Balboa Wealth Partners Sells 730 Shares of Baidu, Inc. (NASDAQ:BIDU)

Balboa Wealth Partners decreased its position in Baidu, Inc. (NASDAQ:BIDU) by 22.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 2,594 shares of the information services provider’s stock after selling 730 shares during the quarter. Balboa Wealth Partners’ holdings in Baidu were worth $273,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Primecap Management Co. CA lifted its position in shares of Baidu by 17.2% in the second quarter. Primecap Management Co. CA now owns 11,947,706 shares of the information services provider’s stock worth $1,033,238,000 after purchasing an additional 1,753,577 shares in the last quarter. Federated Hermes Inc. lifted its position in Baidu by 3.7% during the 2nd quarter. Federated Hermes Inc. now owns 1,884,556 shares of the information services provider’s stock worth $162,976,000 after buying an additional 67,331 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Baidu by 1.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,344,309 shares of the information services provider’s stock worth $116,263,000 after buying an additional 14,878 shares during the last quarter. International Assets Investment Management LLC grew its holdings in shares of 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 in the last quarter. Finally, Canada Pension Plan Investment Board increased its position in shares of Baidu by 49.7% in the first quarter. Canada Pension Plan Investment Board now owns 1,018,685 shares of the information services provider’s stock valued at $107,247,000 after acquiring an additional 338,110 shares during the last quarter.

Wall Street Analysts Forecast Growth

BIDU has been the subject of several recent research reports. HSBC cut Baidu from a “buy” rating to a “hold” rating and set a $100.00 price target for the company. in a research report on Tuesday, September 24th. Bank of America decreased their target price on shares of Baidu from $128.00 to $117.00 and set a “buy” rating for the company in a research note on Friday, August 23rd. Benchmark dropped their price target on shares of Baidu from $180.00 to $135.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Dbs Bank downgraded shares of Baidu from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 3rd. Finally, Hsbc Global Res cut shares of Baidu from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 24th. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $127.29.

Baidu Price Performance

Baidu stock opened at $84.58 on Friday. The company has a market capitalization of $29.66 billion, a price-to-earnings ratio of 11.14 and a beta of 0.51. The company has a current ratio of 2.32, a quick ratio of 2.32 and a debt-to-equity ratio of 0.19. Baidu, Inc. has a 12 month low of $79.68 and a 12 month high of $126.23. The stock’s 50 day moving average is $93.53 and its 200-day moving average is $93.69.

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.