PNC Financial Services Group Inc. Sells 796 Shares of Baidu, Inc. (NASDAQ:BIDU)

PNC Financial Services Group Inc. lowered its stake in shares of Baidu, Inc. (NASDAQ:BIDU) by 14.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,807 shares of the information services provider’s stock after selling 796 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Baidu were worth $572,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Accent Capital Management LLC acquired a new position in shares of Baidu during the fourth quarter valued at about $66,000. Leo Wealth LLC acquired a new position in shares of Baidu during the fourth quarter valued at about $675,000. Fisher Asset Management LLC increased its holdings in shares of Baidu by 39.8% during the fourth quarter. Fisher Asset Management LLC now owns 11,013 shares of the information services provider’s stock valued at $1,312,000 after acquiring an additional 3,134 shares in the last quarter. Royal London Asset Management Ltd. increased its holdings in shares of Baidu by 197.8% during the fourth quarter. Royal London Asset Management Ltd. now owns 6,552 shares of the information services provider’s stock valued at $780,000 after acquiring an additional 4,352 shares in the last quarter. Finally, Beacon Financial Group increased its holdings in shares of Baidu by 7.2% during the fourth quarter. Beacon Financial Group now owns 1,894 shares of the information services provider’s stock valued at $226,000 after acquiring an additional 128 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on BIDU shares. Morgan Stanley lowered Baidu from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $140.00 to $125.00 in a research report on Friday, May 17th. Barclays dropped their target price on Baidu from $138.00 to $133.00 and set an “overweight” rating on the stock in a research report on Thursday, February 29th. Susquehanna dropped their target price on Baidu from $150.00 to $135.00 and set a “positive” rating on the stock in a research report on Friday, May 24th. Mizuho dropped their target price on Baidu from $140.00 to $130.00 and set a “buy” rating on the stock in a research report on Friday, May 10th. Finally, Macquarie lowered Baidu from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 17th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $156.64.

Baidu Trading Down 0.4 %

Shares of NASDAQ:BIDU opened at $88.22 on Thursday. Baidu, Inc. has a 1 year low of $87.82 and a 1 year high of $156.98. The firm has a market capitalization of $30.93 billion, a price-to-earnings ratio of 11.81 and a beta of 0.52. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.79 and a quick ratio of 2.79. The business’s 50 day moving average price is $100.38 and its 200-day moving average price is $105.02.

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.