14,230 Shares in Baidu, Inc. (NASDAQ:BIDU) Acquired by Goodman Advisory Group LLC

Goodman Advisory Group LLC purchased a new position in shares of Baidu, Inc. (NASDAQ:BIDU - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 14,230 shares of the information services provider's stock, valued at approximately $1,310,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Sumitomo Mitsui Trust Group Inc. acquired a new position in shares of Baidu during the first quarter worth $13,964,000. Mirae Asset Global Investments Co. Ltd. grew its position in Baidu by 1,377.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,324,728 shares of the information services provider's stock worth $490,035,000 after acquiring an additional 4,964,350 shares during the last quarter. International Assets Investment Management LLC increased its holdings in Baidu by 0.7% in the 1st quarter. International Assets Investment Management LLC now owns 16,100 shares of the information services provider's stock worth $1,482,000 after purchasing an additional 114 shares in the last quarter. Oppenheimer & Co. Inc. boosted its stake in shares of Baidu by 67.9% during the first quarter. Oppenheimer & Co. Inc. now owns 9,457 shares of the information services provider's stock valued at $870,000 after purchasing an additional 3,824 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its stake in shares of Baidu by 7.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 6,914 shares of the information services provider's stock valued at $636,000 after buying an additional 509 shares during the period.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on BIDU shares. Citigroup decreased their price target on shares of Baidu from $139.00 to $138.00 and set a "buy" rating for the company in a research report on Thursday, May 22nd. Macquarie restated a "neutral" rating on shares of Baidu in a research report on Wednesday, May 21st. Benchmark decreased 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. Barclays set a $84.00 target price on Baidu and gave the stock an "equal weight" rating in a research note on Thursday, May 22nd. Finally, Sanford C. Bernstein reissued a "market perform" rating on shares of Baidu in a research note on Saturday, March 8th. Twelve research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $107.82.

Baidu Stock Up 0.5%

BIDU stock traded up $0.40 during mid-day trading on Wednesday, reaching $86.44. 1,693,708 shares of the company traded hands, compared to its average volume of 4,090,098. 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 firm's 50 day moving average price is $86.94 and its 200 day moving average price is $87.66. The stock has a market cap of $29.86 billion, a price-to-earnings ratio of 8.58 and a beta of 0.33. Baidu, Inc. has a fifty-two week low of $74.71 and a fifty-two week high of $116.25.

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.