Corient IA LLC Acquires Shares of 7,000 Baidu, Inc. $BIDU

Key Points

• Corient IA LLC invested approximately $644,000 to acquire 7,000 shares of Baidu, Inc. during the first quarter, indicating institutional interest in the company.
• Baidu's stock opened at $89.85 with a market capitalization of $31.04 billion and a price-to-earnings ratio of 8.91.
• Analyst ratings for Baidu show mixed sentiment, with twelve analysts rating it a "hold" and seven a "buy," while price targets range from $81 to $140.

Corient IA LLC bought a new stake in Baidu, Inc. (NASDAQ:BIDU - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 7,000 shares of the information services provider's stock, valued at approximately $644,000.

A number of other institutional investors also recently bought and sold shares of BIDU. Geode Capital Management LLC lifted its holdings in Baidu by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 120,628 shares of the information services provider's stock valued at $10,170,000 after acquiring an additional 1,020 shares during the period. Cerity Partners LLC lifted its holdings in Baidu by 17.5% in the fourth quarter. Cerity Partners LLC now owns 4,281 shares of the information services provider's stock valued at $365,000 after acquiring an additional 638 shares during the period. Raymond James Financial Inc. bought a new position in Baidu in the fourth quarter valued at about $3,497,000. Rockefeller Capital Management L.P. lifted its holdings in Baidu by 16.1% in the fourth quarter. Rockefeller Capital Management L.P. now owns 29,110 shares of the information services provider's stock valued at $2,454,000 after acquiring an additional 4,047 shares during the period. Finally, GeoWealth Management LLC lifted its holdings in Baidu by 88.5% in the fourth quarter. GeoWealth Management LLC now owns 656 shares of the information services provider's stock valued at $55,000 after acquiring an additional 308 shares during the period.

Baidu Price Performance

NASDAQ BIDU traded down $2.31 during trading hours on Wednesday, reaching $86.76. The company's stock had a trading volume of 9,309,588 shares, compared to its average volume of 4,400,341. Baidu, Inc. has a 1 year low of $74.71 and a 1 year high of $116.25. The company has a quick ratio of 2.29, a current ratio of 2.29 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $29.97 billion, a price-to-earnings ratio of 8.61 and a beta of 0.34. The firm's 50-day moving average price is $87.65 and its 200-day moving average price is $88.44.

Analysts Set New Price Targets

A number of research analysts have weighed in on BIDU shares. Macquarie reissued a "neutral" rating on shares of Baidu in a report on Wednesday, May 21st. Barclays lowered their price objective on Baidu from $84.00 to $81.00 and set an "equal weight" rating on the stock in a research report on Friday, July 18th. Benchmark cut their price objective on Baidu from $130.00 to $120.00 and set a "buy" rating for the company in a research note on Thursday, May 22nd. Citigroup increased their target price on shares of Baidu from $138.00 to $140.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Finally, Jefferies Financial Group reduced their target price 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. Seven investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company's stock. According to MarketBeat, Baidu has a consensus rating of "Hold" and an average target price of $105.09.

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.