Janney Montgomery Scott LLC acquired a new stake in Baidu, Inc. (NASDAQ:BIDU - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 2,974 shares of the information services provider's stock, valued at approximately $274,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Avaii Wealth Management LLC acquired a new position in Baidu in the 1st quarter valued at $312,000. Matauro LLC acquired a new position in Baidu in the 1st quarter valued at $213,000. Compagnie Lombard Odier SCmA acquired a new stake in shares of Baidu during the 1st quarter worth $780,000. Union Bancaire Privee UBP SA grew its holdings in shares of Baidu by 313.4% during the 1st quarter. Union Bancaire Privee UBP SA now owns 27,352 shares of the information services provider's stock worth $2,517,000 after purchasing an additional 20,735 shares in the last quarter. Finally, Greenwood Capital Associates LLC acquired a new stake in shares of Baidu during the 1st quarter worth $2,621,000.
Analyst Upgrades and Downgrades
Several research firms have recently issued reports on BIDU. Citigroup reduced their target price on Baidu from $139.00 to $138.00 and set a "buy" rating on the stock 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 report on Thursday, May 22nd. Benchmark reduced their target price on Baidu from $130.00 to $120.00 and set a "buy" rating on the stock in a report on Thursday, May 22nd. Finally, Macquarie reissued a "neutral" rating on shares of Baidu in a report on Wednesday, May 21st. Twelve research 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 a consensus rating of "Hold" and a consensus target price of $107.82.
Read Our Latest Analysis on Baidu
Baidu Price Performance
NASDAQ:BIDU traded up $3.44 during trading hours on Monday, hitting $89.79. The company's stock had a trading volume of 6,780,937 shares, compared to its average volume of 4,107,917. The stock has a fifty day simple moving average of $86.77 and a 200-day simple moving average of $87.62. The company has a market capitalization of $31.02 billion, a P/E ratio of 8.91 and a beta of 0.33. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.29 and a quick ratio of 2.29. Baidu, Inc. has a twelve month low of $74.71 and a twelve month high of $116.25.
Baidu Profile
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Free Report)
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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