National Bank of Canada FI Sells 7,256 Shares of Baidu, Inc. $BIDU

Key Points

• National Bank of Canada FI sold 7,256 shares of Baidu, Inc., reducing its holdings by 96.1% to just 296 shares, with a total value of $27,000.
• Several institutional investors, including Geode Capital Management and Cerity Partners LLC, increased their positions in Baidu during the fourth quarter, demonstrating mixed investor sentiment regarding the stock.
• Analysts have varied opinions on Baidu's stock, with price targets ranging from $81.00 to $140.00, and a consensus average rating of "Hold."

National Bank of Canada FI decreased its holdings in Baidu, Inc. (NASDAQ:BIDU - Free Report) by 96.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 296 shares of the information services provider's stock after selling 7,256 shares during the quarter. National Bank of Canada FI's holdings in Baidu were worth $27,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. International Assets Investment Management LLC increased its position in shares of Baidu by 0.7% in the first quarter. International Assets Investment Management LLC now owns 16,100 shares of the information services provider's stock worth $1,482,000 after acquiring an additional 114 shares in the last quarter. UMB Bank n.a. boosted its stake in Baidu by 80.3% in the 1st quarter. UMB Bank n.a. now owns 402 shares of the information services provider's stock worth $37,000 after purchasing an additional 179 shares during the period. Assetmark Inc. grew its position in Baidu by 143.3% during the 1st quarter. Assetmark Inc. now owns 326 shares of the information services provider's stock worth $30,000 after purchasing an additional 192 shares in the last quarter. Investors Research Corp raised its stake in Baidu by 20.5% during the 1st quarter. Investors Research Corp now owns 1,760 shares of the information services provider's stock valued at $162,000 after purchasing an additional 300 shares during the period. Finally, Harvest Fund Management Co. Ltd lifted its holdings in shares of Baidu by 21.4% in the first quarter. Harvest Fund Management Co. Ltd now owns 1,700 shares of the information services provider's stock valued at $156,000 after purchasing an additional 300 shares in the last quarter.

Baidu Stock Performance

BIDU traded up $2.40 during midday trading on Friday, reaching $90.01. The company's stock had a trading volume of 4,244,974 shares, compared to its average volume of 3,692,164. The stock has a market cap of $31.09 billion, a P/E ratio of 8.30 and a beta of 0.34. Baidu, Inc. has a twelve month low of $74.71 and a twelve month high of $116.25. The company has a fifty day simple moving average of $87.73 and a 200 day simple moving average of $88.42. The company has a current ratio of 1.85, a quick ratio of 2.29 and a debt-to-equity ratio of 0.19.

Analyst Ratings Changes

BIDU has been the topic of several recent analyst reports. Barclays dropped their price target on Baidu from $84.00 to $81.00 and set an "equal weight" rating on the stock in a research report on Friday, July 18th. Macquarie reiterated a "neutral" rating on shares of Baidu in a research report on Wednesday, May 21st. Citigroup boosted their price target on shares of Baidu from $138.00 to $140.00 and gave the company a "buy" rating in a report on Thursday, July 17th. Benchmark cut their price objective on Baidu from $120.00 to $115.00 and set a "buy" rating for the company in a report on Thursday. Finally, Jefferies Financial Group dropped their target price on Baidu from $120.00 to $110.00 and set a "buy" rating on the stock in a research report on Wednesday, July 16th. Seven equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat, Baidu presently has a consensus rating of "Hold" and an average target price of $104.64.

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.