PNC Financial Services Group Inc. lowered its position in Baidu, Inc. (NASDAQ:BIDU – Free Report) by 8.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,603 shares of the information services provider’s stock after selling 507 shares during the period. PNC Financial Services Group Inc.’s holdings in Baidu were worth $753,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Morgan Stanley grew its holdings in Baidu by 88.2% during the 4th quarter. Morgan Stanley now owns 2,631,331 shares of the information services provider’s stock valued at $300,972,000 after buying an additional 1,232,917 shares during the last quarter. BlackRock Inc. grew its holdings in Baidu by 56.2% during the 2nd quarter. BlackRock Inc. now owns 1,621,949 shares of the information services provider’s stock valued at $222,061,000 after buying an additional 583,291 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in Baidu by 87.9% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,190,389 shares of the information services provider’s stock valued at $159,929,000 after buying an additional 556,891 shares during the last quarter. Black Creek Investment Management Inc. grew its holdings in Baidu by 25.1% during the 2nd quarter. Black Creek Investment Management Inc. now owns 2,026,064 shares of the information services provider’s stock valued at $277,388,000 after buying an additional 406,038 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in Baidu by 5,704.3% during the 1st quarter. Renaissance Technologies LLC now owns 409,900 shares of the information services provider’s stock valued at $54,230,000 after buying an additional 402,838 shares during the last quarter. Institutional investors and hedge funds own 21.22% of the company’s stock.
Baidu Stock Down 0.7 %
Shares of Baidu stock opened at $110.59 on Tuesday. The business has a 50-day moving average of $109.90 and a 200-day moving average of $118.60. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.82 and a current ratio of 2.82. Baidu, Inc. has a 1-year low of $97.51 and a 1-year high of $160.53.
Wall Street Analyst Weigh In
A number of brokerages have weighed in on BIDU. Susquehanna reduced their price target on Baidu from $175.00 to $150.00 and set a “positive” rating on the stock in a research note on Monday, November 27th. The Goldman Sachs Group cut their target price on Baidu from $181.00 to $174.00 and set a “buy” rating on the stock in a research report on Wednesday, November 22nd. Nomura Instinet raised Baidu from a “neutral” rating to a “buy” rating and set a $145.00 target price on the stock in a research report on Wednesday, November 22nd. Nomura raised Baidu from a “neutral” rating to a “buy” rating and set a $145.00 target price on the stock in a research report on Wednesday, November 22nd. Finally, StockNews.com lowered Baidu from a “buy” rating to a “hold” rating in a research report on Wednesday, February 14th. One research analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, Baidu has a consensus rating of “Moderate Buy” and a consensus target price of $177.00.
Read Our Latest Analysis on BIDU
Baidu Profile
Baidu, Inc offers internet search services in China. It operates through Baidu Core and iQIYI segments. 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.
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Source: americanbankingnews.com
