Naviter Wealth LLC Has $525,000 Holdings in Baidu, Inc. (NASDAQ:BIDU)

Naviter Wealth LLC increased its stake in shares of Baidu, Inc. (NASDAQ:BIDU) by 12.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,405 shares of the information services provider’s stock after acquiring an additional 494 shares during the quarter. Naviter Wealth LLC’s holdings in Baidu were worth $525,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bruce G. Allen Investments LLC bought a new position in Baidu during the fourth quarter worth $25,000. Headinvest LLC bought a new position in shares of Baidu in the third quarter valued at $36,000. FNY Investment Advisers LLC bought a new position in shares of Baidu in the fourth quarter valued at $42,000. ING Groep NV lifted its stake in shares of Baidu by 103.2% in the third quarter. ING Groep NV now owns 443 shares of the information services provider’s stock valued at $60,000 after buying an additional 225 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Baidu in the third quarter valued at $73,000.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. HSBC dropped their price objective on shares of Baidu from $157.00 to $145.00 and set a “buy” rating on the stock in a research note on Wednesday, April 24th. Barclays dropped their price target on shares of Baidu from $138.00 to $133.00 and set an “overweight” rating on the stock in a research report on Thursday, February 29th. StockNews.com lowered shares of Baidu from a “buy” rating to a “hold” rating in a research report on Saturday, March 23rd. Finally, Citigroup dropped their price target on shares of Baidu from $181.00 to $176.00 and set a “buy” rating on the stock in a research report on Tuesday, April 9th. One analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $171.64.

Baidu Price Performance

BIDU opened at $103.40 on Wednesday. The company has a market capitalization of $36.26 billion, a price-to-earnings ratio of 13.39 and a beta of 0.68. The company has a quick ratio of 3.01, a current ratio of 3.01 and a debt-to-equity ratio of 0.23. The firm has a 50-day moving average price of $103.00 and a 200-day moving average price of $108.24. Baidu, Inc. has a twelve month low of $94.25 and a twelve month high of $156.98.

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.