Denver PWM LLC Buys New Position in Baidu, Inc. (NASDAQ:BIDU)

Denver PWM LLC purchased a new position in shares of Baidu, Inc. (NASDAQ:BIDU) during the second quarter, Holdings Channel.com reports. The fund purchased 771 shares of the information services provider’s stock, valued at approximately $67,000.

Other hedge funds have also made changes to their positions in the company. Crewe Advisors LLC purchased a new stake in Baidu during the 1st quarter worth about $31,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of Baidu during the first quarter worth approximately $32,000. Silicon Valley Capital Partners acquired a new stake in Baidu in the first quarter valued at approximately $53,000. Accent Capital Management LLC purchased a new position in Baidu in the fourth quarter worth approximately $66,000. Finally, iA Global Asset Management Inc. acquired a new position in Baidu during the 2nd quarter worth approximately $52,000.

Baidu Stock Up 0.5 %

BIDU stock opened at $82.81 on Friday. The company has a market cap of $29.04 billion, a price-to-earnings ratio of 11.09 and a beta of 0.48. The company has a fifty day moving average price of $88.00 and a 200 day moving average price of $97.00. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.32 and a quick ratio of 2.32. Baidu, Inc. has a 12 month low of $79.68 and a 12 month high of $144.63.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on BIDU shares. Benchmark reduced their price objective on shares of Baidu from $180.00 to $135.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Jefferies Financial Group cut their price target on Baidu from $174.00 to $139.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. StockNews.com cut Baidu from a “buy” rating to a “hold” rating in a research report on Tuesday, July 16th. Morgan Stanley lowered Baidu from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $140.00 to $125.00 in a research report on Friday, May 17th. Finally, Macquarie downgraded Baidu from a “strong-buy” rating to a “hold” rating in a report on Friday, May 17th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Baidu has a consensus rating of “Moderate Buy” and a consensus target price of $135.13.

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.