Avaii Wealth Management LLC Invests $312,000 in Baidu, Inc. (NASDAQ:BIDU)

Avaii Wealth Management LLC acquired a new position in shares of Baidu, Inc. (NASDAQ:BIDU) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 3,394 shares of the information services provider’s stock, valued at approximately $312,000.

Several other hedge funds have also modified their holdings of BIDU. RPD Fund Management LLC purchased a new stake in shares of Baidu during the 4th quarter worth approximately $72,245,000. FIL Ltd raised its holdings in shares of Baidu by 367.1% during the 4th quarter. FIL Ltd now owns 599,918 shares of the information services provider’s stock worth $50,579,000 after acquiring an additional 471,497 shares in the last quarter. Cantor Fitzgerald L. P. raised its holdings in shares of Baidu by 1,510.9% during the 4th quarter. Cantor Fitzgerald L. P. now owns 399,975 shares of the information services provider’s stock worth $33,722,000 after acquiring an additional 375,145 shares in the last quarter. Polunin Capital Partners Ltd purchased a new stake in shares of Baidu during the 1st quarter worth approximately $31,748,000. Finally, Contrarius Group Holdings Ltd purchased a new stake in shares of Baidu during the 4th quarter worth approximately $27,328,000.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on BIDU shares. Barclays set a $84.00 price objective on Baidu and gave the stock an “equal weight” rating in a report on Thursday, May 22nd. Nomura downgraded Baidu from a “buy” rating to a “neutral” rating in a research report on Wednesday, February 19th. Benchmark cut their target price on Baidu from $130.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, May 22nd. Mizuho boosted their target price on Baidu from $95.00 to $105.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Finally, Daiwa Capital Markets reissued an “outperform” rating on shares of Baidu in a research report on Tuesday, February 18th. Twelve equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $107.82.

Baidu Stock Performance

BIDU stock opened at $86.00 on Friday. The company has a quick ratio of 2.19, a current ratio of 2.09 and a debt-to-equity ratio of 0.19. The business’s fifty day simple moving average is $86.08 and its two-hundred day simple moving average is $87.80. Baidu, Inc. has a twelve month low of $74.71 and a twelve month high of $116.25. The firm has a market cap of $29.71 billion, a price-to-earnings ratio of 9.38, a PEG ratio of 2.96 and a beta of 0.33.

Baidu Company 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.