6,226 Shares in Baidu, Inc. (NASDAQ:BIDU) Bought by Arkadios Wealth Advisors

Arkadios Wealth Advisors bought a new position in Baidu, Inc. (NASDAQ:BIDU) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 6,226 shares of the information services provider’s stock, valued at approximately $573,000.

Other institutional investors have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Baidu by 1,377.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,324,728 shares of the information services provider’s stock worth $490,035,000 after purchasing an additional 4,964,350 shares during the period. RPD Fund Management LLC bought a new position in shares of Baidu during the 4th quarter worth about $72,245,000. Massachusetts Financial Services Co. MA increased its holdings in shares of Baidu by 319.9% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 807,322 shares of the information services provider’s stock worth $74,298,000 after purchasing an additional 615,061 shares during the period. FIL Ltd increased 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 purchasing an additional 471,497 shares during the period. Finally, Cantor Fitzgerald L. P. increased 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 purchasing an additional 375,145 shares during the period.

Wall Street Analysts Forecast Growth

BIDU has been the topic of several research reports. Benchmark dropped their price objective on shares of Baidu from $130.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, May 22nd. Jefferies Financial Group dropped their price objective on shares of Baidu from $120.00 to $110.00 and set a “buy” rating on the stock in a report on Wednesday, July 16th. Citigroup lifted their target price on shares of Baidu from $138.00 to $140.00 and gave the company a “buy” rating in a research report on Thursday, July 17th. Macquarie reiterated a “neutral” rating on shares of Baidu in a research report on Wednesday, May 21st. Finally, Barclays decreased their target price on shares of Baidu from $84.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Friday, July 18th. Twelve investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Baidu presently has a consensus rating of “Hold” and an average price target of $105.09.

Baidu Price Performance

NASDAQ:BIDU opened at $87.64 on Tuesday. The firm has a market cap of $30.28 billion, a PE ratio of 8.69 and a beta of 0.34. Baidu, Inc. has a 12 month low of $74.71 and a 12 month high of $116.25. The company has a quick ratio of 2.29, a current ratio of 2.29 and a debt-to-equity ratio of 0.27. The company’s 50-day moving average price is $86.92 and its two-hundred day moving average price is $88.40.

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.