Earnest Partners LLC Sells 1,739 Shares of Baidu, Inc. (NASDAQ:BIDU)

Earnest Partners LLC reduced its stake in shares of Baidu, Inc. (NASDAQ:BIDU) by 0.3% during the 1st quarter, Holdings Channel.com reports. The firm owned 682,679 shares of the information services provider’s stock after selling 1,739 shares during the quarter. Earnest Partners LLC’s holdings in Baidu were worth $71,872,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Crossmark Global Holdings Inc. increased its position in Baidu by 0.3% in the fourth quarter. Crossmark Global Holdings Inc. now owns 29,375 shares of the information services provider’s stock worth $3,498,000 after purchasing an additional 99 shares during the period. Kingsview Wealth Management LLC grew its position in shares of Baidu by 5.8% during the 4th quarter. Kingsview Wealth Management LLC now owns 2,005 shares of the information services provider’s stock worth $239,000 after buying an additional 110 shares during the period. Beacon Financial Group raised its stake in shares of Baidu by 7.2% during the fourth quarter. Beacon Financial Group now owns 1,894 shares of the information services provider’s stock worth $226,000 after buying an additional 128 shares during the last quarter. Ignite Planners LLC lifted its holdings in Baidu by 3.8% in the first quarter. Ignite Planners LLC now owns 3,791 shares of the information services provider’s stock valued at $411,000 after buying an additional 139 shares during the period. Finally, Advisors Asset Management Inc. lifted its holdings in Baidu by 8.2% in the first quarter. Advisors Asset Management Inc. now owns 2,583 shares of the information services provider’s stock valued at $272,000 after buying an additional 196 shares during the period.

Wall Street Analyst Weigh In

A number of analysts have commented on BIDU shares. Macquarie lowered shares of Baidu from a “strong-buy” rating to a “hold” rating in a report on Friday, May 17th. Citigroup decreased their price objective on Baidu from $170.00 to $155.00 and set a “buy” rating for the company in a research note on Monday, July 15th. Susquehanna cut their target price on Baidu from $150.00 to $135.00 and set a “positive” rating on the stock in a research note on Friday, May 24th. Loop Capital decreased their target price on Baidu from $155.00 to $130.00 and set a “buy” rating for the company in a research report on Friday, June 21st. Finally, Barclays cut their price target on shares of Baidu from $133.00 to $125.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 17th. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $149.60.

Baidu Stock Up 1.7 %

BIDU traded up $1.52 during trading on Monday, reaching $90.50. The company had a trading volume of 2,876,740 shares, compared to its average volume of 3,531,844. The company has a market cap of $31.73 billion, a P/E ratio of 11.91 and a beta of 0.49. Baidu, Inc. has a 12 month low of $85.08 and a 12 month high of $156.98. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.79 and a quick ratio of 2.79. The business’s fifty day moving average price is $93.69 and its 200 day moving average price is $101.05.

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.