Wealth Enhancement Advisory Services LLC Has $536,000 Stock Holdings in Baidu, Inc. $BIDU

Key Points

• Wealth Enhancement Advisory Services LLC increased its stake in Baidu, Inc. by 128%, holding 6,203 shares valued at approximately $536,000 at the end of the most recent quarter.
• Several hedge funds, including Creekmur Asset Management and Assetmark Inc., have altered their positions, with notable increases in stakes during the first quarter of the year.
• Baidu's stock has experienced a price range over the past year, with a low of $74.71 and a high of $145.20, currently trading at around $142.00.

Wealth Enhancement Advisory Services LLC grew its stake in Baidu, Inc. (NASDAQ:BIDU - Free Report) by 128.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,203 shares of the information services provider's stock after purchasing an additional 3,482 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Baidu were worth $536,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in BIDU. Creekmur Asset Management LLC bought a new stake in Baidu in the first quarter valued at about $29,000. Assetmark Inc. increased its stake in shares of Baidu by 143.3% in the 1st quarter. Assetmark Inc. now owns 326 shares of the information services provider's stock valued at $30,000 after acquiring an additional 192 shares during the last quarter. UMB Bank n.a. increased its stake in shares of Baidu by 80.3% in the 1st quarter. UMB Bank n.a. now owns 402 shares of the information services provider's stock valued at $37,000 after acquiring an additional 179 shares during the last quarter. CX Institutional acquired a new stake in shares of Baidu in the 1st quarter valued at approximately $49,000. Finally, Parallel Advisors LLC boosted its stake in Baidu by 17.0% during the 2nd quarter. Parallel Advisors LLC now owns 935 shares of the information services provider's stock worth $80,000 after acquiring an additional 136 shares during the last quarter.

Baidu Price Performance

NASDAQ:BIDU opened at $142.00 on Monday. Baidu, Inc. has a 12-month low of $74.71 and a 12-month high of $145.20. The firm has a market capitalization of $49.05 billion, a price-to-earnings ratio of 13.09 and a beta of 0.42. The stock's 50 day moving average price is $105.07 and its two-hundred day moving average price is $93.46. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.19.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Zephirin Group assumed coverage on shares of Baidu in a research note on Monday, September 15th. They issued a "sell" rating and a $92.00 target price for the company. Citigroup boosted 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. Zacks Research raised Baidu from a "strong sell" rating to a "hold" rating in a research note on Tuesday, September 16th. Nomura lifted their target price on Baidu from $91.00 to $135.00 and gave the stock a "neutral" rating in a report on Monday, September 22nd. Finally, Barclays lowered their price target on Baidu from $84.00 to $81.00 and set an "equal weight" rating for the company in a report on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Baidu currently has an average rating of "Hold" and an average target price of $122.42.

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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