Waterfront Wealth Inc. Boosts Holdings in Baidu, Inc. (NASDAQ:BIDU)

Waterfront Wealth Inc. increased its stake in shares of Baidu, Inc. (NASDAQ:BIDU) by 3.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,845 shares of the information services provider’s stock after acquiring an additional 552 shares during the quarter. Waterfront Wealth Inc.’s holdings in Baidu were worth $1,457,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Commonwealth Equity Services LLC lifted its stake in Baidu by 5.9% in the second quarter. Commonwealth Equity Services LLC now owns 23,787 shares of the information services provider’s stock valued at $2,057,000 after buying an additional 1,330 shares during the last quarter. International Assets Investment Management LLC raised its position in Baidu by 34.8% in the 2nd quarter. International Assets Investment Management LLC now owns 8,801 shares of the information services provider’s stock valued at $761,000 after purchasing an additional 2,271 shares during the last quarter. iA Global Asset Management Inc. acquired a new stake in Baidu during the 2nd quarter worth $52,000. Eos Management L.P. acquired a new stake in Baidu during the 2nd quarter worth $1,179,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Baidu by 38.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,476 shares of the information services provider’s stock worth $387,000 after purchasing an additional 1,238 shares during the last quarter.

Baidu Price Performance

BIDU traded up $0.80 during midday trading on Friday, reaching $84.62. 1,898,121 shares of the company’s stock were exchanged, compared to its average volume of 2,945,123. The business’s 50-day moving average price is $88.38 and its 200 day moving average price is $97.59. The stock has a market capitalization of $29.67 billion, a PE ratio of 11.33 and a beta of 0.49. Baidu, Inc. has a 1-year low of $79.68 and a 1-year high of $151.00. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.32 and a quick ratio of 2.32.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on BIDU shares. StockNews.com downgraded shares of Baidu from a “buy” rating to a “hold” rating in a research note on Tuesday, July 16th. Barclays lowered their target price on Baidu from $125.00 to $115.00 and set an “overweight” rating on the stock in a research note on Friday, August 23rd. Jefferies Financial Group cut their price target on Baidu from $174.00 to $139.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Citigroup lowered their price objective on shares of Baidu from $170.00 to $155.00 and set a “buy” rating on the stock in a research report on Monday, July 15th. Finally, Susquehanna cut their price objective on shares of Baidu from $150.00 to $135.00 and set a “positive” rating for the company in a research report on Friday, May 24th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $137.13.

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.