Waterfront Wealth Inc. Purchases 2,265 Shares of Baidu, Inc. (NASDAQ:BIDU)

Waterfront Wealth Inc. raised its stake in Baidu, Inc. (NASDAQ:BIDU) by 23.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,841 shares of the information services provider’s stock after acquiring an additional 2,265 shares during the quarter. Waterfront Wealth Inc.’s holdings in Baidu were worth $1,410,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Rakuten Securities Inc. bought a new position in Baidu in the 4th quarter valued at about $258,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Baidu by 14.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,560 shares of the information services provider’s stock worth $186,000 after purchasing an additional 201 shares during the period. Mackenzie Financial Corp increased its holdings in shares of Baidu by 49.8% during the fourth quarter. Mackenzie Financial Corp now owns 3,844 shares of the information services provider’s stock worth $458,000 after purchasing an additional 1,278 shares during the period. Sequoia Financial Advisors LLC increased its holdings in shares of Baidu by 68.2% during the fourth quarter. Sequoia Financial Advisors LLC now owns 6,672 shares of the information services provider’s stock worth $795,000 after purchasing an additional 2,705 shares during the period. Finally, International Assets Investment Management LLC bought a new position in shares of Baidu during the fourth quarter worth approximately $12,225,000.

Baidu Price Performance

Shares of NASDAQ BIDU traded down $1.71 during midday trading on Wednesday, reaching $94.41. 2,849,001 shares of the company were exchanged, compared to its average volume of 3,393,713. The stock’s 50-day moving average price is $104.15 and its 200-day moving average price is $110.38. The stock has a market cap of $33.10 billion, a P/E ratio of 12.23 and a beta of 0.68. Baidu, Inc. has a one year low of $94.25 and a one year high of $156.98. The company has a quick ratio of 3.01, a current ratio of 3.01 and a debt-to-equity ratio of 0.23.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. StockNews.com cut shares of Baidu from a “buy” rating to a “hold” rating in a report on Saturday, March 23rd. Citigroup lowered their target price on shares of Baidu from $181.00 to $176.00 and set a “buy” rating on the stock in a report on Tuesday, April 9th. Finally, Barclays reduced their price target on shares of Baidu from $138.00 to $133.00 and set an “overweight” rating on the stock in a research report on Thursday, February 29th. One investment analyst has rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $173.73.

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.