Freestone Capital Holdings LLC Acquires Shares of 11,070 Baidu, Inc. $BIDU

Key Points

• Freestone Capital Holdings LLC acquired 11,070 shares of Baidu, Inc. worth approximately $1,019,000 in the first quarter.
• Analysts have set mixed price targets for Baidu, with Citigroup raising their target to $140.00, while Barclays lowered theirs to $81.00.
• Baidu currently has an average rating of "Hold" among analysts, with a consensus price target of $105.09.

Freestone Capital Holdings LLC acquired a new stake in shares of Baidu, Inc. (NASDAQ:BIDU - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 11,070 shares of the information services provider's stock, valued at approximately $1,019,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. International Assets Investment Management LLC lifted its holdings in shares of Baidu by 0.7% during the first quarter. International Assets Investment Management LLC now owns 16,100 shares of the information services provider's stock valued at $1,482,000 after acquiring an additional 114 shares during the period. UMB Bank n.a. lifted its holdings in shares of Baidu by 80.3% during the first quarter. UMB Bank n.a. now owns 402 shares of the information services provider's stock valued at $37,000 after acquiring an additional 179 shares during the period. Assetmark Inc. lifted its holdings in shares of Baidu by 143.3% during the first quarter. Assetmark Inc. now owns 326 shares of the information services provider's stock valued at $30,000 after acquiring an additional 192 shares during the period. Investors Research Corp lifted its holdings in shares of Baidu by 20.5% during the first quarter. Investors Research Corp now owns 1,760 shares of the information services provider's stock valued at $162,000 after acquiring an additional 300 shares during the period. Finally, Harvest Fund Management Co. Ltd lifted its holdings in shares of Baidu by 21.4% during the first quarter. Harvest Fund Management Co. Ltd now owns 1,700 shares of the information services provider's stock valued at $156,000 after acquiring an additional 300 shares during the period.

Analysts Set New Price Targets

A number of research analysts have issued reports on BIDU shares. Citigroup lifted their price objective on Baidu from $138.00 to $140.00 and gave the company a "buy" rating in a report on Thursday, July 17th. Barclays cut their price target on Baidu from $84.00 to $81.00 and set an "equal weight" rating for the company in a report on Friday, July 18th. Jefferies Financial Group cut their price target on Baidu from $120.00 to $110.00 and set a "buy" rating for the company in a report on Wednesday, July 16th. Macquarie reaffirmed a "neutral" rating on shares of Baidu in a report on Wednesday, May 21st. Finally, Benchmark cut their price target on Baidu from $130.00 to $120.00 and set a "buy" rating for the company in a report on Thursday, May 22nd. Twelve analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Baidu currently has an average rating of "Hold" and a consensus price target of $105.09.

Baidu Stock Performance

Shares of NASDAQ:BIDU opened at $89.85 on Monday. The stock has a market capitalization of $31.04 billion, a P/E ratio of 8.91 and a beta of 0.34. Baidu, Inc. has a 1-year low of $74.71 and a 1-year high of $116.25. The company has a current ratio of 2.29, a quick ratio of 2.29 and a debt-to-equity ratio of 0.27. The business has a 50-day moving average price of $87.61 and a two-hundred day moving average price of $88.45.

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.

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