Cetera Investment Advisers Increases Stock Position in Baidu, Inc. (NASDAQ:BIDU)

Cetera Investment Advisers raised its stake in Baidu, Inc. (NASDAQ:BIDU - Free Report) by 26.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 30,029 shares of the information services provider's stock after acquiring an additional 6,246 shares during the period. Cetera Investment Advisers' holdings in Baidu were worth $2,764,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Creekmur Asset Management LLC bought a new stake in Baidu in the first quarter valued at $29,000. UMB Bank n.a. raised its position in Baidu by 80.3% in the 1st quarter. UMB Bank n.a. now owns 402 shares of the information services provider's stock worth $37,000 after purchasing an additional 179 shares during the last quarter. CX Institutional bought a new position in Baidu in the 1st quarter worth approximately $49,000. GeoWealth Management LLC raised its position 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 purchasing an additional 308 shares during the last quarter. Finally, Silver Oak Securities Incorporated bought a new position in Baidu in the 1st quarter worth approximately $97,000.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on BIDU shares. Jefferies Financial Group dropped their price objective on shares of Baidu from $120.00 to $110.00 and set a "buy" rating for the company in a research report on Wednesday, July 16th. Citigroup upped their target price on shares of Baidu from $138.00 to $140.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Macquarie reiterated a "neutral" rating on shares of Baidu in a research report on Wednesday, May 21st. Barclays dropped their target price on shares of Baidu from $84.00 to $81.00 and set an "equal weight" rating for the company in a research report on Friday, July 18th. Finally, Benchmark dropped their target price on shares of Baidu from $130.00 to $120.00 and set a "buy" rating for the company in a research report on Thursday, May 22nd. Twelve investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $105.09.

Baidu Trading Down 0.1%

Shares of Baidu stock traded down $0.11 during trading on Friday, reaching $87.36. The company's stock had a trading volume of 1,976,517 shares, compared to its average volume of 4,523,904. Baidu, Inc. has a 52-week low of $74.71 and a 52-week high of $116.25. The company has a market cap of $30.18 billion, a price-to-earnings ratio of 8.67 and a beta of 0.34. The firm's 50-day moving average is $87.21 and its two-hundred day moving average is $88.43. 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 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.