Annandale Capital LLC Purchases 20,000 Shares of Baidu, Inc. (NASDAQ:BIDU)

Annandale Capital LLC grew its position in Baidu, Inc. (NASDAQ:BIDU) by 50.0% in the first quarter, Holdings Channel reports. The fund owned 60,032 shares of the information services provider’s stock after acquiring an additional 20,000 shares during the quarter. Baidu accounts for 0.3% of Annandale Capital LLC’s portfolio, making the stock its 24th largest holding. Annandale Capital LLC’s holdings in Baidu were worth $5,525,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. FNY Investment Advisers LLC bought a new position in shares of Baidu in the 1st quarter valued at $922,000. Janney Montgomery Scott LLC acquired a new stake in Baidu in the first quarter valued at $274,000. Ameriprise Financial Inc. increased its holdings in Baidu by 7.5% in the fourth quarter. Ameriprise Financial Inc. now owns 45,949 shares of the information services provider’s stock valued at $3,874,000 after purchasing an additional 3,200 shares during the period. Cantor Fitzgerald L. P. increased its holdings in Baidu by 1,510.9% in the fourth quarter. Cantor Fitzgerald L. P. now owns 399,975 shares of the information services provider’s stock valued at $33,722,000 after purchasing an additional 375,145 shares during the period. Finally, Nuveen Asset Management LLC increased its holdings in Baidu by 19.4% in the fourth quarter. Nuveen Asset Management LLC now owns 166,858 shares of the information services provider’s stock valued at $14,068,000 after purchasing an additional 27,057 shares during the period.

Baidu Stock Performance

Shares of Baidu stock opened at $85.99 on Tuesday. The company has a current ratio of 2.29, a quick ratio of 2.29 and a debt-to-equity ratio of 0.27. The business has a 50-day moving average price of $87.26 and a two-hundred day moving average price of $88.50. Baidu, Inc. has a 1-year low of $74.71 and a 1-year high of $116.25. The company has a market cap of $29.71 billion, a P/E ratio of 8.53 and a beta of 0.34.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Jefferies Financial Group decreased their price objective on Baidu from $120.00 to $110.00 and set a “buy” rating for the company in a report on Wednesday, July 16th. Barclays decreased their price objective on Baidu from $84.00 to $81.00 and set an “equal weight” rating for the company in a report on Friday, July 18th. Benchmark decreased their price objective on Baidu from $130.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, May 22nd. Macquarie restated a “neutral” rating on shares of Baidu in a report on Wednesday, May 21st. Finally, Citigroup increased their price objective on Baidu from $138.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, July 17th. Twelve equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Baidu presently has an average rating of “Hold” and a consensus target price of $105.09.

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.