Crewe Advisors LLC Acquires Shares of 290 Baidu, Inc. (NASDAQ:BIDU)

Crewe Advisors LLC acquired a new stake in Baidu, Inc. (NASDAQ:BIDU) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 290 shares of the information services provider’s stock, valued at approximately $31,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. acquired a new stake in shares of Baidu during the 1st quarter worth $32,000. Pacific Capital Wealth Advisors Inc. bought a new position in Baidu in the fourth quarter valued at about $48,000. Silicon Valley Capital Partners bought a new position in Baidu in the first quarter valued at about $53,000. Accent Capital Management LLC bought a new position in Baidu in the fourth quarter valued at about $66,000. Finally, Global Retirement Partners LLC raised its position in Baidu by 356.1% in the first 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 NASDAQ:BIDU traded down $0.96 during trading on Thursday, reaching $87.79. 2,180,307 shares of the company’s stock traded hands, compared to its average volume of 3,549,217. Baidu, Inc. has a fifty-two week low of $85.08 and a fifty-two week high of $156.98. The company has a quick ratio of 2.79, a current ratio of 2.79 and a debt-to-equity ratio of 0.25. The firm has a market cap of $30.78 billion, a PE ratio of 11.75 and a beta of 0.49. The company has a 50-day simple moving average of $94.12 and a 200-day simple moving average of $101.46.

Analyst Ratings Changes

BIDU has been the subject of several research reports. Jefferies Financial Group dropped their target price on Baidu from $179.00 to $174.00 and set a “buy” rating for the company in a research report on Monday, July 15th. Bank of America reduced their price objective on Baidu from $140.00 to $128.00 and set a “buy” rating for the company in a research note on Tuesday, July 16th. Susquehanna reduced their price objective on Baidu from $150.00 to $135.00 and set a “positive” rating for the company in a research note on Friday, May 24th. Loop Capital cut their target price on Baidu from $155.00 to $130.00 and set a “buy” rating on the stock in a research report on Friday, June 21st. Finally, Mizuho dropped their price target on Baidu from $140.00 to $130.00 and set a “buy” rating on the stock in a report on Friday, May 10th. Three analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average 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.