AlphaStar Capital Management LLC Takes $771,000 Position in Baidu, Inc. (NASDAQ:BIDU)

AlphaStar Capital Management LLC acquired a new stake in Baidu, Inc. (NASDAQ:BIDU) in the 2nd quarter, Holdings Channel reports. The fund acquired 8,920 shares of the information services provider’s stock, valued at approximately $771,000.

Other institutional investors also recently bought and sold shares of the company. National Bank of Canada FI lifted its position in Baidu by 90,390.0% during the 4th quarter. National Bank of Canada FI now owns 901,280 shares of the information services provider’s stock worth $103,953,000 after acquiring an additional 900,284 shares during the period. Canada Pension Plan Investment Board boosted its position in Baidu by 49.7% in the first quarter. Canada Pension Plan Investment Board now owns 1,018,685 shares of the information services provider’s stock valued at $107,247,000 after buying an additional 338,110 shares during the last quarter. Hsbc Holdings PLC increased its holdings in Baidu by 139.3% in the 4th quarter. Hsbc Holdings PLC now owns 536,748 shares of the information services provider’s stock worth $63,907,000 after buying an additional 312,467 shares during the period. SG Americas Securities LLC raised its position in Baidu by 337.5% during the 1st quarter. SG Americas Securities LLC now owns 250,418 shares of the information services provider’s stock worth $26,364,000 after buying an additional 193,180 shares during the last quarter. Finally, M&G Plc acquired a new stake in Baidu during the 1st quarter valued at approximately $18,152,000.

Analyst Upgrades and Downgrades

BIDU has been the topic of a number of research reports. Mizuho cut their price objective on shares of Baidu from $140.00 to $130.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. Sanford C. Bernstein lowered Baidu from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $130.00 to $97.00 in a research note on Friday. StockNews.com downgraded Baidu from a “buy” rating to a “hold” rating in a research note on Tuesday, July 16th. Macquarie cut Baidu from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 17th. Finally, Susquehanna decreased their price target on Baidu from $150.00 to $135.00 and set a “positive” rating for the company in a report on Friday, May 24th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $137.13.

Baidu Price Performance

Baidu stock traded down $0.40 during trading on Tuesday, reaching $85.82. The company had a trading volume of 678,683 shares, compared to its average volume of 3,465,715. The firm has a market capitalization of $30.09 billion, a PE ratio of 11.54 and a beta of 0.49. The firm’s 50-day simple moving average is $88.85 and its 200 day simple moving average is $98.14. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.79 and a current ratio of 2.79. Baidu, Inc. has a 1-year low of $79.68 and a 1-year high of $151.00.

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.