PNC Financial Services Group Inc. Acquires 845 Shares of Baidu, Inc. (NASDAQ:BIDU)

PNC Financial Services Group Inc. lifted its position in Baidu, Inc. (NASDAQ:BIDU) by 18.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,528 shares of the information services provider’s stock after purchasing an additional 845 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Baidu were worth $466,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BIDU. Atria Investments Inc purchased a new position in shares of Baidu in the 3rd quarter worth about $216,000. GSA Capital Partners LLP boosted its holdings in shares of Baidu by 40.3% in the 3rd quarter. GSA Capital Partners LLP now owns 4,859 shares of the information services provider’s stock worth $512,000 after purchasing an additional 1,396 shares in the last quarter. Oppenheimer & Co. Inc. boosted its holdings in shares of Baidu by 6.9% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 5,563 shares of the information services provider’s stock worth $586,000 after purchasing an additional 357 shares in the last quarter. Natixis Advisors LLC boosted its holdings in shares of Baidu by 18.9% in the 3rd quarter. Natixis Advisors LLC now owns 16,822 shares of the information services provider’s stock worth $1,771,000 after purchasing an additional 2,669 shares in the last quarter. Finally, Banque Cantonale Vaudoise boosted its holdings in shares of Baidu by 260.4% in the 3rd quarter. Banque Cantonale Vaudoise now owns 11,467 shares of the information services provider’s stock worth $1,207,000 after purchasing an additional 8,285 shares in the last quarter.

Baidu Stock Down 4.2 %

BIDU stock opened at $98.24 on Thursday. Baidu, Inc. has a twelve month low of $77.20 and a twelve month high of $116.25. The company has a quick ratio of 2.19, a current ratio of 2.09 and a debt-to-equity ratio of 0.19. The firm has a market cap of $34.45 billion, a PE ratio of 10.71, a price-to-earnings-growth ratio of 2.96 and a beta of 0.47. The business has a 50 day moving average of $89.45 and a 200 day moving average of $89.75.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on BIDU. Daiwa Capital Markets restated an “outperform” rating on shares of Baidu in a report on Tuesday, February 18th. Nomura Securities cut Baidu from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 19th. Barclays increased their target price on Baidu from $83.00 to $95.00 and gave the company an “equal weight” rating in a report on Tuesday, February 11th. Sanford C. Bernstein restated a “market perform” rating on shares of Baidu in a report on Saturday, March 8th. Finally, China Renaissance cut Baidu from a “buy” rating to a “hold” rating and set a $86.00 target price for the company. in a report on Monday, November 25th. Thirteen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $111.25.

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.