Fisher Asset Management LLC Trims Position in Baidu, Inc. (NASDAQ:BIDU)

Fisher Asset Management LLC reduced its position in Baidu, Inc. (NASDAQ:BIDU) by 32.4% in the 3rd quarter, Holdings Channel reports. The fund owned 12,866 shares of the information services provider’s stock after selling 6,179 shares during the period. Fisher Asset Management LLC’s holdings in Baidu were worth $1,355,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. iA Global Asset Management Inc. purchased a new stake in shares of Baidu in the second quarter valued at $52,000. Allspring Global Investments Holdings LLC grew its holdings in Baidu by 630.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 687 shares of the information services provider’s stock valued at $72,000 after buying an additional 593 shares during the period. Grove Bank & Trust increased its stake in shares of Baidu by 21.6% during the 3rd quarter. Grove Bank & Trust now owns 731 shares of the information services provider’s stock valued at $77,000 after acquiring an additional 130 shares during the last quarter. Denver PWM LLC purchased a new position in shares of Baidu during the 2nd quarter worth about $67,000. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Baidu by 102.2% in the second quarter. EverSource Wealth Advisors LLC now owns 1,098 shares of the information services provider’s stock worth $97,000 after acquiring an additional 555 shares during the last quarter.

Analysts Set New Price Targets

BIDU has been the subject of several research analyst reports. Mizuho dropped their price target on shares of Baidu from $130.00 to $115.00 and set an “outperform” rating for the company in a research report on Tuesday, November 12th. Dbs Bank lowered Baidu from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 3rd. Sanford C. Bernstein downgraded Baidu from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $130.00 to $97.00 in a research report on Friday, August 23rd. Bank of America cut their price objective on Baidu from $128.00 to $117.00 and set a “buy” rating on the stock in a report on Friday, August 23rd. Finally, Benchmark reduced their price objective on Baidu from $135.00 to $130.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. Ten analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $113.75.

Baidu Trading Up 0.3 %

BIDU opened at $85.05 on Friday. The firm has a market capitalization of $29.82 billion, a P/E ratio of 10.41, a P/E/G ratio of 1.11 and a beta of 0.51. The firm’s 50 day moving average is $93.57 and its 200-day moving average is $91.75. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 0.18. Baidu, Inc. has a 52-week low of $78.95 and a 52-week high of $120.25.

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.