Naviter Wealth LLC Acquires 1,962 Shares of Baidu, Inc. (NASDAQ:BIDU)

Naviter Wealth LLC lifted its holdings in Baidu, Inc. (NASDAQ:BIDU) by 44.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,367 shares of the information services provider’s stock after purchasing an additional 1,962 shares during the quarter. Naviter Wealth LLC’s holdings in Baidu were worth $670,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. LPL Financial LLC raised its position in Baidu by 4.2% during the third quarter. LPL Financial LLC now owns 44,523 shares of the information services provider’s stock worth $5,982,000 after acquiring an additional 1,807 shares in the last quarter. Mariner LLC raised its position in Baidu by 9.2% during the third quarter. Mariner LLC now owns 8,988 shares of the information services provider’s stock worth $1,208,000 after acquiring an additional 755 shares in the last quarter. Northern Trust Corp raised its position in Baidu by 1.2% during the third quarter. Northern Trust Corp now owns 179,688 shares of the information services provider’s stock worth $24,141,000 after acquiring an additional 2,202 shares in the last quarter. O Shaughnessy Asset Management LLC raised its position in Baidu by 13.3% during the third quarter. O Shaughnessy Asset Management LLC now owns 8,201 shares of the information services provider’s stock worth $1,102,000 after acquiring an additional 964 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its position in Baidu by 66,577.8% during the third quarter. Tower Research Capital LLC TRC now owns 6,001 shares of the information services provider’s stock worth $806,000 after acquiring an additional 5,992 shares in the last quarter.

Baidu Price Performance

Shares of Baidu stock traded up $0.66 during midday trading on Tuesday, hitting $86.87. 2,562,305 shares of the company traded hands, compared to its average volume of 3,325,798. The stock has a market cap of $30.46 billion, a price-to-earnings ratio of 11.63 and a beta of 0.49. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.79 and a current ratio of 2.79. The firm’s fifty day moving average price is $99.70 and its 200-day moving average price is $104.29. Baidu, Inc. has a 12 month low of $85.08 and a 12 month high of $156.98.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Mizuho dropped their price objective on shares of Baidu from $140.00 to $130.00 and set a “buy” rating on the stock in a research report on Friday, May 10th. Morgan Stanley lowered shares of Baidu from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $140.00 to $125.00 in a research report on Friday, May 17th. Macquarie cut shares of Baidu from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 17th. StockNews.com cut shares of Baidu from a “buy” rating to a “hold” rating in a research report on Friday, June 14th. Finally, Loop Capital dropped their target price on shares of Baidu from $155.00 to $130.00 and set a “buy” rating for the company in a research report on Friday, June 21st. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $156.64.

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.