B. Riley Wealth Advisors Inc. Takes $606,000 Position in Baidu, Inc. (NASDAQ:BIDU)

B. Riley Wealth Advisors Inc. acquired a new stake in Baidu, Inc. (NASDAQ:BIDU) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 7,006 shares of the information services provider’s stock, valued at approximately $606,000.

Other institutional investors also recently made changes to their positions in the company. Crewe Advisors LLC purchased a new stake in Baidu during the 1st quarter valued at $31,000. Silicon Valley Capital Partners purchased a new stake in Baidu during the 1st quarter valued at $53,000. Accent Capital Management LLC purchased a new stake in Baidu during the 4th quarter valued at $66,000. iA Global Asset Management Inc. purchased a new stake in Baidu during the 2nd quarter valued at $52,000. Finally, Denver PWM LLC purchased a new stake in Baidu during the 2nd quarter valued at $67,000.

Baidu Stock Up 1.1 %

BIDU opened at $110.46 on Friday. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 0.19. The firm has a 50 day moving average price of $88.84 and a 200-day moving average price of $95.29. Baidu, Inc. has a twelve month low of $79.68 and a twelve month high of $135.85. The stock has a market capitalization of $38.73 billion, a price-to-earnings ratio of 14.79 and a beta of 0.49.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Bank of America dropped their price target on shares of Baidu from $128.00 to $117.00 and set a “buy” rating for the company in a research report on Friday, August 23rd. Jefferies Financial Group dropped their target price on shares of Baidu from $174.00 to $139.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Hsbc Global Res cut shares of Baidu from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Susquehanna dropped their target price on shares of Baidu from $135.00 to $105.00 and set a “positive” rating for the company in a research report on Thursday, September 5th. Finally, Citigroup dropped their target price on shares of Baidu from $170.00 to $155.00 and set a “buy” rating for the company in a research report on Monday, July 15th. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $132.13.

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.