter valued at about $80,618,000. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of Baidu by 319.9% during the first quarter. Massachusetts Financial Services Co. MA now owns 807,322 shares of the information services provider’s stock valued at $74,298,000 after purchasing an additional 615,061 shares during the period.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on BIDU. Dbs Bank raised Baidu from a “hold” rating to a “buy” rating and boosted their target price for the company from $85.00 to $177.00 in a research report on Thursday, September 25th. Benchmark lowered their target price on Baidu from $120.00 to $115.00 and set a “buy” rating on the stock in a research report on Thursday, August 21st. Arete Research upgraded Baidu from a “sell” rating to a “buy” rating and set a $143.00 target price on the stock in a report on Tuesday, September 16th. Wall Street Zen lowered shares of Baidu from a “hold” rating to a “sell” rating in a research note on Friday, August 22nd. Finally, CLSA upgraded shares of Baidu to a “strong-buy” rating in a report on Monday, September 22nd. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $122.42.

Baidu Price Performance

Baidu stock opened at $142.00 on Monday. The business’s 50 day simple moving average is $105.07 and its 200 day simple moving average is $93.46. Baidu, Inc. has a 12 month low of $74.71 and a 12 month high of $145.20. The company has a market cap of $49.05 billion, a price-to-earnings ratio of 13.09 and a beta of 0.42. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.19.

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.