Ridgewood Investments LLC Boosts Stock Holdings in Baidu, Inc. (NASDAQ:BIDU)

Ridgewood Investments LLC lifted its stake in Baidu, Inc. (NASDAQ:BIDU) by 67.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,093 shares of the information services provider’s stock after buying an additional 4,076 shares during the period. Ridgewood Investments LLC’s holdings in Baidu were worth $896,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of BIDU. Creekmur Asset Management LLC purchased a new stake in shares of Baidu during the first quarter valued at approximately $29,000. Assetmark Inc. boosted its position in Baidu by 143.3% during the 1st quarter. Assetmark Inc. now owns 326 shares of the information services provider’s stock valued at $30,000 after buying an additional 192 shares during the period. UMB Bank n.a. grew its holdings in Baidu by 80.3% in the 1st quarter. UMB Bank n.a. now owns 402 shares of the information services provider’s stock worth $37,000 after acquiring an additional 179 shares during the last quarter. CX Institutional purchased a new position in shares of Baidu in the first quarter valued at about $49,000. Finally, GeoWealth Management LLC increased its position in shares of Baidu by 88.5% in 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 during the period.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Benchmark cut their target price on Baidu from $130.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, May 22nd. Macquarie reiterated a “neutral” rating on shares of Baidu in a report on Wednesday, May 21st. Citigroup boosted their target price on Baidu from $138.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, July 17th. Jefferies Financial Group dropped their price target on 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 cut their price target on shares of Baidu from $84.00 to $81.00 and set an “equal weight” rating on the stock in a report on Friday, July 18th. Twelve analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $105.09.

Baidu Trading Down 0.2%

Shares of NASDAQ BIDU opened at $90.80 on Friday. Baidu, Inc. has a 1 year low of $74.71 and a 1 year high of $116.25. 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 firm has a 50-day moving average of $86.76 and a 200 day moving average of $88.05. The stock has a market cap of $31.37 billion, a P/E ratio of 9.01 and a beta of 0.33.

Baidu 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.