BNP Paribas Cuts Stake in Baidu, Inc. (NASDAQ:BIDU)

BNP Paribas lessened its holdings in shares of Baidu, Inc. (NASDAQ:BIDU) by 0.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 17,297 shares of the information services provider’s stock after selling 149 shares during the quarter. BNP Paribas’ holdings in Baidu were worth $1,821,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Primecap Management Co. CA grew its holdings in Baidu by 1.5% during the 3rd quarter. Primecap Management Co. CA now owns 12,123,856 shares of the information services provider’s stock valued at $1,276,521,000 after buying an additional 176,150 shares in the last quarter. Sanders Capital LLC boosted its position in shares of Baidu by 0.7% during the third quarter. Sanders Capital LLC now owns 2,605,728 shares of the information services provider’s stock worth $274,357,000 after acquiring an additional 18,334 shares during the last quarter. Federated Hermes Inc. grew its stake in Baidu by 3.7% during the second quarter. Federated Hermes Inc. now owns 1,884,556 shares of the information services provider’s stock valued at $162,976,000 after acquiring an additional 67,331 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Baidu by 1.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,344,309 shares of the information services provider’s stock valued at $116,263,000 after acquiring an additional 14,878 shares during the last quarter. Finally, International Assets Investment Management LLC increased its holdings in Baidu by 12,065.6% in the 3rd quarter. International Assets Investment Management LLC now owns 1,070,694 shares of the information services provider’s stock valued at $1,127,330,000 after acquiring an additional 1,061,893 shares during the last quarter.

Analyst Upgrades and Downgrades

BIDU has been the subject of several research reports. Hsbc Global Res downgraded shares of Baidu from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 24th. Benchmark dropped their price target on Baidu from $135.00 to $130.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Jefferies Financial Group reduced their price objective on Baidu from $174.00 to $139.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Bank of America lowered their target price on Baidu from $128.00 to $117.00 and set a “buy” rating for the company in a research report on Friday, August 23rd. Finally, Loop Capital cut their target price on shares of Baidu from $120.00 to $115.00 and set a “buy” rating for the company in a report on Monday, August 26th. Nine equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $114.92.

Baidu Trading Up 1.0 %

BIDU stock opened at $83.51 on Wednesday. The firm’s fifty day simple moving average is $93.63 and its two-hundred day simple moving average is $92.04. The stock has a market capitalization of $29.28 billion, a price-to-earnings ratio of 10.22, a price-to-earnings-growth ratio of 1.06 and a beta of 0.51. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 0.18. Baidu, Inc. has a twelve month low of $78.95 and a twelve month high of $126.23.

Baidu Company 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.