Integrated Wealth Concepts LLC Grows Stock Holdings in Baidu, Inc. $BIDU

Integrated Wealth Concepts LLC grew its holdings in shares of Baidu, Inc. (NASDAQ:BIDU) by 28.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,787 shares of the information services provider’s stock after buying an additional 1,705 shares during the period. Integrated Wealth Concepts LLC’s holdings in Baidu were worth $717,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. lifted its stake in Baidu by 1,377.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,324,728 shares of the information services provider’s stock worth $490,035,000 after purchasing an additional 4,964,350 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Baidu by 0.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,361,973 shares of the information services provider’s stock worth $125,338,000 after buying an additional 11,658 shares during the last quarter. CoreView Capital Management Ltd lifted its position in shares of Baidu by 2.0% during the 4th quarter. CoreView Capital Management Ltd now owns 1,262,003 shares of the information services provider’s stock worth $106,399,000 after buying an additional 25,220 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Baidu by 2.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,037,626 shares of the information services provider’s stock worth $95,494,000 after buying an additional 25,834 shares during the last quarter. Finally, RPD Fund Management LLC purchased a new stake in shares of Baidu during the 4th quarter worth approximately $72,245,000.

Baidu Stock Performance

Shares of BIDU stock opened at $114.78 on Friday. The stock has a 50 day simple moving average of $91.99 and a 200-day simple moving average of $89.31. The company has a market cap of $39.65 billion, a price-to-earnings ratio of 10.58 and a beta of 0.34. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.19. Baidu, Inc. has a 12-month low of $74.71 and a 12-month high of $116.91.

Wall Street Analyst Weigh In

BIDU has been the subject of a number of research reports. Wall Street Zen cut shares of Baidu from a “hold” rating to a “sell” rating in a research report on Friday, August 22nd. Citigroup boosted their target price on Baidu from $138.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, July 17th. Susquehanna boosted their price objective on Baidu from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Tuesday, September 2nd. Macquarie reiterated a “neutral” rating on shares of Baidu in a research note on Wednesday, May 21st. Finally, Benchmark reduced their price target on shares of Baidu from $120.00 to $115.00 and set a “buy” rating for the company in a research report on Thursday, August 21st. Five investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat, Baidu presently has an average rating of “Hold” and an average target price of $104.00.

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.