Savvy Advisors Inc. Takes $232,000 Position in Baidu, Inc. (NASDAQ:BIDU)

Savvy Advisors Inc. acquired a new position in Baidu, Inc. (NASDAQ:BIDU) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,748 shares of the information services provider’s stock, valued at approximately $232,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Rialto Wealth Management LLC acquired a new stake in Baidu during the 4th quarter worth about $42,000. Sycomore Asset Management acquired a new stake in Baidu during the fourth quarter worth about $51,000. Denver PWM LLC raised its position in Baidu by 28.5% during the third quarter. Denver PWM LLC now owns 991 shares of the information services provider’s stock valued at $104,000 after acquiring an additional 220 shares in the last quarter. Quantinno Capital Management LP purchased a new position in Baidu during the third quarter valued at approximately $201,000. Finally, Retireful LLC acquired a new position in Baidu in the fourth quarter valued at approximately $205,000.

Baidu Stock Performance

NASDAQ:BIDU opened at $84.55 on Wednesday. The company has a market cap of $29.65 billion, a P/E ratio of 9.22, a P/E/G ratio of 2.96 and a beta of 0.33. Baidu, Inc. has a twelve month low of $74.71 and a twelve month high of $116.25. The company’s 50-day moving average price is $90.44 and its 200-day moving average price is $89.83. The company has a current ratio of 2.09, a quick ratio of 2.19 and a debt-to-equity ratio of 0.19.

Wall Street Analyst Weigh In

BIDU has been the subject of several recent research reports. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Baidu in a report on Saturday, March 8th. Barclays upped their price objective on shares of Baidu from $83.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 11th. Nomura Securities cut Baidu from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Mizuho increased their price target on Baidu from $95.00 to $105.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Finally, Daiwa Capital Markets restated an “outperform” rating on shares of Baidu in a research report on Tuesday, February 18th. Thirteen research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $111.25.

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.