Tower View Wealth Management LLC Invests $1.37 Million in Baidu, Inc. $BIDU

Key Points

• Tower View Wealth Management opened a new position in Baidu (NASDAQ: BIDU) in Q4, acquiring 10,464 shares valued at about $1.37 million.
• Baidu shares opened at $112.01, trade in a 52-week range of $81.17–$165.30 with a $38.11 billion market cap, and carry an average analyst rating of Moderate Buy with a consensus target of $158.05 (recent targets range from $128 to $181).

Tower View Wealth Management LLC acquired a new position in shares of Baidu, Inc. (NASDAQ:BIDU - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 10,464 shares of the information services provider's stock, valued at approximately $1,367,000.

Several other institutional investors and hedge funds have also made changes to their positions in BIDU. Binnacle Investments Inc acquired a new stake in shares of Baidu during the second quarter worth $29,000. UMB Bank n.a. raised its holdings in shares of Baidu by 65.0% during the third quarter. UMB Bank n.a. now owns 340 shares of the information services provider's stock worth $45,000 after purchasing an additional 134 shares during the last quarter. Ameritas Advisory Services LLC raised its holdings in shares of Baidu by 12,400.0% during the third quarter. Ameritas Advisory Services LLC now owns 375 shares of the information services provider's stock worth $49,000 after purchasing an additional 372 shares during the last quarter. Sycomore Asset Management purchased a new position in shares of Baidu during the third quarter worth $79,000. Finally, Mondrian Investment Partners LTD purchased a new position in shares of Baidu during the third quarter worth $80,000.

Baidu Stock Up 3.3%

BIDU opened at $112.01 on Tuesday. Baidu, Inc. has a fifty-two week low of $81.17 and a fifty-two week high of $165.30. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.76 and a current ratio of 1.76. The company has a fifty day moving average of $124.21 and a two-hundred day moving average of $128.66. The stock has a market capitalization of $38.11 billion, a price-to-earnings ratio of 70.45 and a beta of 0.44.

Analyst Ratings Changes

Several research analysts recently issued reports on BIDU shares. Jefferies Financial Group raised their target price on shares of Baidu from $159.00 to $181.00 and gave the stock a "buy" rating in a report on Friday, January 2nd. Citigroup reissued a "buy" rating on shares of Baidu in a report on Tuesday, January 13th. Barclays reduced their target price on shares of Baidu from $147.00 to $128.00 and set an "equal weight" rating for the company in a report on Thursday, March 5th. Morgan Stanley reduced their target price on shares of Baidu from $150.00 to $135.00 and set an "equal weight" rating for the company in a report on Friday, February 27th. Finally, Zacks Research cut shares of Baidu from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 17th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $158.05.

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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