Ethic Inc. Raises Stock Position in Baidu, Inc. $BIDU

Ethic Inc. boosted its position in shares of Baidu, Inc. (NASDAQ:BIDU) by 14.3% in the 1st quarter, Holdings Channel.com reports. The fund owned 8,983 shares of the information services provider’s stock after purchasing an additional 1,127 shares during the period. Ethic Inc.’s holdings in Baidu were worth $823,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Creekmur Asset Management LLC purchased a new position in Baidu during the first quarter valued at approximately $29,000. Assetmark Inc. grew its stake in Baidu by 143.3% during the first quarter. Assetmark Inc. now owns 326 shares of the information services provider’s stock valued at $30,000 after acquiring an additional 192 shares in the last quarter. UMB Bank n.a. grew its stake in Baidu by 80.3% during the first quarter. UMB Bank n.a. now owns 402 shares of the information services provider’s stock valued at $37,000 after acquiring an additional 179 shares in the last quarter. CX Institutional purchased a new position in Baidu during the first quarter valued at approximately $49,000. Finally, GeoWealth Management LLC grew its stake in Baidu by 88.5% during the fourth quarter. GeoWealth Management LLC now owns 656 shares of the information services provider’s stock valued at $55,000 after acquiring an additional 308 shares in the last quarter.

Baidu Stock Down 2.6%

Shares of Baidu stock opened at $86.76 on Thursday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.29 and a quick ratio of 2.29. The company has a 50-day moving average of $87.65 and a 200 day moving average of $88.44. The firm has a market cap of $29.97 billion, a price-to-earnings ratio of 8.61 and a beta of 0.34. Baidu, Inc. has a 1 year low of $74.71 and a 1 year high of $116.25.

Analyst Ratings Changes

BIDU has been the subject of a number of research reports. Macquarie reissued a “neutral” rating on shares of Baidu in a research note on Wednesday, May 21st. Citigroup boosted their price target on shares of Baidu from $138.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday, July 17th. Benchmark cut their price target on shares of Baidu from $130.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, May 22nd. Jefferies Financial Group cut their price objective on shares of Baidu from $120.00 to $110.00 and set a “buy” rating for the company in a research note on Wednesday, July 16th. Finally, Barclays dropped their price target on shares of Baidu from $84.00 to $81.00 and set an “equal weight” rating for the company in a research report on Friday, July 18th. Seven analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average 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.