Joule Financial LLC Acquires New Holdings in Baidu, Inc. $BIDU

Joule Financial LLC acquired a new position in shares of Baidu, Inc. (NASDAQ:BIDU) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 7,610 shares of the information services provider’s stock, valued at approximately $653,000.

Other large investors have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. lifted its holdings in 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 raised its stake in Baidu by 0.9% during 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 buying an additional 11,658 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings 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 buying an additional 25,834 shares during the period. Kingstone Capital Partners Texas LLC bought a new stake in Baidu during the second quarter valued at $80,618,000. Finally, Massachusetts Financial Services Co. MA grew its holdings in Baidu by 319.9% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 807,322 shares of the information services provider’s stock worth $74,298,000 after acquiring an additional 615,061 shares during the period.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Barclays dropped their price objective on Baidu from $84.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Friday, July 18th. Jefferies Financial Group raised their price objective on shares of Baidu from $108.00 to $157.00 and gave the stock a “buy” rating in a research report on Wednesday, September 17th. Citigroup boosted their target price on shares of Baidu from $138.00 to $140.00 and gave the company a “buy” rating in a research report on Thursday, July 17th. Susquehanna increased their target price on shares of Baidu from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 2nd. Finally, Benchmark decreased their price target on shares of Baidu from $120.00 to $115.00 and set a “buy” rating for the company in a research note on Thursday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Baidu has a consensus rating of “Hold” and a consensus target price of $122.42.

Baidu Stock Performance

Shares of Baidu stock opened at $142.00 on Monday. The business’s fifty day simple moving average is $105.07 and its 200 day simple moving average is $93.46. 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, Inc. has a 12 month low of $74.71 and a 12 month high of $145.20. The firm has a market capitalization of $49.05 billion, a P/E ratio of 13.09 and a beta of 0.42.

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.