Kercheville Advisors LLC Buys New Shares in Baidu, Inc. (NASDAQ:BIDU)

Kercheville Advisors LLC purchased a new position in shares of Baidu, Inc. (NASDAQ:BIDU) in the first quarter, HoldingsChannel reports. The institutional investor purchased 15,050 shares of the information services provider’s stock, valued at approximately $1,385,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BIDU. UMB Bank n.a. increased its holdings in shares of Baidu by 80.3% during the first quarter. UMB Bank n.a. now owns 402 shares of the information services provider’s stock worth $37,000 after buying an additional 179 shares in the last quarter. Intellectus Partners LLC increased its holdings in shares of Baidu by 1.4% in the fourth quarter. Intellectus Partners LLC now owns 16,773 shares of the information services provider’s stock valued at $1,414,000 after purchasing an additional 235 shares in the last quarter. US Bancorp DE increased its holdings in shares of Baidu by 7.2% in the fourth quarter. US Bancorp DE now owns 4,036 shares of the information services provider’s stock valued at $340,000 after purchasing an additional 270 shares in the last quarter. Investors Research Corp increased its holdings in shares of Baidu by 20.5% in the first quarter. Investors Research Corp now owns 1,760 shares of the information services provider’s stock valued at $162,000 after purchasing an additional 300 shares in the last quarter. Finally, GeoWealth Management LLC boosted its stake in Baidu by 88.5% in the fourth quarter. GeoWealth Management LLC now owns 656 shares of the information services provider’s stock valued at $55,000 after acquiring an additional 308 shares during the last quarter.

Baidu Stock Performance

Shares of Baidu stock opened at $87.25 on Tuesday. The company has a 50 day moving average of $86.29 and a 200-day moving average of $87.86. Baidu, Inc. has a 1-year low of $74.71 and a 1-year high of $116.25. The company has a current ratio of 2.09, a quick ratio of 2.19 and a debt-to-equity ratio of 0.19. The company has a market cap of $30.14 billion, a PE ratio of 9.51, a price-to-earnings-growth ratio of 2.96 and a beta of 0.33.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on BIDU. Daiwa Capital Markets reaffirmed an “outperform” rating on shares of Baidu in a research note on Tuesday, February 18th. Nomura cut shares of Baidu from a “buy” rating to a “neutral” rating in a research report on Wednesday, February 19th. Benchmark cut their price objective on shares of Baidu from $130.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, May 22nd. Citigroup cut their price objective on shares of Baidu from $139.00 to $138.00 and set a “buy” rating on the stock in a research report on Thursday, May 22nd. Finally, Barclays set a $84.00 price objective on shares of Baidu and gave the company an “equal weight” rating in a research report on Thursday, May 22nd. Twelve research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $107.82.

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.