Baidu, Inc. (NASDAQ:BIDU) Position Lowered by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its position in Baidu, Inc. (NASDAQ:BIDU) by 36.8% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 2,391 shares of the information services provider’s stock after selling 1,390 shares during the period. Bank of New York Mellon Corp’s holdings in Baidu were worth $207,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Crewe Advisors LLC bought a new stake in shares of Baidu in the 1st quarter valued at approximately $31,000. Silicon Valley Capital Partners bought a new stake in Baidu during the first quarter valued at $53,000. Accent Capital Management LLC acquired a new stake in shares of Baidu during the fourth quarter worth $66,000. UMB Bank n.a. lifted its position in shares of Baidu by 93.5% in the 1st quarter. UMB Bank n.a. now owns 774 shares of the information services provider’s stock worth $81,000 after buying an additional 374 shares during the last quarter. Finally, Barometer Capital Management Inc. acquired a new position in shares of Baidu in the 4th quarter valued at about $119,000.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on BIDU shares. Barclays dropped their price objective on shares of Baidu from $125.00 to $115.00 and set an “overweight” rating on the stock in a research note on Friday, August 23rd. Susquehanna lowered their price target on shares of Baidu from $135.00 to $105.00 and set a “positive” rating for the company in a research report on Thursday, September 5th. HSBC lowered shares of Baidu from a “buy” rating to a “hold” rating and set a $100.00 price target on the stock. in a research note on Tuesday. Bank of America reduced their price objective on Baidu from $128.00 to $117.00 and set a “buy” rating for the company in a research report on Friday, August 23rd. Finally, Jefferies Financial Group lowered their target price on Baidu from $174.00 to $139.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, Baidu has a consensus rating of “Moderate Buy” and an average price target of $132.13.

Baidu Stock Up 9.1 %

BIDU stock opened at $102.56 on Friday. The firm has a market cap of $35.96 billion, a PE ratio of 13.63 and a beta of 0.48. Baidu, Inc. has a 12 month low of $79.68 and a 12 month high of $136.53. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.32 and a quick ratio of 2.32. The firm has a 50 day simple moving average of $86.26 and a 200 day simple moving average of $95.11.

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.