Citigroup Inc. Reduces Position in Baidu, Inc. (NASDAQ:BIDU)

Citigroup Inc. lowered its position in Baidu, Inc. (NASDAQ:BIDU) by 21.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 261,931 shares of the information services provider’s stock after selling 70,688 shares during the quarter. Citigroup Inc. owned approximately 0.07% of Baidu worth $27,579,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Primecap Management Co. CA raised its stake in Baidu by 17.2% during the 2nd quarter. Primecap Management Co. CA now owns 11,947,706 shares of the information services provider’s stock valued at $1,033,238,000 after acquiring an additional 1,753,577 shares during the last quarter. International Assets Investment Management LLC raised its stake in shares of Baidu by 12,065.6% during the third quarter. International Assets Investment Management LLC now owns 1,070,694 shares of the information services provider’s stock worth $1,127,330,000 after purchasing an additional 1,061,893 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in shares of Baidu by 103.1% during the second quarter. DekaBank Deutsche Girozentrale now owns 582,475 shares of the information services provider’s stock worth $51,192,000 after purchasing an additional 295,700 shares during the period. XY Capital Ltd purchased a new position in Baidu in the 2nd quarter valued at $23,880,000. Finally, Shah Capital Management acquired a new position in Baidu in the 2nd quarter valued at $14,269,000.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. HSBC downgraded shares of Baidu from a “buy” rating to a “hold” rating and set a $100.00 target price on the stock. in a report on Tuesday, September 24th. Bank of America dropped their target price on Baidu from $128.00 to $117.00 and set a “buy” rating on the stock in a research report on Friday, August 23rd. Jefferies Financial Group reduced their price target on Baidu from $174.00 to $139.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Mizuho dropped their price objective on Baidu from $130.00 to $115.00 and set an “outperform” rating on the stock in a report on Tuesday, November 12th. Finally, StockNews.com downgraded Baidu from a “buy” rating to a “hold” rating in a report on Friday, October 25th. Ten analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $114.92.

Baidu Price Performance

Shares of NASDAQ BIDU opened at $82.67 on Tuesday. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 0.18. The company’s 50-day moving average price is $93.67 and its 200 day moving average price is $92.22. Baidu, Inc. has a 52 week low of $78.95 and a 52 week high of $126.23. The stock has a market cap of $28.99 billion, a price-to-earnings ratio of 10.12, a PEG ratio of 1.03 and a beta of 0.51.

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.