NewEdge Advisors LLC Has $1.96 Million Stock Position in Baidu, Inc. $BIDU

Key Points

• NewEdge Advisors LLC significantly increased its stake in Baidu, Inc. by 39,363% in the first quarter, bringing its total holdings to 21,310 shares valued at approximately $1.96 million.
• Several hedge funds and institutional investors have also raised their positions in Baidu, indicating growing interest in the company's stock amid a competitive market.
• Current analyst ratings reflect a mix of sentiment, with five analysts giving a "Buy" rating while eleven recommend holding, and the average target price standing at $104.00.

NewEdge Advisors LLC increased its stake in Baidu, Inc. (NASDAQ:BIDU - Free Report) by 39,363.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 21,310 shares of the information services provider's stock after purchasing an additional 21,256 shares during the period. NewEdge Advisors LLC's holdings in Baidu were worth $1,961,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Integrated Wealth Concepts LLC raised its stake in Baidu by 28.0% in the first quarter. Integrated Wealth Concepts LLC now owns 7,787 shares of the information services provider's stock valued at $717,000 after purchasing an additional 1,705 shares in the last quarter. Edmond DE Rothschild Holding S.A. raised its stake in Baidu by 23.4% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 14,516 shares of the information services provider's stock valued at $1,336,000 after purchasing an additional 2,756 shares in the last quarter. Banque Transatlantique SA acquired a new position in Baidu in the first quarter valued at about $268,000. 683 Capital Management LLC raised its stake in Baidu by 4.4% in the first quarter. 683 Capital Management LLC now owns 177,500 shares of the information services provider's stock valued at $16,335,000 after purchasing an additional 7,500 shares in the last quarter. Finally, Hhlr Advisors LTD. acquired a new position in Baidu in the first quarter valued at about $15,645,000.

Analysts Set New Price Targets

A number of research analysts recently commented on BIDU shares. Barclays dropped their price target 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. Macquarie reissued a "neutral" rating on shares of Baidu in a research note on Wednesday, May 21st. Susquehanna boosted their target price on Baidu from $85.00 to $95.00 and gave the stock a "neutral" rating in a research note on Tuesday, September 2nd. Citigroup boosted 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. Finally, Benchmark lowered their target price on Baidu from $120.00 to $115.00 and set a "buy" rating for the company in a research note on Thursday, August 21st. Five investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $104.00.

Baidu Price Performance

BIDU stock opened at $111.82 on Friday. The company has a fifty day moving average price of $91.42 and a 200-day moving average price of $89.13. The company has a market capitalization of $38.63 billion, a P/E ratio of 10.31 and a beta of 0.34. Baidu, Inc. has a 52-week low of $74.71 and a 52-week high of $116.25. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.85 and a current ratio of 1.85.

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.

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