Exchange Traded Concepts LLC decreased its stake in Baidu, Inc. (NASDAQ:BIDU - Free Report) by 44.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 62,315 shares of the information services provider's stock after selling 48,871 shares during the quarter. Exchange Traded Concepts LLC's holdings in Baidu were worth $5,735,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of BIDU. Dodge & Cox boosted its stake in Baidu by 0.4% during the fourth quarter. Dodge & Cox now owns 5,916,215 shares of the information services provider's stock worth $498,796,000 after buying an additional 22,000 shares during the last quarter. Pictet Asset Management Holding SA raised its holdings in shares of Baidu by 9.4% during the 4th quarter. Pictet Asset Management Holding SA now owns 2,410,307 shares of the information services provider's stock worth $203,213,000 after acquiring an additional 207,966 shares during the period. Appaloosa LP boosted its position in shares of Baidu by 7.2% during the 4th quarter. Appaloosa LP now owns 1,527,909 shares of the information services provider's stock valued at $128,818,000 after acquiring an additional 102,909 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Baidu by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,350,315 shares of the information services provider's stock valued at $113,845,000 after purchasing an additional 4,236 shares during the period. Finally, CoreView Capital Management Ltd increased its position in Baidu by 2.0% during the fourth quarter. CoreView Capital Management Ltd now owns 1,262,003 shares of the information services provider's stock worth $106,399,000 after purchasing an additional 25,220 shares during the last quarter.
Baidu Stock Up 1.5%
Shares of BIDU traded up $1.25 during midday trading on Monday, hitting $87.25. The company had a trading volume of 2,207,235 shares, compared to its average volume of 4,126,138. Baidu, Inc. has a 1 year low of $74.71 and a 1 year high of $116.25. The firm has a market capitalization of $30.14 billion, a P/E ratio of 9.51, a P/E/G ratio of 2.96 and a beta of 0.33. 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 company's 50-day simple moving average is $86.08 and its 200-day simple moving average is $87.85.
Analyst Ratings Changes
Several analysts have recently weighed in on the stock. Wall Street Zen cut shares of Baidu from a "buy" rating to a "hold" rating in a research note on Wednesday, February 19th. Nomura Securities cut Baidu from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, February 19th. Benchmark decreased their price target on Baidu from $130.00 to $120.00 and set a "buy" rating on the stock in a research note on Thursday, May 22nd. Sanford C. Bernstein reissued a "market perform" rating on shares of Baidu in a research report on Saturday, March 8th. Finally, Citigroup dropped their price target on shares of Baidu from $139.00 to $138.00 and set a "buy" rating for the company in a research report on Thursday, May 22nd. Twelve investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $107.82.
Check Out Our Latest Research Report on BIDU
About Baidu
(
Free Report)
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.
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