Centerstone Investors LLC Has $573,000 Stock Holdings in Baidu, Inc. (NASDAQ:BIDU)

Centerstone Investors LLC trimmed its position in Baidu, Inc. (NASDAQ:BIDU - Free Report) by 52.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,792 shares of the information services provider's stock after selling 7,604 shares during the quarter. Baidu accounts for 0.8% of Centerstone Investors LLC's portfolio, making the stock its 25th largest position. Centerstone Investors LLC's holdings in Baidu were worth $573,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Rialto Wealth Management LLC acquired a new position in shares of Baidu in the 4th quarter valued at $42,000. Sycomore Asset Management bought a new stake in Baidu in the fourth quarter valued at about $51,000. GeoWealth Management LLC raised its position in Baidu by 88.5% in the fourth quarter. GeoWealth Management LLC now owns 656 shares of the information services provider's stock worth $55,000 after purchasing an additional 308 shares in the last quarter. Savvy Advisors Inc. bought a new position in Baidu during the fourth quarter worth about $232,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new position in Baidu during the fourth quarter worth about $256,000.

Baidu Price Performance

Shares of BIDU stock traded up $0.29 during trading hours on Wednesday, reaching $84.21. 1,543,102 shares of the company were exchanged, compared to its average volume of 4,132,904. Baidu, Inc. has a fifty-two week low of $74.71 and a fifty-two week high of $116.25. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.09 and a quick ratio of 2.19. The stock's fifty day moving average is $87.46 and its two-hundred day moving average is $87.73. The company has a market cap of $29.09 billion, a price-to-earnings ratio of 9.19, a P/E/G ratio of 2.96 and a beta of 0.37.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on BIDU shares. Nomura cut Baidu from a "buy" rating to a "neutral" rating in a report on Wednesday, February 19th. Daiwa Capital Markets reiterated an "outperform" rating on shares of Baidu in a research note on Tuesday, February 18th. Mizuho boosted their target price on shares of Baidu from $95.00 to $105.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. Benchmark lowered their target price on shares of Baidu from $130.00 to $120.00 and set a "buy" rating on the stock in a report on Thursday, May 22nd. Finally, Sanford C. Bernstein reissued a "market perform" rating on shares of Baidu in a report on Saturday, March 8th. Twelve equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $107.82.

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.