Cerity Partners LLC Grows Holdings in Baidu, Inc. (NASDAQ:BIDU)

Cerity Partners LLC boosted its stake in Baidu, Inc. (NASDAQ:BIDU - Free Report) by 160.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,138 shares of the information services provider's stock after acquiring an additional 6,857 shares during the period. Cerity Partners LLC's holdings in Baidu were worth $1,025,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. FNY Investment Advisers LLC purchased a new position in Baidu in the 1st quarter worth approximately $922,000. Janney Montgomery Scott LLC purchased a new position in Baidu in the first quarter worth $274,000. Ameriprise Financial Inc. increased its stake in Baidu by 7.5% in the fourth quarter. Ameriprise Financial Inc. now owns 45,949 shares of the information services provider's stock valued at $3,874,000 after acquiring an additional 3,200 shares during the last quarter. Diametric Capital LP raised its position in Baidu by 51.9% during the fourth quarter. Diametric Capital LP now owns 8,218 shares of the information services provider's stock valued at $693,000 after purchasing an additional 2,809 shares in the last quarter. Finally, Cantor Fitzgerald L. P. lifted its stake in Baidu by 1,510.9% during the fourth quarter. Cantor Fitzgerald L. P. now owns 399,975 shares of the information services provider's stock worth $33,722,000 after purchasing an additional 375,145 shares during the last quarter.

Analyst Ratings Changes

Several research analysts have recently commented on BIDU shares. Citigroup lifted their price objective on Baidu from $138.00 to $140.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Macquarie reiterated a "neutral" rating on shares of Baidu in a research report on Wednesday, May 21st. Barclays cut their target price on shares of Baidu from $84.00 to $81.00 and set an "equal weight" rating on the stock in a report on Friday, July 18th. Jefferies Financial Group lowered their price target on shares of Baidu from $120.00 to $110.00 and set a "buy" rating for the company in a report on Wednesday, July 16th. Finally, Benchmark cut their price target 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. Twelve 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.com, Baidu currently has an average rating of "Hold" and a consensus price target of $105.09.

Baidu Trading Up 4.1%

NASDAQ BIDU opened at $92.45 on Wednesday. Baidu, Inc. has a 12 month low of $74.71 and a 12 month high of $116.25. The company's 50-day moving average price is $86.71 and its 200-day moving average price is $87.79. The stock has a market cap of $31.94 billion, a PE ratio of 9.17 and a beta of 0.33. 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 Company 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.

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