Baidu, Inc. (NASDAQ:BIDU) Position Increased by Cetera Investment Advisers

Cetera Investment Advisers raised its holdings in shares of Baidu, Inc. (NASDAQ:BIDU) by 26.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 30,029 shares of the information services provider’s stock after purchasing an additional 6,246 shares during the period. Cetera Investment Advisers’ holdings in Baidu were worth $2,764,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. FNY Investment Advisers LLC bought a new position in shares of Baidu during the first quarter worth about $922,000. Janney Montgomery Scott LLC bought a new position in shares of Baidu during the first quarter worth about $274,000. Ameriprise Financial Inc. grew its position in shares of Baidu by 7.5% during the fourth quarter. Ameriprise Financial Inc. now owns 45,949 shares of the information services provider’s stock worth $3,874,000 after acquiring an additional 3,200 shares during the last quarter. Cantor Fitzgerald L. P. grew its position in shares of Baidu by 1,510.9% during the fourth quarter. Cantor Fitzgerald L. P. now owns 399,975 shares of the information services provider’s stock worth $33,722,000 after acquiring an additional 375,145 shares during the last quarter. Finally, Nuveen Asset Management LLC grew its position in shares of Baidu by 19.4% during the fourth quarter. Nuveen Asset Management LLC now owns 166,858 shares of the information services provider’s stock worth $14,068,000 after acquiring an additional 27,057 shares during the last quarter.

Baidu Price Performance

Shares of NASDAQ BIDU opened at $86.81 on Thursday. Baidu, Inc. has a twelve month low of $74.71 and a twelve month high of $116.25. 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 company has a market capitalization of $29.99 billion, a price-to-earnings ratio of 8.61 and a beta of 0.34. The firm has a 50-day moving average of $86.96 and a two-hundred day moving average of $88.38.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Jefferies Financial Group lowered their price target on shares of Baidu from $120.00 to $110.00 and set a “buy” rating for the company in a research report on Wednesday, July 16th. Macquarie reiterated a “neutral” rating on shares of Baidu in a research report 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 report on Thursday, July 17th. Benchmark reduced 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. Finally, Barclays lowered their price objective on shares of Baidu from $84.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Friday, July 18th. Twelve equities research 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, the stock currently has an average rating of “Hold” and an average price target of $105.09.

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.