NewEdge Advisors LLC Increases Holdings in Baidu, Inc. $BIDU

Key Points

• NewEdge Advisors increased its Baidu stake by 39.7% in the first quarter, adding 13,598 shares to own 47,855 shares valued at approximately $5.33 million.
• Baidu shares opened at $105.94, below both their 50-day and 200-day moving averages, and remain well below the 52-week high of $165.30.
• Analyst sentiment is broadly positive, with a “Moderate Buy” consensus and an average price target of $165.33, despite ratings ranging from “Strong Buy” to “Sell.”

NewEdge Advisors LLC grew its stake in Baidu, Inc. (NASDAQ:BIDU - Free Report) by 39.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 47,855 shares of the information services provider's stock after acquiring an additional 13,598 shares during the quarter. NewEdge Advisors LLC's holdings in Baidu were worth $5,332,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of BIDU. Signature Equity Partners LLC purchased a new position in shares of Baidu in the 1st quarter worth about $25,000. Binnacle Investments Inc purchased a new stake in Baidu during the 2nd quarter valued at about $29,000. Sankala Group LLC bought a new stake in Baidu during the 4th quarter valued at about $46,000. Brown Brothers Harriman & Co. raised its holdings in Baidu by 35.0% in the fourth quarter. Brown Brothers Harriman & Co. now owns 405 shares of the information services provider's stock worth $53,000 after buying an additional 105 shares during the last quarter. Finally, UMB Bank n.a. raised its holdings in Baidu by 25.9% in the fourth quarter. UMB Bank n.a. now owns 428 shares of the information services provider's stock worth $56,000 after buying an additional 88 shares during the last quarter.

Baidu Stock Performance

Shares of NASDAQ BIDU opened at $105.94 on Wednesday. The firm's 50-day moving average price is $112.59 and its 200-day moving average price is $123.69. Baidu, Inc. has a 52-week low of $84.82 and a 52-week high of $165.30. The company has a market cap of $36.05 billion, a PE ratio of -882.76, a PEG ratio of 2.37 and a beta of 0.58. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.22.

Analyst Ratings Changes

BIDU has been the topic of several analyst reports. Barclays dropped their target price on shares of Baidu from $128.00 to $124.00 and set an "equal weight" rating on the stock in a research note on Monday, July 13th. Zacks Research lowered shares of Baidu from a "hold" rating to a "strong sell" rating in a report on Monday, July 20th. Morgan Stanley upped their price objective on Baidu from $135.00 to $140.00 in a research report on Tuesday, May 19th. Benchmark reiterated a "buy" rating and set a $215.00 target price on shares of Baidu in a research note on Tuesday, May 19th. Finally, Susquehanna lifted their target price on Baidu from $120.00 to $140.00 and gave the stock a "neutral" rating in a report on Wednesday, May 20th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $165.33.

About Baidu

Baidu, Inc, founded in 2000 and headquartered in Beijing, is a Chinese multinational technology company best known for operating one of China's leading internet search engines. The company built its business around online search and related advertising services, providing search, content aggregation and targeted ad placements to consumers and marketers across China. Baidu went public on the NASDAQ in 2005 and has since diversified beyond search into a broader technology and AI-focused portfolio.

Core products and services include the Baidu search platform and mobile app, Baidu Maps and Baidu Baike (an online encyclopedia), along with digital content initiatives.

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