Wealth Enhancement Advisory Services LLC Sells 475 Shares of Baidu, Inc. (NASDAQ:BIDU)

Wealth Enhancement Advisory Services LLC decreased its holdings in shares of Baidu, Inc. (NASDAQ:BIDU) by 8.1% in the 2nd quarter, Holdings Channel.com reports. The firm owned 5,408 shares of the information services provider’s stock after selling 475 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Baidu were worth $468,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BIDU. Crossmark Global Holdings Inc. boosted its position in shares of Baidu by 0.3% in the fourth quarter. Crossmark Global Holdings Inc. now owns 29,375 shares of the information services provider’s stock valued at $3,498,000 after acquiring an additional 99 shares during the period. Guinness Asset Management LTD grew its position in Baidu by 4.4% in the 2nd quarter. Guinness Asset Management LTD now owns 2,360 shares of the information services provider’s stock worth $204,000 after purchasing an additional 100 shares during the last quarter. Kingsview Wealth Management LLC increased its holdings 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 purchasing an additional 110 shares during the period. Beacon Financial Group raised its position 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 valued at $226,000 after buying an additional 128 shares during the last quarter. Finally, Ignite Planners LLC lifted its stake in shares of 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.

Baidu Stock Down 0.1 %

Shares of BIDU opened at $85.70 on Friday. The company has a market capitalization of $30.05 billion, a P/E ratio of 11.47 and a beta of 0.49. Baidu, Inc. has a one year low of $79.68 and a one year high of $151.00. The business’s 50 day simple moving average is $88.96 and its 200-day simple moving average is $98.37. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.79 and a quick ratio of 2.79.

Analysts Set New Price Targets

Several brokerages recently issued reports on BIDU. Sanford C. Bernstein lowered Baidu from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $130.00 to $97.00 in a research note on Friday. Susquehanna cut their target price on Baidu from $150.00 to $135.00 and set a “positive” rating for the company in a research note on Friday, May 24th. Jefferies Financial Group decreased their price target on shares of Baidu from $174.00 to $139.00 and set a “buy” rating on the stock in a research note on Thursday. Benchmark dropped their price objective on shares of Baidu from $180.00 to $135.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Finally, Morgan Stanley lowered shares of Baidu from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $140.00 to $125.00 in a research report on Friday, May 17th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Baidu presently has an average rating of “Moderate Buy” and a consensus price target of $138.13.

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.