Frank Rimerman Advisors LLC Grows Holdings in Baidu, Inc. (NASDAQ:BIDU)

Frank Rimerman Advisors LLC increased its stake in shares of Baidu, Inc. (NASDAQ:BIDU) by 150.1% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 7,956 shares of the information services provider’s stock after purchasing an additional 4,775 shares during the period. Frank Rimerman Advisors LLC’s holdings in Baidu were worth $688,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in BIDU. Crewe Advisors LLC purchased a new stake in Baidu during the first quarter worth about $31,000. iA Global Asset Management Inc. acquired a new stake in Baidu during the 2nd quarter worth approximately $52,000. Silicon Valley Capital Partners purchased a new position in Baidu in the 1st quarter valued at approximately $53,000. Accent Capital Management LLC acquired a new position in shares of Baidu in the fourth quarter worth $66,000. Finally, Denver PWM LLC purchased a new stake in shares of Baidu during the second quarter worth $67,000.

Baidu Price Performance

BIDU stock opened at $88.28 on Tuesday. The business has a 50 day simple moving average of $86.18 and a 200-day simple moving average of $95.14. The company has a market capitalization of $30.96 billion, a P/E ratio of 11.82 and a beta of 0.48. Baidu, Inc. has a twelve month low of $79.68 and a twelve month high of $136.53. The company has a current ratio of 2.32, a quick ratio of 2.32 and a debt-to-equity ratio of 0.19.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Jefferies Financial Group lowered their target price on Baidu from $174.00 to $139.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Barclays cut their target price on shares of Baidu from $125.00 to $115.00 and set an “overweight” rating on the stock in a research note on Friday, August 23rd. Benchmark lowered their price target on shares of Baidu from $180.00 to $135.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Citigroup reduced their price objective on shares of Baidu from $170.00 to $155.00 and set a “buy” rating on the stock in a report on Monday, July 15th. Finally, Sanford C. Bernstein downgraded shares of Baidu from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $130.00 to $97.00 in a research note on Friday, August 23rd. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently 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.