Banco Santander S.A. Buys Shares of 1,912 Baidu, Inc. (NASDAQ:BIDU)

Banco Santander S.A. purchased a new position in Baidu, Inc. (NASDAQ:BIDU) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,912 shares of the information services provider’s stock, valued at approximately $201,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. iA Global Asset Management Inc. purchased a new position in shares of Baidu during the 2nd quarter valued at $52,000. Denver PWM LLC acquired a new position in Baidu in the 2nd quarter worth about $67,000. Allspring Global Investments Holdings LLC raised its stake in shares of Baidu by 630.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 687 shares of the information services provider’s stock worth $72,000 after purchasing an additional 593 shares in the last quarter. Grove Bank & Trust grew its stake in shares of Baidu by 21.6% in the 3rd quarter. Grove Bank & Trust now owns 731 shares of the information services provider’s stock valued at $77,000 after buying an additional 130 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in Baidu by 102.2% in the second quarter. EverSource Wealth Advisors LLC now owns 1,098 shares of the information services provider’s stock worth $97,000 after buying an additional 555 shares during the last quarter.

Baidu Trading Down 1.6 %

Shares of BIDU opened at $80.33 on Friday. The stock’s 50-day moving average price is $93.70 and its 200 day moving average price is $92.54. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $28.17 billion, a price-to-earnings ratio of 9.83 and a beta of 0.51. Baidu, Inc. has a 12-month low of $78.95 and a 12-month high of $126.23.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Barclays cut shares of Baidu from an “overweight” rating to an “equal weight” rating in a research note on Friday. Sanford C. Bernstein cut 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. Benchmark cut their target price on Baidu from $135.00 to $130.00 and set a “buy” rating on the stock in a report on Friday. Mizuho decreased their price target on Baidu from $130.00 to $115.00 and set an “outperform” rating for the company in a research note on Tuesday, November 12th. Finally, HSBC lowered Baidu from a “buy” rating to a “hold” rating and set a $100.00 target price for the company. in a report on Tuesday, September 24th. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Baidu currently has a consensus rating of “Hold” and a consensus price target of $119.36.

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.