Wealthedge Investment Advisors LLC Takes Position in Baidu, Inc. (NASDAQ:BIDU)

Wealthedge Investment Advisors LLC acquired a new stake in shares of Baidu, Inc. (NASDAQ:BIDU - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 3,993 shares of the information services provider's stock, valued at approximately $337,000.

Several other hedge funds have also added to or reduced their stakes in the stock. Intellectus Partners LLC boosted its holdings in Baidu by 1.4% in the fourth quarter. Intellectus Partners LLC now owns 16,773 shares of the information services provider's stock worth $1,414,000 after acquiring an additional 235 shares in the last quarter. US Bancorp DE boosted its stake in shares of Baidu by 7.2% in the fourth quarter. US Bancorp DE now owns 4,036 shares of the information services provider's stock worth $340,000 after acquiring an additional 270 shares during the period. GeoWealth Management LLC boosted its stake in shares of Baidu by 88.5% in the fourth quarter. GeoWealth Management LLC now owns 656 shares of the information services provider's stock worth $55,000 after acquiring an additional 308 shares during the period. SRN Advisors LLC boosted its stake in Baidu by 3.1% during the fourth quarter. SRN Advisors LLC now owns 15,800 shares of the information services provider's stock valued at $1,332,000 after buying an additional 468 shares during the last quarter. Finally, Rialto Wealth Management LLC bought a new position in Baidu during the fourth quarter valued at approximately $42,000.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on BIDU shares. Barclays set a $84.00 price target on Baidu and gave the company an "equal weight" rating in a research note on Thursday, May 22nd. Macquarie reaffirmed a "neutral" rating on shares of Baidu in a research note on Wednesday, May 21st. Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Baidu in a research note on Saturday, March 8th. Nomura Securities lowered Baidu from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, February 19th. Finally, Daiwa Capital Markets reaffirmed an "outperform" rating on shares of Baidu in a research note on Tuesday, February 18th. Twelve investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $107.82.

Baidu Trading Down 3.1%

BIDU traded down $2.58 during trading on Friday, hitting $81.81. 4,345,417 shares of the stock were exchanged, compared to its average volume of 4,153,747. The firm has a 50 day simple moving average of $86.74 and a 200 day simple moving average of $87.66. The firm has a market cap of $28.26 billion, a price-to-earnings ratio of 8.92, a P/E/G ratio of 2.96 and a beta of 0.37. Baidu, Inc. has a 1 year low of $74.71 and a 1 year high of $116.25. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.19 and a current ratio of 2.09.

About Baidu

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.