Baidu, Inc. (NASDAQ:BIDU) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. cut its holdings in Baidu, Inc. (NASDAQ:BIDU) by 11.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,690,259 shares of the information services provider’s stock after selling 226,703 shares during the period. Federated Hermes Inc. owned 0.48% of Baidu worth $142,506,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in BIDU. FMR LLC raised its position in Baidu by 67.2% in the third quarter. FMR LLC now owns 11,781 shares of the information services provider’s stock valued at $1,240,000 after purchasing an additional 4,734 shares during the period. Integrated Wealth Concepts LLC lifted its stake in Baidu by 33.7% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 7,104 shares of the information services provider’s stock worth $748,000 after acquiring an additional 1,792 shares in the last quarter. Quantinno Capital Management LP purchased a new position in Baidu during the 3rd quarter valued at about $201,000. Stifel Financial Corp grew its position in Baidu by 82.5% in the 3rd quarter. Stifel Financial Corp now owns 75,546 shares of the information services provider’s stock valued at $7,954,000 after acquiring an additional 34,145 shares in the last quarter. Finally, Wellington Management Group LLP purchased a new stake in Baidu during the third quarter worth about $2,511,000.

Baidu Stock Down 8.2 %

Shares of NASDAQ BIDU opened at $82.43 on Friday. The business has a 50-day moving average price of $92.19 and a 200 day moving average price of $90.58. The stock has a market cap of $28.90 billion, a PE ratio of 8.99, a price-to-earnings-growth ratio of 2.96 and a beta of 0.33. The company has a quick ratio of 2.19, a current ratio of 2.09 and a debt-to-equity ratio of 0.19. Baidu, Inc. has a 52-week low of $77.20 and a 52-week high of $116.25.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on BIDU shares. Daiwa Capital Markets reiterated an “outperform” rating on shares of Baidu in a report on Tuesday, February 18th. StockNews.com lowered shares of Baidu from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Mizuho lifted their price target on shares of Baidu from $95.00 to $105.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Nomura Securities downgraded shares of Baidu from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Finally, Barclays lifted their price objective on shares of Baidu from $83.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 11th. Thirteen equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $111.25.

About Baidu

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.