Integrity Alliance LLC. Makes New $247,000 Investment in Baidu, Inc. $BIDU

Key Points

• Integrity Alliance LLC has made a new investment in Baidu, Inc. by purchasing 2,688 shares valued at approximately $247,000 during the first quarter.
• Multiple institutional investors have altered their positions in Baidu, including Creekmur Asset Management and Assetmark Inc., contributing to a growing interest in the stock.
• Analyst ratings for Baidu show mixed opinions, with Jefferies Financial Group lowering their target from $120 to $110 while Citigroup increased theirs from $138 to $140, reflecting varying confidence in the company’s future performance.

Integrity Alliance LLC. acquired a new stake in shares of Baidu, Inc. (NASDAQ:BIDU - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 2,688 shares of the information services provider's stock, valued at approximately $247,000.

Other institutional investors also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. boosted its position in Baidu by 1,377.5% in the first 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 purchasing an additional 4,964,350 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in Baidu by 319.9% in the first quarter. Massachusetts Financial Services Co. MA now owns 807,322 shares of the information services provider's stock worth $74,298,000 after purchasing an additional 615,061 shares during the last quarter. Triata Capital Ltd boosted its position in Baidu by 193.9% in the first quarter. Triata Capital Ltd now owns 568,432 shares of the information services provider's stock worth $52,313,000 after purchasing an additional 375,007 shares during the last quarter. Polunin Capital Partners Ltd purchased a new position in Baidu in the first quarter worth about $31,748,000. Finally, Mondrian Investment Partners LTD boosted its position in Baidu by 41.7% in the first quarter. Mondrian Investment Partners LTD now owns 777,534 shares of the information services provider's stock worth $71,556,000 after purchasing an additional 228,623 shares during the last quarter.

Analyst Upgrades and Downgrades

Several research firms have recently commented on BIDU. Zacks Research raised Baidu from a "strong sell" rating to a "hold" rating in a research note on Tuesday. Barclays decreased their price objective on Baidu from $84.00 to $81.00 and set an "equal weight" rating on the stock in a research note on Friday, July 18th. Wall Street Zen downgraded Baidu from a "hold" rating to a "sell" rating in a research note on Friday, August 22nd. Zephirin Group began coverage on Baidu in a research note on Monday. They issued a "sell" rating and a $92.00 price objective on the stock. Finally, Susquehanna raised their price objective on Baidu from $85.00 to $95.00 and gave the stock a "neutral" rating in a research note on Tuesday, September 2nd. Seven investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $114.27.

Baidu Price Performance

BIDU traded down $2.58 on Thursday, hitting $135.25. 9,251,658 shares of the company's stock traded hands, compared to its average volume of 6,908,752. The company's 50 day simple moving average is $95.08 and its 200-day simple moving average is $90.44. The firm has a market cap of $46.72 billion, a price-to-earnings ratio of 12.47 and a beta of 0.34. Baidu, Inc. has a one year low of $74.71 and a one year high of $138.00. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.19.

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.