Johnson Investment Counsel Inc. Trims Position in Baidu, Inc. (NASDAQ:BIDU)

Johnson Investment Counsel Inc. reduced its holdings in Baidu, Inc. (NASDAQ:BIDU) by 13.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,824 shares of the information services provider’s stock after selling 611 shares during the period. Johnson Investment Counsel Inc.’s holdings in Baidu were worth $322,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in BIDU. Rialto Wealth Management LLC acquired a new position in Baidu in the fourth quarter valued at approximately $42,000. Intellectus Partners LLC increased its holdings in shares of Baidu by 1.4% during the 4th quarter. Intellectus Partners LLC now owns 16,773 shares of the information services provider’s stock valued at $1,414,000 after purchasing an additional 235 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Baidu by 18.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,528 shares of the information services provider’s stock valued at $466,000 after purchasing an additional 845 shares during the period. Generali Investments CEE investicni spolecnost a.s. purchased a new stake in Baidu during the fourth quarter worth $961,000. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Baidu during the fourth quarter valued at $256,000.

Analyst Ratings Changes

A number of brokerages have weighed in on BIDU. Barclays upped 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. Mizuho increased their price target on Baidu from $95.00 to $105.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Susquehanna cut Baidu from a “positive” rating to a “neutral” rating and cut their price objective for the company from $105.00 to $85.00 in a research report on Monday, November 25th. StockNews.com downgraded Baidu from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Finally, JPMorgan Chase & Co. cut shares of Baidu from an “overweight” rating to a “neutral” rating in a research note on Wednesday, November 27th. Thirteen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $111.25.

Baidu Stock Up 2.0 %

BIDU stock opened at $94.26 on Friday. The company has a market cap of $33.05 billion, a price-to-earnings ratio of 10.28, a PEG ratio of 2.96 and a beta of 0.47. The firm has a 50-day moving average of $88.14 and a two-hundred day moving average of $89.30. Baidu, Inc. has a 12 month low of $77.20 and a 12 month high of $116.25. The company has a current ratio of 2.09, a quick ratio of 2.19 and a debt-to-equity ratio of 0.19.

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.