Integrity Alliance LLC. Makes New 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. 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 filing with the Securities & Exchange Commission. The institutional investor purchased 2,688 shares of the information services provider's stock, valued at approximately $247,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Creekmur Asset Management LLC purchased a new position in shares of Baidu in the first quarter valued at approximately $29,000. Assetmark Inc. lifted its position in shares of Baidu by 143.3% in 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 in the last quarter. UMB Bank n.a. lifted its position in shares of Baidu by 80.3% in 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 in the last quarter. CX Institutional purchased a new position in shares of Baidu in the first quarter valued at approximately $49,000. Finally, Silver Oak Securities Incorporated purchased a new stake in Baidu in the 1st quarter valued at $97,000.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Jefferies Financial Group cut their target price on Baidu from $120.00 to $110.00 and set a "buy" rating for the company in a research note on Wednesday, July 16th. Barclays cut their target price on Baidu from $84.00 to $81.00 and set an "equal weight" rating for the company in a research note on Friday, July 18th. Citigroup raised their target price on Baidu from $138.00 to $140.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. Wall Street Zen downgraded Baidu from a "hold" rating to a "sell" rating in a research note on Friday, August 22nd. Finally, Susquehanna increased their price target on Baidu from $85.00 to $95.00 and gave the stock a "neutral" rating in a report on Tuesday, September 2nd. Five analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Baidu presently has an average rating of "Hold" and an average price target of $104.00.

Baidu Stock Performance

Shares of Baidu stock opened at $114.78 on Friday. The business has a 50-day moving average of $91.99 and a 200 day moving average of $89.31. Baidu, Inc. has a 12 month low of $74.71 and a 12 month high of $116.91. The stock has a market capitalization of $39.65 billion, a price-to-earnings ratio of 10.58 and a beta of 0.34. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.85 and a quick ratio of 1.85.

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.

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