Centerstone Investors LLC Sells 10,975 Shares of Baidu, Inc. $BIDU

Key Points

• Centerstone Investors LLC reduced its holdings in Baidu, Inc. by 76.2%, owning only 3,421 shares after selling 10,975 shares in the first quarter.
• Several institutional investors, including Banco Transatlantique SA and GMT Capital Corp, have taken new stakes or increased their holdings in Baidu, suggesting ongoing interest in the stock.
• Analysts have mixed opinions on Baidu's stock, with five analysts rating it a "Buy" and eleven giving it a "Hold," while the consensus price target stands at $104.00.

Centerstone Investors LLC reduced its stake in shares of Baidu, Inc. (NASDAQ:BIDU - Free Report) by 76.2% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,421 shares of the information services provider's stock after selling 10,975 shares during the period. Baidu accounts for 0.7% of Centerstone Investors LLC's investment portfolio, making the stock its 22nd biggest holding. Centerstone Investors LLC's holdings in Baidu were worth $315,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in BIDU. Northern Trust Corp grew its stake in shares of Baidu by 68.9% during the fourth quarter. Northern Trust Corp now owns 240,654 shares of the information services provider's stock valued at $20,290,000 after purchasing an additional 98,178 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Baidu during the fourth quarter worth $587,000. Ameriprise Financial Inc. grew its position in Baidu by 7.5% in the fourth quarter. Ameriprise Financial Inc. now owns 45,949 shares of the information services provider's stock valued at $3,874,000 after purchasing an additional 3,200 shares in the last quarter. BNP Paribas Financial Markets grew its position in shares of Baidu by 3.6% in the 4th quarter. BNP Paribas Financial Markets now owns 306,754 shares of the information services provider's stock valued at $25,862,000 after acquiring an additional 10,564 shares during the period. Finally, Bank of America Corp DE boosted its holdings in shares of Baidu by 14.1% during the 4th quarter. Bank of America Corp DE now owns 913,466 shares of the information services provider's stock worth $77,014,000 after buying an additional 112,680 shares during the period.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on BIDU shares. Susquehanna lifted their price objective on shares of Baidu from $85.00 to $95.00 and gave the stock a "neutral" rating in a research note on Tuesday, September 2nd. Jefferies Financial Group lowered their price objective on shares of Baidu from $120.00 to $110.00 and set a "buy" rating for the company in a research report on Wednesday, July 16th. Citigroup upped their price objective on shares of Baidu from $138.00 to $140.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. Wall Street Zen lowered Baidu from a "hold" rating to a "sell" rating in a research note on Friday, August 22nd. Finally, Benchmark cut their price target on Baidu from $120.00 to $115.00 and set a "buy" rating on the stock in a research note on Thursday, August 21st. Five analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $104.00.

Baidu Trading Down 0.2%

Shares of BIDU traded down $0.26 during mid-day trading on Tuesday, reaching $108.39. The company's stock had a trading volume of 3,706,782 shares, compared to its average volume of 4,516,016. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.19. The company's fifty day moving average price is $90.04 and its two-hundred day moving average price is $88.70. The stock has a market cap of $37.44 billion, a PE ratio of 9.99 and a beta of 0.34. Baidu, Inc. has a 52 week low of $74.71 and a 52 week high of $116.25.

Baidu 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.