Spire Wealth Management Grows Stake in Baidu, Inc. (NASDAQ:BIDU)

Spire Wealth Management grew its holdings in Baidu, Inc. (NASDAQ:BIDU) by 433.7% in the 4th quarter, HoldingsChannel reports. The firm owned 6,202 shares of the information services provider’s stock after buying an additional 5,040 shares during the quarter. Spire Wealth Management’s holdings in Baidu were worth $739,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of BIDU. Kingsview Wealth Management LLC raised its holdings in Baidu by 6.3% in the third quarter. Kingsview Wealth Management LLC now owns 1,895 shares of the information services provider’s stock worth $255,000 after purchasing an additional 113 shares in the last quarter. Financial Counselors Inc. boosted its stake in Baidu by 8.9% in the third quarter. Financial Counselors Inc. now owns 1,714 shares of the information services provider’s stock valued at $230,000 after acquiring an additional 140 shares in the last quarter. Ignite Planners LLC grew its holdings in Baidu by 4.9% in the fourth quarter. Ignite Planners LLC now owns 3,652 shares of the information services provider’s stock worth $421,000 after purchasing an additional 171 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its position in shares of Baidu by 5.0% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 4,074 shares of the information services provider’s stock worth $547,000 after purchasing an additional 195 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Baidu by 14.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,560 shares of the information services provider’s stock valued at $186,000 after purchasing an additional 201 shares during the last quarter.

Analyst Ratings Changes

Several brokerages recently issued reports on BIDU. StockNews.com lowered Baidu from a “buy” rating to a “hold” rating in a research report on Saturday, March 23rd. Citigroup decreased their price objective on shares of Baidu from $181.00 to $176.00 and set a “buy” rating for the company in a research report on Tuesday, April 9th. Benchmark dropped their target price on shares of Baidu from $210.00 to $180.00 and set a “buy” rating on the stock in a research report on Monday. HSBC decreased their price target on shares of Baidu from $157.00 to $145.00 and set a “buy” rating for the company in a report on Wednesday, April 24th. Finally, Barclays dropped their price objective on shares of Baidu from $138.00 to $133.00 and set an “overweight” rating on the stock in a report on Thursday, February 29th. One analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, Baidu currently has a consensus rating of “Moderate Buy” and an average price target of $169.50.

Baidu Stock Performance

NASDAQ BIDU opened at $109.60 on Thursday. Baidu, Inc. has a fifty-two week low of $94.25 and a fifty-two week high of $156.98. The company has a debt-to-equity ratio of 0.23, a quick ratio of 3.01 and a current ratio of 3.01. The firm has a market capitalization of $38.43 billion, a P/E ratio of 14.20 and a beta of 0.68. The stock has a 50-day simple moving average of $103.03 and a two-hundred day simple moving average of $108.09.

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.