Ridgewood Investments LLC Has $896,000 Holdings in Baidu, Inc. (NASDAQ:BIDU)

Key Points

• Ridgewood Investments LLC significantly increased its holdings in Baidu, Inc. by 67.7%, now owning 10,093 shares valued at approximately $896,000.
• Several other institutional investors have also raised their stakes in Baidu, with increases ranging from 0.7% to 143.3% during the first quarter.
• Current analyst ratings for Baidu reflect a mix of sentiment, with an average rating of "Hold" and target prices ranging from $81.00 to $140.00.

Ridgewood Investments LLC grew its holdings in Baidu, Inc. (NASDAQ:BIDU - Free Report) by 67.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,093 shares of the information services provider's stock after acquiring an additional 4,076 shares during the period. Ridgewood Investments LLC's holdings in Baidu were worth $896,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Dodge & Cox boosted its holdings in shares of Baidu by 0.4% during the 4th quarter. Dodge & Cox now owns 5,916,215 shares of the information services provider's stock worth $498,796,000 after buying an additional 22,000 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Baidu by 1,377.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,324,728 shares of the information services provider's stock worth $490,035,000 after buying an additional 4,964,350 shares during the period. Pictet Asset Management Holding SA boosted its holdings in shares of Baidu by 9.4% during the 4th quarter. Pictet Asset Management Holding SA now owns 2,410,307 shares of the information services provider's stock worth $203,213,000 after buying an additional 207,966 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Baidu by 0.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,350,315 shares of the information services provider's stock valued at $113,845,000 after purchasing an additional 4,236 shares during the period. Finally, CoreView Capital Management Ltd boosted its holdings in Baidu by 2.0% in the 4th quarter. CoreView Capital Management Ltd now owns 1,262,003 shares of the information services provider's stock valued at $106,399,000 after purchasing an additional 25,220 shares during the period.

Baidu Price Performance

BIDU traded up $1.96 during midday trading on Thursday, hitting $87.90. The company had a trading volume of 3,052,387 shares, compared to its average volume of 4,441,189. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.29 and a current ratio of 2.29. The company has a market capitalization of $30.36 billion, a PE ratio of 8.72 and a beta of 0.33. Baidu, Inc. has a twelve month low of $74.71 and a twelve month high of $116.25. The firm's 50-day simple moving average is $86.72 and its 200-day simple moving average is $88.15.

Analyst Ratings Changes

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

Baidu Company 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.