Financiere des Professionnels Fonds d investissement inc. Purchases New Shares in Baidu, Inc. (NASDAQ:BIDU)

Financiere des Professionnels Fonds d investissement inc. acquired a new stake in shares of Baidu, Inc. (NASDAQ:BIDU - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 13,895 shares of the information services provider's stock, valued at approximately $1,279,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. UMB Bank n.a. increased its holdings in shares of Baidu by 80.3% during the first quarter. UMB Bank n.a. now owns 402 shares of the information services provider's stock valued at $37,000 after acquiring an additional 179 shares in the last quarter. Rialto Wealth Management LLC bought a new stake in Baidu in the 4th quarter worth about $42,000. CX Institutional bought a new stake in Baidu in the 1st quarter worth about $49,000. GeoWealth Management LLC increased its holdings in Baidu by 88.5% in the 4th quarter. GeoWealth Management LLC now owns 656 shares of the information services provider's stock worth $55,000 after buying an additional 308 shares in the last quarter. Finally, Silver Oak Securities Incorporated bought a new stake in Baidu in the 1st quarter worth about $97,000.

Baidu Price Performance

NASDAQ BIDU traded down $1.72 during trading hours on Wednesday, reaching $88.56. The company's stock had a trading volume of 1,288,120 shares, compared to its average volume of 4,096,143. The firm's 50-day moving average price is $86.78 and its 200-day moving average price is $87.66. The company has a quick ratio of 2.29, a current ratio of 2.29 and a debt-to-equity ratio of 0.27. Baidu, Inc. has a 1 year low of $74.71 and a 1 year high of $116.25. The company has a market capitalization of $30.59 billion, a price-to-earnings ratio of 8.79 and a beta of 0.33.

Wall Street Analyst Weigh In

BIDU has been the subject of several research analyst reports. Macquarie reiterated a "neutral" rating on shares of Baidu in a report on Wednesday, May 21st. Citigroup cut their price target on Baidu from $139.00 to $138.00 and set a "buy" rating for the company in a research note on Thursday, May 22nd. Barclays set a $84.00 price target on Baidu and gave the company an "equal weight" rating in a research note on Thursday, May 22nd. Finally, Benchmark cut their price target on Baidu from $130.00 to $120.00 and set a "buy" rating for the company in a research note on Thursday, May 22nd. Twelve equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $107.82.

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.