Assetmark Inc. Buys 192 Shares of Baidu, Inc. (NASDAQ:BIDU)

Assetmark Inc. lifted its holdings in Baidu, Inc. (NASDAQ:BIDU) by 143.3% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 326 shares of the information services provider’s stock after purchasing an additional 192 shares during the period. Assetmark Inc.’s holdings in Baidu were worth $30,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Cetera Investment Advisers lifted its holdings in Baidu by 26.3% during the first quarter. Cetera Investment Advisers now owns 30,029 shares of the information services provider’s stock valued at $2,764,000 after purchasing an additional 6,246 shares in the last quarter. Avantax Advisory Services Inc. raised its stake in Baidu by 11.3% during the 1st quarter. Avantax Advisory Services Inc. now owns 10,136 shares of the information services provider’s stock valued at $933,000 after purchasing an additional 1,031 shares during the period. Argonautica Private Wealth Management Inc. purchased a new position in shares of Baidu in the first quarter worth $430,000. Glaxis Capital Management LLC purchased a new stake in shares of Baidu in the first quarter worth about $460,000. Finally, Ignite Planners LLC grew its holdings in shares of Baidu by 12.3% in the first quarter. Ignite Planners LLC now owns 6,231 shares of the information services provider’s stock valued at $548,000 after purchasing an additional 682 shares in the last quarter.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. 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. Jefferies Financial Group dropped their target price 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. Barclays cut their target price on Baidu from $84.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Friday, July 18th. Macquarie restated a “neutral” rating on shares of Baidu in a research note on Wednesday, May 21st. Finally, Citigroup upped their target price on Baidu from $138.00 to $140.00 and gave the company a “buy” rating in a research report on Thursday, July 17th. Twelve analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Baidu presently has an average rating of “Hold” and an average price target of $105.09.

Baidu Trading Down 2.0%

Shares of BIDU stock opened at $85.86 on Wednesday. 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 stock has a 50 day simple moving average of $86.96 and a 200-day simple moving average of $88.38. The company has a market cap of $29.66 billion, a price-to-earnings ratio of 8.52 and a beta of 0.34. Baidu, Inc. has a 1-year low of $74.71 and a 1-year high of $116.25.

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.