Balboa Wealth Partners Purchases Shares of 1,994 Baidu, Inc. (NASDAQ:BIDU)

Balboa Wealth Partners purchased a new stake in Baidu, Inc. (NASDAQ:BIDU) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,994 shares of the information services provider’s stock, valued at approximately $237,000.

Other hedge funds have also recently bought and sold shares of the company. Bruce G. Allen Investments LLC bought a new position in Baidu in the fourth quarter valued at approximately $25,000. Headinvest LLC bought a new position in Baidu in the third quarter valued at approximately $36,000. FNY Investment Advisers LLC bought a new position in Baidu in the fourth quarter valued at approximately $42,000. Pacific Capital Wealth Advisors Inc. bought a new position in shares of Baidu during the 4th quarter worth approximately $48,000. Finally, Asset Management One Co. Ltd. boosted its stake in shares of Baidu by 33.9% during the 4th quarter. Asset Management One Co. Ltd. now owns 1,043 shares of the information services provider’s stock worth $123,000 after acquiring an additional 264 shares during the period.

Wall Street Analysts Forecast Growth

BIDU has been the subject of several research analyst reports. Mizuho reduced their target price on Baidu from $140.00 to $130.00 and set a “buy” rating for the company in a research note on Friday, May 10th. HSBC reduced their target price on Baidu from $157.00 to $145.00 and set a “buy” rating for the company in a research note on Wednesday, April 24th. Benchmark reiterated a “buy” rating and set a $180.00 target price on shares of Baidu in a research note on Friday, May 17th. Morgan Stanley downgraded Baidu from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $140.00 to $125.00 in a research note on Friday, May 17th. Finally, StockNews.com cut Baidu from a “buy” rating to a “hold” rating in a report on Saturday, March 23rd. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $162.00.

Baidu Price Performance

NASDAQ BIDU traded up $0.05 during midday trading on Thursday, hitting $102.46. The company had a trading volume of 1,603,378 shares, compared to its average volume of 3,445,895. The company has a market capitalization of $35.93 billion, a PE ratio of 13.71 and a beta of 0.68. The company has a current ratio of 2.79, a quick ratio of 3.01 and a debt-to-equity ratio of 0.25. The firm has a 50-day moving average price of $104.69 and a 200-day moving average price of $108.21. Baidu, Inc. has a twelve month low of $94.25 and a twelve month high of $156.98.

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.