Geode Capital Management LLC Cuts Stake in Baidu, Inc. (NASDAQ:BIDU)

Geode Capital Management LLC reduced its holdings in shares of Baidu, Inc. (NASDAQ:BIDU) by 0.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 119,608 shares of the information services provider’s stock after selling 170 shares during the period. Geode Capital Management LLC’s holdings in Baidu were worth $12,594,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in BIDU. iA Global Asset Management Inc. purchased a new stake in Baidu during the 2nd quarter worth approximately $52,000. Denver PWM LLC purchased a new stake in Baidu during the 2nd quarter worth approximately $67,000. Allspring Global Investments Holdings LLC increased its stake in Baidu by 630.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 687 shares of the information services provider’s stock worth $72,000 after buying an additional 593 shares during the period. Grove Bank & Trust increased its position in shares of Baidu by 21.6% in the 3rd quarter. Grove Bank & Trust now owns 731 shares of the information services provider’s stock valued at $77,000 after purchasing an additional 130 shares during the last quarter. Finally, Transamerica Financial Advisors Inc. purchased a new stake in shares of Baidu in the 3rd quarter valued at approximately $82,000.

Wall Street Analysts Forecast Growth

BIDU has been the topic of a number of recent analyst reports. Citigroup dropped their price objective on shares of Baidu from $142.00 to $141.00 and set a “buy” rating on the stock in a research report on Friday, November 29th. China Renaissance downgraded shares of Baidu from a “buy” rating to a “hold” rating and set a $86.00 price objective on the stock. in a research report on Monday, November 25th. HSBC downgraded shares of Baidu from a “buy” rating to a “hold” rating and set a $100.00 price objective on the stock. in a research report on Tuesday, September 24th. Benchmark dropped their price objective on shares of Baidu from $135.00 to $130.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. Finally, JPMorgan Chase & Co. downgraded shares of Baidu from an “overweight” rating to a “neutral” rating in a research report on Wednesday, November 27th. Ten equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Baidu has an average rating of “Hold” and a consensus price target of $113.75.

Baidu Stock Down 2.9 %

BIDU stock opened at $84.05 on Tuesday. The company has a fifty day moving average of $87.76 and a 200-day moving average of $89.73. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.19 and a current ratio of 2.19. The stock has a market capitalization of $29.47 billion, a PE ratio of 10.29, a price-to-earnings-growth ratio of 1.19 and a beta of 0.46. Baidu, Inc. has a one year low of $78.95 and a one year high of $119.75.

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.