KBC Group NV Sells 1,696 Shares of Baidu, Inc. (NASDAQ:BIDU)

KBC Group NV reduced its holdings in shares of Baidu, Inc. (NASDAQ:BIDU) by 11.0% during the third quarter, Holdings Channel reports. The fund owned 13,709 shares of the information services provider’s stock after selling 1,696 shares during the period. KBC Group NV’s holdings in Baidu were worth $1,443,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Crewe Advisors LLC bought a new position in shares of Baidu during the 1st quarter valued at $31,000. iA Global Asset Management Inc. bought a new position in shares of Baidu during the second quarter valued at about $52,000. Denver PWM LLC purchased a new position in shares of Baidu in the second quarter worth about $67,000. Allspring Global Investments Holdings LLC lifted its stake in shares of Baidu by 630.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 687 shares of the information services provider’s stock valued at $72,000 after acquiring an additional 593 shares during the last quarter. Finally, Grove Bank & Trust boosted its holdings in Baidu by 21.6% during the 3rd quarter. Grove Bank & Trust now owns 731 shares of the information services provider’s stock valued at $77,000 after acquiring an additional 130 shares during the period.

Analyst Ratings Changes

Several analysts have weighed in on BIDU shares. Sanford C. Bernstein downgraded Baidu from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $130.00 to $97.00 in a research report on Friday, August 23rd. Loop Capital cut their price target on shares of Baidu from $120.00 to $115.00 and set a “buy” rating on the stock in a report on Monday, August 26th. Mizuho decreased their price objective on shares of Baidu from $130.00 to $115.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 12th. Bank of America dropped their target price on shares of Baidu from $128.00 to $117.00 and set a “buy” rating for the company in a report on Friday, August 23rd. Finally, Susquehanna reduced their price target on Baidu from $135.00 to $105.00 and set a “positive” rating on the stock in a report on Thursday, September 5th. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Baidu has a consensus rating of “Moderate Buy” and a consensus price target of $127.29.

Baidu Price Performance

Shares of BIDU stock opened at $85.42 on Tuesday. The business’s fifty day moving average is $93.68 and its 200 day moving average is $93.21. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 0.19. The stock has a market cap of $29.95 billion, a price-to-earnings ratio of 11.25 and a beta of 0.51. Baidu, Inc. has a twelve month low of $79.68 and a twelve month high of $126.23.

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.