Meritage Portfolio Management Takes Position in Baidu, Inc. $BIDU

Meritage Portfolio Management purchased a new stake in shares of Baidu, Inc. (NASDAQ:BIDU) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 152,533 shares of the information services provider’s stock, valued at approximately $13,081,000. Baidu comprises about 0.8% of Meritage Portfolio Management’s portfolio, making the stock its 25th biggest holding.

A number of other institutional investors have also recently made changes to their positions in BIDU. Creekmur Asset Management LLC purchased a new stake in shares of Baidu during the 1st quarter valued at about $29,000. Assetmark Inc. boosted its holdings in shares of 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 acquiring an additional 192 shares during the last quarter. UMB Bank n.a. boosted its holdings in shares of Baidu by 80.3% during the 1st 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 during the last quarter. CX Institutional purchased a new stake in shares of Baidu during the 1st quarter valued at about $49,000. Finally, Parallel Advisors LLC boosted its holdings in shares of Baidu by 17.0% during the 2nd quarter. Parallel Advisors LLC now owns 935 shares of the information services provider’s stock valued at $80,000 after acquiring an additional 136 shares during the last quarter.

Baidu Price Performance

Shares of NASDAQ:BIDU opened at $121.69 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.85 and a quick ratio of 1.85. Baidu, Inc. has a 1-year low of $74.71 and a 1-year high of $149.51. The company has a market capitalization of $42.04 billion, a P/E ratio of 11.22 and a beta of 0.42. The firm’s 50 day simple moving average is $109.86 and its two-hundred day simple moving average is $94.85.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Susquehanna raised their price target on shares of Baidu from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Tuesday, September 2nd. Wall Street Zen raised shares of Baidu from a “sell” rating to a “hold” rating in a report on Saturday. Arete raised shares of Baidu from a “sell” rating to a “buy” rating and set a $143.00 price objective on the stock in a report on Tuesday, September 16th. Citigroup raised their price objective on shares of Baidu from $138.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, July 17th. Finally, Nomura raised their price objective on shares of Baidu from $91.00 to $135.00 and gave the stock a “neutral” rating in a report on Monday, September 22nd. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $126.54.

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.