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

Frank Rimerman Advisors LLC lifted its holdings in Baidu, Inc. (NASDAQ:BIDU) by 150.1% during the second quarter, Holdings Channel reports. The institutional investor owned 7,956 shares of the information services provider’s stock after purchasing an additional 4,775 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Baidu were worth $688,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BIDU. Columbus Hill Capital Management L.P. acquired a new position in Baidu during the second quarter worth about $1,276,000. Pacer Advisors Inc. acquired a new stake in shares of Baidu in the 2nd quarter worth approximately $1,796,000. DCF Advisers LLC increased its stake in Baidu by 48.1% in the 2nd quarter. DCF Advisers LLC now owns 30,000 shares of the information services provider’s stock valued at $2,594,000 after purchasing an additional 9,750 shares in the last quarter. Shah Capital Management acquired a new position in Baidu during the second quarter worth $14,269,000. Finally, Virtu Financial LLC purchased a new stake in Baidu during the second quarter worth $2,591,000.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on BIDU shares. StockNews.com downgraded Baidu from a “buy” rating to a “hold” rating in a research note on Tuesday, July 16th. Jefferies Financial Group reduced their price target on shares of Baidu from $174.00 to $139.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Sanford C. Bernstein cut shares of Baidu from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $130.00 to $97.00 in a research note on Friday, August 23rd. Benchmark lowered their target price on Baidu from $180.00 to $135.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Finally, Bank of America cut their price target on Baidu from $128.00 to $117.00 and set a “buy” rating for the company in a report on Friday, August 23rd. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Baidu presently has an average rating of “Moderate Buy” and a consensus price target of $135.13.

Baidu Trading Up 2.4 %

NASDAQ BIDU opened at $88.28 on Tuesday. Baidu, Inc. has a 12 month low of $79.68 and a 12 month high of $136.53. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.32 and a quick ratio of 2.32. The company has a 50-day moving average of $86.18 and a 200-day moving average of $95.14. The company has a market cap of $30.96 billion, a P/E ratio of 11.82 and a beta of 0.48.

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.