IHT Wealth Management LLC decreased its holdings in Baidu Inc (NASDAQ:BIDU) by 29.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,395 shares of the information services provider’s stock after selling 983 shares during the period. IHT Wealth Management LLC’s holdings in Baidu were worth $246,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Point72 Asset Management L.P. purchased a new position in Baidu in the 3rd quarter valued at approximately $4,051,000. Sunbelt Securities Inc. boosted its stake in Baidu by 185.2% in the 3rd quarter. Sunbelt Securities Inc. now owns 5,932 shares of the information services provider’s stock worth $610,000 after purchasing an additional 3,852 shares during the period. Parametric Portfolio Associates LLC boosted its stake in Baidu by 31.9% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 345,276 shares of the information services provider’s stock worth $35,481,000 after purchasing an additional 83,548 shares during the period. Kranot Hishtalmut Le Morim Ve Gananot Havera Menahelet LTD bought a new position in Baidu in the 3rd quarter worth about $30,409,000. Finally, Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD purchased a new position in Baidu during the 3rd quarter valued at about $10,918,000. 52.16% of the stock is currently owned by institutional investors.
Several equities research analysts have recently weighed in on the company. Morgan Stanley upgraded Baidu from an “equal weight” rating to an “overweight” rating in a research report on Thursday, November 7th. Benchmark cut their price objective on shares of Baidu to $165.00 and set a “buy” rating for the company in a research report on Tuesday, August 20th. Mizuho boosted their price objective on shares of Baidu from $165.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. KeyCorp decreased their target price on shares of Baidu from $152.00 to $149.00 and set an “overweight” rating on the stock in a report on Monday, October 21st. Finally, Nomura decreased their target price on shares of Baidu from $134.00 to $118.00 and set a “neutral” rating on the stock in a report on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. Baidu has a consensus rating of “Buy” and an average price target of $146.00.
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.
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