Baidu, Inc. (NASDAQ:BIDU) Holdings Reduced by Davis Selected Advisers

Davis Selected Advisers lowered its position in Baidu, Inc. (NASDAQ:BIDU) by 1.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 46,841 shares of the information services provider’s stock after selling 496 shares during the quarter. Davis Selected Advisers’ holdings in Baidu were worth $4,051,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Ping Capital Management Inc. acquired a new stake in Baidu in the 2nd quarter valued at approximately $216,000. Varma Mutual Pension Insurance Co increased its holdings in shares of Baidu by 22.1% during the second quarter. Varma Mutual Pension Insurance Co now owns 59,597 shares of the information services provider’s stock valued at $5,154,000 after purchasing an additional 10,800 shares during the period. Acadian Asset Management LLC bought a new stake in shares of Baidu during the second quarter valued at about $621,000. Weil Company Inc. acquired a new stake in Baidu in the second quarter worth about $314,000. Finally, Denver PWM LLC bought a new position in Baidu in the 2nd quarter valued at about $67,000.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Citigroup reduced their price target on shares of Baidu from $170.00 to $155.00 and set a “buy” rating for the company in a research note on Monday, July 15th. Loop Capital cut their target price on Baidu from $120.00 to $115.00 and set a “buy” rating for the company in a research report on Monday, August 26th. Sanford C. Bernstein lowered Baidu from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $130.00 to $97.00 in a research note on Friday, August 23rd. Bank of America dropped their price objective on Baidu from $128.00 to $117.00 and set a “buy” rating on the stock in a research note on Friday, August 23rd. Finally, Macquarie cut Baidu from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 17th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $135.13.

Baidu Trading Up 0.2 %

Shares of NASDAQ:BIDU traded up $0.19 during mid-day trading on Monday, hitting $81.20. The stock had a trading volume of 164,093 shares, compared to its average volume of 3,386,925. Baidu, Inc. has a 12-month low of $79.68 and a 12-month high of $140.93. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.32 and a current ratio of 2.32. The company has a market cap of $28.47 billion, a PE ratio of 10.84 and a beta of 0.48. The company’s 50 day moving average is $87.89 and its 200-day moving average is $96.68.

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.