Baidu, Inc. (NASDAQ:BIDU) Holdings Cut by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC reduced its stake in shares of Baidu, Inc. (NASDAQ:BIDU) by 8.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,145 shares of the information services provider’s stock after selling 2,129 shares during the period. Commonwealth Equity Services LLC’s holdings in Baidu were worth $1,867,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of BIDU. Appaloosa LP grew its stake in Baidu by 7.2% in the fourth quarter. Appaloosa LP now owns 1,527,909 shares of the information services provider’s stock valued at $128,818,000 after purchasing an additional 102,909 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Baidu in the 4th quarter valued at approximately $615,000. Avantax Advisory Services Inc. increased its holdings in Baidu by 60.0% in the fourth quarter. Avantax Advisory Services Inc. now owns 9,105 shares of the information services provider’s stock worth $768,000 after buying an additional 3,415 shares during the last quarter. Eos Management L.P. raised its position in Baidu by 25.9% during the fourth quarter. Eos Management L.P. now owns 19,837 shares of the information services provider’s stock valued at $1,672,000 after acquiring an additional 4,077 shares in the last quarter. Finally, Rialto Wealth Management LLC bought a new position in Baidu during the fourth quarter valued at approximately $42,000.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Daiwa Capital Markets restated an “outperform” rating on shares of Baidu in a research note on Tuesday, February 18th. Sanford C. Bernstein reissued a “market perform” rating on shares of Baidu in a research report on Saturday, March 8th. Barclays upped their price objective on shares of Baidu from $83.00 to $95.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 11th. Citigroup dropped their target price on shares of Baidu from $142.00 to $141.00 and set a “buy” rating on the stock in a report on Friday, November 29th. Finally, Nomura lowered shares of Baidu from a “buy” rating to a “neutral” rating in a research report 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’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $111.25.

Baidu Trading Down 5.1 %

Shares of BIDU stock opened at $93.37 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.19 and a current ratio of 2.09. The firm has a fifty day moving average of $91.61 and a 200-day moving average of $90.33. Baidu, Inc. has a 52-week low of $77.20 and a 52-week high of $116.25. The stock has a market cap of $32.74 billion, a price-to-earnings ratio of 10.18, a P/E/G ratio of 2.96 and a beta of 0.47.

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.