Nations Financial Group Inc. IA ADV Takes $2.38 Million Position in Baidu, Inc. (NASDAQ:BIDU)

Key Points

• Nations Financial Group Inc. IA ADV acquired a new position in Baidu, purchasing 25,841 shares for approximately $2.38 million during the first quarter, according to a 13F filing.
• In its recent analysis, Citigroup raised Baidu's target price from $138 to $140 and rated the stock as a "buy," with a consensus rating of "Hold" among analysts.
• Baidu's shares opened at $89.85, with a market cap of $31.04 billion and P/E ratio of 8.91, reflecting its significant position in the Chinese internet search market.

Nations Financial Group Inc. IA ADV purchased a new position in shares of Baidu, Inc. (NASDAQ:BIDU - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 25,841 shares of the information services provider's stock, valued at approximately $2,378,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. FNY Investment Advisers LLC acquired a new position in Baidu during the first quarter worth about $922,000. Janney Montgomery Scott LLC purchased a new position in Baidu during the first quarter worth about $274,000. Ameriprise Financial Inc. raised its stake in Baidu by 7.5% during the fourth quarter. Ameriprise Financial Inc. now owns 45,949 shares of the information services provider's stock worth $3,874,000 after purchasing an additional 3,200 shares during the period. Cantor Fitzgerald L. P. raised its stake in Baidu by 1,510.9% during the fourth quarter. Cantor Fitzgerald L. P. now owns 399,975 shares of the information services provider's stock worth $33,722,000 after purchasing an additional 375,145 shares during the period. Finally, Nuveen Asset Management LLC raised its stake in Baidu by 19.4% during the fourth quarter. Nuveen Asset Management LLC now owns 166,858 shares of the information services provider's stock worth $14,068,000 after purchasing an additional 27,057 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on BIDU shares. Citigroup lifted their target price on shares of Baidu from $138.00 to $140.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. Macquarie reaffirmed a "neutral" rating on shares of Baidu in a research note on Wednesday, May 21st. Jefferies Financial Group reduced their target price on shares of Baidu from $120.00 to $110.00 and set a "buy" rating on the stock in a research note on Wednesday, July 16th. Benchmark reduced their target price on shares of Baidu from $130.00 to $120.00 and set a "buy" rating on the stock in a research note on Thursday, May 22nd. Finally, Barclays reduced their target price on shares of Baidu from $84.00 to $81.00 and set an "equal weight" rating on the stock in a research note on Friday, July 18th. Twelve analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, Baidu presently has a consensus rating of "Hold" and an average price target of $105.09.

Baidu Price Performance

Shares of BIDU opened at $89.85 on Friday. Baidu, Inc. has a fifty-two week low of $74.71 and a fifty-two week high of $116.25. The firm's 50 day moving average price is $87.61 and its 200 day moving average price is $88.50. The company has a market cap of $31.04 billion, a P/E ratio of 8.91 and a beta of 0.34. The company has a quick ratio of 2.29, a current ratio of 2.29 and a debt-to-equity ratio of 0.27.

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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