Crewe Advisors LLC Invests $31,000 in Baidu, Inc. (NASDAQ:BIDU)

Crewe Advisors LLC acquired a new stake in shares of Baidu, Inc. (NASDAQ:BIDU) in the first quarter, HoldingsChannel.com reports. The firm acquired 290 shares of the information services provider’s stock, valued at approximately $31,000.

A number of other hedge funds also recently bought and sold shares of the company. Newbridge Financial Services Group Inc. purchased a new stake in Baidu in the first quarter worth about $32,000. Pacific Capital Wealth Advisors Inc. bought a new position in Baidu during the fourth quarter valued at approximately $48,000. Silicon Valley Capital Partners bought a new position in Baidu during the first quarter valued at approximately $53,000. Accent Capital Management LLC bought a new stake in shares of Baidu in the 4th quarter valued at approximately $66,000. Finally, Global Retirement Partners LLC lifted its stake in shares of Baidu by 356.1% in the 1st quarter. Global Retirement Partners LLC now owns 748 shares of the information services provider’s stock valued at $79,000 after purchasing an additional 584 shares during the last quarter.

Baidu Price Performance

Shares of BIDU stock traded down $0.96 during mid-day trading on Thursday, reaching $87.79. The stock had a trading volume of 2,180,307 shares, compared to its average volume of 3,549,217. Baidu, Inc. has a 12-month low of $85.08 and a 12-month high of $156.98. The company has a market cap of $30.78 billion, a P/E ratio of 11.75 and a beta of 0.49. The business has a 50-day simple moving average of $94.12 and a 200 day simple moving average of $101.46. The company has a current ratio of 2.79, a quick ratio of 2.79 and a debt-to-equity ratio of 0.25.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Bank of America reduced their price target on Baidu from $140.00 to $128.00 and set a “buy” rating on the stock in a report on Tuesday, July 16th. Mizuho dropped their target price on Baidu from $140.00 to $130.00 and set a “buy” rating on the stock in a research report on Friday, May 10th. Barclays dropped their target price on Baidu from $133.00 to $125.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 17th. Susquehanna dropped their target price on Baidu from $150.00 to $135.00 and set a “positive” rating on the stock in a research note on Friday, May 24th. Finally, Benchmark reissued a “buy” rating and issued a $180.00 price objective on shares of Baidu in a report on Friday, May 17th. Three equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $149.60.

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.