Westend Capital Management LLC Purchases Shares of 75,562 Baidu, Inc. $BIDU

Westend Capital Management LLC acquired a new position in shares of Baidu, Inc. (NASDAQ:BIDU) in the third quarter, HoldingsChannel.com reports. The firm acquired 75,562 shares of the information services provider’s stock, valued at approximately $9,957,000. Baidu accounts for 2.9% of Westend Capital Management LLC’s investment portfolio, making the stock its 19th biggest holding.

Several other large investors also recently modified their holdings of BIDU. Binnacle Investments Inc acquired a new stake in shares of Baidu during the 2nd quarter worth about $29,000. Winthrop Capital Management LLC acquired a new position in Baidu in the 2nd quarter valued at about $39,000. Mizuho Securities Co. Ltd. bought a new position in Baidu in the 2nd quarter valued at about $43,000. CX Institutional lifted its position in Baidu by 34.1% during the second quarter. CX Institutional now owns 715 shares of the information services provider’s stock worth $61,000 after acquiring an additional 182 shares during the last quarter. Finally, Assetmark Inc. lifted its position in Baidu by 127.6% during the second quarter. Assetmark Inc. now owns 742 shares of the information services provider’s stock worth $64,000 after acquiring an additional 416 shares during the last quarter.

Baidu Price Performance

Baidu stock opened at $124.80 on Monday. The firm has a market cap of $43.11 billion, a PE ratio of 41.46 and a beta of 0.44. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.91 and a quick ratio of 1.91. The stock’s fifty day moving average price is $121.82 and its two-hundred day moving average price is $108.66. Baidu, Inc. has a one year low of $74.71 and a one year high of $149.51.

Analyst Upgrades and Downgrades

Several research firms have recently commented on BIDU. Daiwa Capital Markets set a $160.00 target price on Baidu and gave the company a “buy” rating in a research report on Tuesday, October 14th. National Bankshares upgraded Baidu to an “outperform” rating in a research note on Monday, November 24th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Baidu in a report on Monday, December 22nd. Jefferies Financial Group increased their price objective on Baidu from $108.00 to $157.00 and gave the stock a “buy” rating in a research report on Wednesday, September 17th. Finally, Nomura set a $140.00 target price on shares of Baidu and gave the company a “buy” rating in a research report on Thursday, November 20th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Baidu currently has a consensus rating of “Moderate Buy” and an average target price of $146.11.

About Baidu

Baidu, Inc, founded in 2000 and headquartered in Beijing, is a Chinese multinational technology company best known for operating one of China’s leading internet search engines. The company built its business around online search and related advertising services, providing search, content aggregation and targeted ad placements to consumers and marketers across China. Baidu went public on the NASDAQ in 2005 and has since diversified beyond search into a broader technology and AI-focused portfolio.

Core products and services include the Baidu search platform and mobile app, Baidu Maps and Baidu Baike (an online encyclopedia), along with digital content initiatives.