Avaii Wealth Management LLC Buys Shares of 3,394 Baidu, Inc. (NASDAQ:BIDU)

Avaii Wealth Management LLC bought a new position in Baidu, Inc. (NASDAQ:BIDU - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,394 shares of the information services provider's stock, valued at approximately $312,000.

Other large investors also recently made changes to their positions in the company. Mcdonald Partners LLC raised its holdings in Baidu by 41.8% during the fourth quarter. Mcdonald Partners LLC now owns 4,114 shares of the information services provider's stock worth $347,000 after purchasing an additional 1,212 shares in the last quarter. North of South Capital LLP boosted its stake in Baidu by 18.9% during the fourth quarter. North of South Capital LLP now owns 614,847 shares of the information services provider's stock valued at $51,838,000 after buying an additional 97,549 shares in the last quarter. Infini Capital Management Ltd grew its holdings in Baidu by 1,510.4% during the fourth quarter. Infini Capital Management Ltd now owns 180,360 shares of the information services provider's stock worth $15,206,000 after acquiring an additional 169,160 shares during the period. Union Bancaire Privee UBP SA acquired a new stake in Baidu in the 4th quarter valued at about $558,000. Finally, Todd Asset Management LLC boosted its position in shares of Baidu by 44.4% during the 4th quarter. Todd Asset Management LLC now owns 176,338 shares of the information services provider's stock valued at $14,867,000 after purchasing an additional 54,198 shares in the last quarter.

Baidu Stock Up 2.1%

NASDAQ BIDU traded up $1.78 during trading on Monday, hitting $87.78. 1,426,059 shares of the company traded hands, compared to its average volume of 4,123,205. The company has a market capitalization of $30.32 billion, a P/E ratio of 9.57, a PEG ratio of 2.96 and a beta of 0.33. The business has a fifty day simple moving average of $86.08 and a 200 day simple moving average of $87.85. Baidu, Inc. has a 12 month low of $74.71 and a 12 month high of $116.25. The company has a current ratio of 2.09, a quick ratio of 2.19 and a debt-to-equity ratio of 0.19.

Analyst Upgrades and Downgrades

A number of analysts recently commented on BIDU shares. Benchmark dropped their target price on shares of Baidu from $130.00 to $120.00 and set a "buy" rating on the stock in a report on Thursday, May 22nd. Citigroup cut their target price on Baidu from $139.00 to $138.00 and set a "buy" rating on the stock in a research report on Thursday, May 22nd. Barclays set a $84.00 price target on Baidu and gave the company an "equal weight" rating in a research report on Thursday, May 22nd. Wall Street Zen downgraded Baidu from a "buy" rating to a "hold" rating in a report on Wednesday, February 19th. Finally, Nomura Securities cut shares of Baidu from a "strong-buy" rating to a "hold" rating in a report on Wednesday, February 19th. Twelve investment 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.com, the stock has an average rating of "Hold" and a consensus price target of $107.82.

About Baidu

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.