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

Naviter Wealth LLC lifted its stake in shares of Baidu, Inc. (NASDAQ:BIDU) by 44.5% in the first quarter, HoldingsChannel reports. The fund owned 6,367 shares of the information services provider’s stock after acquiring an additional 1,962 shares during the period. Naviter Wealth LLC’s holdings in Baidu were worth $670,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. ANTIPODES PARTNERS Ltd grew its stake in shares of Baidu by 8.8% during the 4th quarter. ANTIPODES PARTNERS Ltd now owns 1,438,716 shares of the information services provider’s stock valued at $171,336,000 after acquiring an additional 116,047 shares during the period. RWC Asset Advisors US LLC boosted its stake in Baidu by 5.3% in the 4th quarter. RWC Asset Advisors US LLC now owns 1,164,713 shares of the information services provider’s stock worth $138,706,000 after purchasing an additional 58,686 shares during the period. ARGA Investment Management LP boosted its stake in Baidu by 6.5% in the 1st quarter. ARGA Investment Management LP now owns 1,022,883 shares of the information services provider’s stock worth $107,689,000 after purchasing an additional 62,830 shares during the period. National Bank of Canada FI boosted its stake in Baidu by 90,390.0% in the 4th quarter. National Bank of Canada FI now owns 901,280 shares of the information services provider’s stock worth $103,953,000 after purchasing an additional 900,284 shares during the period. Finally, Sanders Capital LLC boosted its stake in Baidu by 7.1% in the 4th quarter. Sanders Capital LLC now owns 670,604 shares of the information services provider’s stock worth $79,862,000 after purchasing an additional 44,571 shares during the period.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on BIDU shares. Loop Capital dropped their price target on Baidu from $155.00 to $130.00 and set a “buy” rating for the company in a research note on Friday, June 21st. Susquehanna dropped their price target on Baidu from $150.00 to $135.00 and set a “positive” rating for the company in a research note on Friday, May 24th. HSBC dropped their price target on Baidu from $157.00 to $145.00 and set a “buy” rating for the company in a research note on Wednesday, April 24th. Benchmark restated a “buy” rating and issued a $180.00 price target on shares of Baidu in a research note on Friday, May 17th. Finally, Macquarie cut Baidu from a “strong-buy” rating to a “hold” rating in a report on Friday, May 17th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $156.64.

Baidu Trading Up 0.8 %

NASDAQ:BIDU 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 firm’s fifty day moving average is $99.70 and its 200-day moving average is $104.29. Baidu, Inc. has a 12-month low of $85.08 and a 12-month high of $156.98. The firm has a market capitalization of $30.46 billion, a P/E ratio of 11.63 and a beta of 0.49. The company has a current ratio of 2.79, a quick ratio of 2.79 and a debt-to-equity ratio of 0.25.

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.