Rialto Wealth Management LLC Makes New Investment in Baidu, Inc. (NASDAQ:BIDU)

Rialto Wealth Management LLC bought a new stake in Baidu, Inc. (NASDAQ:BIDU) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 500 shares of the information services provider’s stock, valued at approximately $42,000.

Other institutional investors also recently made changes to their positions in the company. Sycomore Asset Management acquired a new position in Baidu during the 4th quarter valued at approximately $51,000. World Investment Advisors LLC acquired a new position in shares of Baidu during the third quarter valued at $72,000. Transamerica Financial Advisors Inc. bought a new position in shares of Baidu during the third quarter worth about $82,000. Denver PWM LLC increased its holdings in shares of Baidu by 28.5% in the 3rd quarter. Denver PWM LLC now owns 991 shares of the information services provider’s stock worth $104,000 after acquiring an additional 220 shares during the period. Finally, Banco Santander S.A. bought a new stake in Baidu in the 3rd quarter valued at about $201,000.

Baidu Trading Up 1.5 %

Shares of NASDAQ:BIDU opened at $94.80 on Monday. Baidu, Inc. has a 1 year low of $77.20 and a 1 year high of $116.25. The firm has a fifty day moving average price of $87.38 and a 200 day moving average price of $89.14. 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 stock has a market capitalization of $33.24 billion, a PE ratio of 10.34, a P/E/G ratio of 2.96 and a beta of 0.47.

Analysts Set New Price Targets

Several research analysts have commented on BIDU shares. JPMorgan Chase & Co. cut shares of Baidu from an “overweight” rating to a “neutral” rating in a research report on Wednesday, November 27th. Barclays increased their price objective on Baidu from $83.00 to $95.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 11th. Citigroup cut their target price on Baidu from $142.00 to $141.00 and set a “buy” rating on the stock in a research note on Friday, November 29th. Daiwa Capital Markets reissued an “outperform” rating on shares of Baidu in a research note on Tuesday, February 18th. Finally, Nomura cut shares of Baidu from a “buy” rating to a “neutral” rating in a research note on Wednesday, February 19th. Thirteen research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target 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.