Central Asset Investments & Management Holdings HK Ltd Purchases New Holdings in Baidu, Inc. (NASDAQ:BIDU)

Key Points

• Central Asset Investments & Management Holdings HK Ltd acquired 30,000 shares of Baidu, Inc. (NASDAQ:BIDU) in the first quarter, valued at approximately $2.76 million, making it the firm's 6th largest holding at about 4.7% of their portfolio.
• Multiple institutional investors have increased or initiated positions in Baidu, with significant boosts including Assetmark Inc. up 143.3% and UMB Bank n.a. up 80.3% in their holdings during the same period.
• Baidu has received mixed ratings from analysts, with a consensus rating of "Hold" and a target price ranging from $81.00 to $140.00, reflecting varied market expectations surrounding the company's performance.

Central Asset Investments & Management Holdings HK Ltd purchased a new stake in shares of Baidu, Inc. (NASDAQ:BIDU - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 30,000 shares of the information services provider's stock, valued at approximately $2,761,000. Baidu accounts for approximately 4.7% of Central Asset Investments & Management Holdings HK Ltd's portfolio, making the stock its 6th largest holding.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Creekmur Asset Management LLC acquired a new stake in Baidu during the first quarter valued at approximately $29,000. Assetmark Inc. boosted its holdings in shares of Baidu by 143.3% in the 1st quarter. Assetmark Inc. now owns 326 shares of the information services provider's stock worth $30,000 after acquiring an additional 192 shares in the last quarter. UMB Bank n.a. boosted its holdings in shares of 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 acquiring an additional 179 shares in the last quarter. CX Institutional acquired a new position in shares of Baidu in the 1st quarter worth approximately $49,000. Finally, GeoWealth Management LLC boosted its holdings in shares of 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 acquiring an additional 308 shares in the last quarter.

Baidu Price Performance

Shares of NASDAQ BIDU opened at $85.99 on Tuesday. The firm has a market cap of $29.71 billion, a P/E ratio of 8.53 and a beta of 0.34. The company has a current ratio of 2.29, a quick 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 business's 50 day moving average is $87.26 and its 200-day moving average is $88.50.

Wall Street Analysts Forecast Growth

BIDU has been the topic of several research reports. Macquarie reaffirmed a "neutral" rating on shares of Baidu in a report on Wednesday, May 21st. Jefferies Financial Group dropped their target price 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. 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. Barclays lowered their price objective 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, Citigroup upped their price objective 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. Twelve analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $105.09.

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.

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