Baidu, Inc. (NASDAQ:BIDU) Holdings Cut by Corient Private Wealth LLC

Corient Private Wealth LLC reduced its stake in shares of Baidu, Inc. (NASDAQ:BIDU) by 49.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,155 shares of the information services provider’s stock after selling 16,110 shares during the period. Corient Private Wealth LLC’s holdings in Baidu were worth $1,362,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Rialto Wealth Management LLC purchased a new position in Baidu in the fourth quarter valued at about $42,000. Sycomore Asset Management bought a new stake in shares of Baidu in the 4th quarter valued at approximately $51,000. World Investment Advisors LLC acquired a new position in Baidu in the third quarter worth approximately $72,000. Transamerica Financial Advisors Inc. bought a new position in Baidu during the third quarter valued at approximately $82,000. Finally, Denver PWM LLC lifted its stake in Baidu by 28.5% in the third quarter. Denver PWM LLC now owns 991 shares of the information services provider’s stock valued at $104,000 after acquiring an additional 220 shares during the last quarter.

Baidu Price Performance

Baidu stock opened at $95.38 on Wednesday. The business has a 50 day simple moving average of $90.73 and a 200 day simple moving average of $90.14. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.09 and a quick ratio of 2.19. The company has a market capitalization of $33.44 billion, a PE ratio of 10.40, a price-to-earnings-growth ratio of 2.96 and a beta of 0.47. Baidu, Inc. has a one year low of $77.20 and a one year high of $116.25.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on BIDU shares. Citigroup cut their price objective on Baidu from $142.00 to $141.00 and set a “buy” rating on the stock in a research note on Friday, November 29th. Benchmark restated a “buy” rating and issued a $130.00 price objective on shares of Baidu in a research note on Wednesday, February 19th. Mizuho raised their target price on shares of Baidu from $95.00 to $105.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Barclays boosted their target price 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. Finally, StockNews.com downgraded Baidu from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Thirteen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Baidu presently has a consensus rating of “Hold” and a consensus target price of $111.25.

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.