Independent Advisor Alliance Takes $273,000 Position in Baidu, Inc. $BIDU

Key Points

• Independent Advisor Alliance has purchased 2,962 shares of Baidu, Inc. (NASDAQ:BIDU), valued at approximately $273,000, during the first quarter.
• Analyst ratings for Baidu vary, with many maintaining a "buy" or "hold" rating, while target prices range from $81.00 to $140.00.
• Baidu stock recently opened at $89.85, with a market capitalization of $31.04 billion and a 52-week price range of $74.71 to $116.25.

Independent Advisor Alliance purchased a new position in shares of Baidu, Inc. (NASDAQ:BIDU - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,962 shares of the information services provider's stock, valued at approximately $273,000.

Other large investors also recently made changes to their positions in the company. Creekmur Asset Management LLC purchased a new position in shares of Baidu during the 1st quarter worth $29,000. Assetmark Inc. lifted its stake in shares of Baidu by 143.3% during the 1st quarter. Assetmark Inc. now owns 326 shares of the information services provider's stock worth $30,000 after purchasing an additional 192 shares during the period. UMB Bank n.a. lifted its stake in shares of Baidu by 80.3% during the 1st quarter. UMB Bank n.a. now owns 402 shares of the information services provider's stock worth $37,000 after purchasing an additional 179 shares during the period. CX Institutional acquired a new stake in shares of Baidu during the 1st quarter worth $49,000. Finally, GeoWealth Management LLC increased its holdings in shares of Baidu by 88.5% during the 4th quarter. GeoWealth Management LLC now owns 656 shares of the information services provider's stock worth $55,000 after buying an additional 308 shares during the last quarter.

Wall Street Analysts Forecast Growth

BIDU has been the subject of a number of research analyst reports. Barclays dropped their price objective on Baidu from $84.00 to $81.00 and set an "equal weight" rating for the company in a report on Friday, July 18th. Citigroup upped 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. Jefferies Financial Group dropped their price objective on Baidu from $120.00 to $110.00 and set a "buy" rating for the company in a report on Wednesday, July 16th. Macquarie restated a "neutral" rating on shares of Baidu in a report on Wednesday, May 21st. Finally, Benchmark dropped their price objective on Baidu from $130.00 to $120.00 and set a "buy" rating for the company in a report on Thursday, May 22nd. Seven investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $105.09.

Baidu Stock Down 1.2%

NASDAQ BIDU traded down $1.06 during trading hours on Tuesday, hitting $89.07. The company had a trading volume of 3,577,025 shares, compared to its average volume of 4,368,748. Baidu, Inc. has a fifty-two week low of $74.71 and a fifty-two week high of $116.25. The company has a market capitalization of $30.77 billion, a price-to-earnings ratio of 8.84 and a beta of 0.34. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.29 and a quick ratio of 2.29. The firm's 50 day moving average is $87.64 and its 200 day moving average is $88.45.

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.