International Assets Investment Management LLC Lowers Position in Baidu, Inc. (NASDAQ:BIDU)

International Assets Investment Management LLC decreased its position in shares of Baidu, Inc. (NASDAQ:BIDU) by 98.5% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 15,986 shares of the information services provider’s stock after selling 1,054,708 shares during the period. International Assets Investment Management LLC’s holdings in Baidu were worth $1,322,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in BIDU. Allspring Global Investments Holdings LLC boosted its stake in Baidu by 630.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 687 shares of the information services provider’s stock worth $72,000 after acquiring an additional 593 shares in the last quarter. World Investment Advisors LLC purchased a new position in shares of Baidu during the third quarter valued at approximately $72,000. Grove Bank & Trust boosted its position in shares of Baidu by 21.6% in the 3rd quarter. Grove Bank & Trust now owns 731 shares of the information services provider’s stock worth $77,000 after purchasing an additional 130 shares in the last quarter. Transamerica Financial Advisors Inc. purchased a new stake in shares of Baidu in the 3rd quarter worth approximately $82,000. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Baidu by 102.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,098 shares of the information services provider’s stock worth $97,000 after buying an additional 555 shares during the last quarter.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Barclays downgraded Baidu from an “overweight” rating to an “equal weight” rating in a report on Friday, November 22nd. HSBC cut shares of Baidu from a “buy” rating to a “hold” rating and set a $100.00 price target on the stock. in a research note on Tuesday, September 24th. Benchmark reduced their price objective on shares of Baidu from $135.00 to $130.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. JPMorgan Chase & Co. downgraded shares of Baidu from an “overweight” rating to a “neutral” rating in a research note on Wednesday, November 27th. Finally, China Renaissance downgraded shares of Baidu from a “buy” rating to a “hold” rating and set a $86.00 price target for the company. in a research report on Monday, November 25th. Ten investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $113.75.

Baidu Stock Performance

Shares of BIDU opened at $81.34 on Thursday. The firm has a market capitalization of $28.52 billion, a P/E ratio of 9.96, a PEG ratio of 1.19 and a beta of 0.46. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.19 and a quick ratio of 2.19. Baidu, Inc. has a one year low of $78.95 and a one year high of $117.64. The business has a fifty day moving average of $86.61 and a 200 day moving average of $89.38.

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.