Arizona PSPRS Trust Invests $234,000 in Baidu, Inc. (NASDAQ:BIDU)

Arizona PSPRS Trust bought a new stake in Baidu, Inc. (NASDAQ:BIDU) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 2,224 shares of the information services provider’s stock, valued at approximately $234,000.

Several other hedge funds and other institutional investors have also made changes to their positions in BIDU. Swedbank AB acquired a new stake in shares of Baidu in the first quarter valued at about $4,351,000. Cetera Investment Advisers lifted its holdings in Baidu by 1,119.9% in the 1st quarter. Cetera Investment Advisers now owns 31,011 shares of the information services provider’s stock worth $3,265,000 after buying an additional 28,469 shares in the last quarter. Cetera Advisors LLC boosted its position in Baidu by 80.7% in the 1st quarter. Cetera Advisors LLC now owns 5,264 shares of the information services provider’s stock valued at $554,000 after buying an additional 2,351 shares during the last quarter. Park Avenue Securities LLC grew its stake in Baidu by 20.4% during the 2nd quarter. Park Avenue Securities LLC now owns 6,388 shares of the information services provider’s stock valued at $552,000 after purchasing an additional 1,082 shares in the last quarter. Finally, Simplicity Wealth LLC acquired a new stake in shares of Baidu during the second quarter worth approximately $231,000.

Baidu Price Performance

Shares of NASDAQ:BIDU opened at $85.05 on Monday. Baidu, Inc. has a 12 month low of $78.95 and a 12 month high of $120.25. The stock has a market cap of $29.82 billion, a price-to-earnings ratio of 10.41, a PEG ratio of 1.12 and a beta of 0.51. The stock’s 50 day moving average price is $93.57 and its 200 day moving average price is $91.50. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.19 and a quick ratio of 2.19.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Bank of America dropped their target price on shares of Baidu from $128.00 to $117.00 and set a “buy” rating for the company in a research report on Friday, August 23rd. Dbs Bank cut Baidu from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 3rd. Jefferies Financial Group lowered their price target on Baidu from $174.00 to $139.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. JPMorgan Chase & Co. cut Baidu from an “overweight” rating to a “neutral” rating in a research note on Wednesday, November 27th. Finally, Sanford C. Bernstein downgraded shares of Baidu from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $130.00 to $97.00 in a report on Friday, August 23rd. Ten investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $113.75.

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.