Earnest Partners LLC Boosts Stake in Baidu, Inc. $BIDU

Earnest Partners LLC lifted its position in shares of Baidu, Inc. (NASDAQ:BIDU) by 2.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 672,741 shares of the information services provider’s stock after acquiring an additional 16,159 shares during the quarter. Earnest Partners LLC’s holdings in Baidu were worth $61,912,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of BIDU. Creekmur Asset Management LLC purchased a new stake in shares of Baidu during the 1st quarter worth about $29,000. Assetmark Inc. boosted its stake in shares of Baidu by 143.3% during the 1st quarter. Assetmark Inc. now owns 326 shares of the information services provider’s stock worth $30,000 after acquiring an additional 192 shares in the last quarter. UMB Bank n.a. boosted its stake 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 worth $37,000 after acquiring an additional 179 shares in the last quarter. CX Institutional purchased a new stake in shares of Baidu during the 1st quarter worth about $49,000. Finally, Silver Oak Securities Incorporated purchased a new stake in shares of Baidu during the 1st quarter worth about $97,000.

Baidu Stock Performance

NASDAQ:BIDU opened at $89.86 on Thursday. The company’s 50-day moving average price is $88.06 and its 200-day moving average price is $88.47. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.19. The company has a market cap of $31.04 billion, a P/E ratio of 8.28 and a beta of 0.34. Baidu, Inc. has a twelve month low of $74.71 and a twelve month high of $116.25.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on BIDU shares. Barclays cut their target price on shares of Baidu from $84.00 to $81.00 and set an “equal weight” rating for the company in a research note on Friday, July 18th. Citigroup boosted their target price on shares of Baidu from $138.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday, July 17th. Wall Street Zen cut shares of Baidu from a “hold” rating to a “sell” rating in a research note on Friday, August 22nd. Jefferies Financial Group cut their target price on shares of Baidu from $120.00 to $110.00 and set a “buy” rating for the company in a research note on Wednesday, July 16th. Finally, Benchmark cut their target price on shares of Baidu from $120.00 to $115.00 and set a “buy” rating for the company in a research note on Thursday, August 21st. Five investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $102.75.

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.