Pitcairn Co. Makes New $535,000 Investment in Baidu, Inc. (NASDAQ:BIDU)

Pitcairn Co. bought a new position in Baidu, Inc. (NASDAQ:BIDU) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 5,079 shares of the information services provider’s stock, valued at approximately $535,000.

Other hedge funds have also bought and sold shares of the company. Newbridge Financial Services Group Inc. purchased a new position in Baidu in the 1st quarter worth about $32,000. Pacific Capital Wealth Advisors Inc. purchased a new stake in shares of Baidu during the 4th quarter valued at about $48,000. Silicon Valley Capital Partners purchased a new stake in shares of Baidu during the 1st quarter valued at about $53,000. Accent Capital Management LLC purchased a new stake in shares of Baidu during the 4th quarter valued at about $66,000. Finally, Global Retirement Partners LLC increased its position in shares of Baidu by 356.1% during the 1st quarter. Global Retirement Partners LLC now owns 748 shares of the information services provider’s stock valued at $79,000 after purchasing an additional 584 shares during the last quarter.

Baidu Trading Down 1.1 %

BIDU stock opened at $87.79 on Friday. Baidu, Inc. has a 1-year low of $85.08 and a 1-year high of $156.98. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.79 and a quick ratio of 2.79. The company has a market capitalization of $30.78 billion, a price-to-earnings ratio of 11.75 and a beta of 0.49. The business has a 50 day simple moving average of $94.12 and a two-hundred day simple moving average of $101.46.

Wall Street Analysts Forecast Growth

BIDU has been the subject of several research reports. Benchmark reaffirmed a “buy” rating and set a $180.00 price target on shares of Baidu in a research report on Friday, May 17th. Morgan Stanley lowered shares of Baidu from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $140.00 to $125.00 in a research report on Friday, May 17th. Citigroup reduced their price target on shares of Baidu from $170.00 to $155.00 and set a “buy” rating for the company in a research report on Monday, July 15th. Jefferies Financial Group reduced their target price on shares of Baidu from $179.00 to $174.00 and set a “buy” rating for the company in a report on Monday, July 15th. Finally, Barclays reduced their target price on shares of Baidu from $133.00 to $125.00 and set an “overweight” rating for the company in a report on Wednesday, July 17th. Three research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $149.60.

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.