Corient Private Wealth LLC Has $1.36 Million Position in Baidu, Inc. (NASDAQ:BIDU)

Corient Private Wealth LLC lessened its stake in Baidu, Inc. (NASDAQ:BIDU - Free Report) by 49.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,155 shares of the information services provider's stock after selling 16,110 shares during the quarter. Corient Private Wealth LLC's holdings in Baidu were worth $1,362,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of BIDU. Fred Alger Management LLC acquired a new stake in Baidu during the third quarter valued at approximately $790,000. SG Americas Securities LLC increased its holdings in shares of Baidu by 147.5% in the 4th quarter. SG Americas Securities LLC now owns 381,456 shares of the information services provider's stock valued at $32,161,000 after acquiring an additional 227,338 shares during the last quarter. World Investment Advisors LLC acquired a new stake in shares of Baidu during the 3rd quarter valued at approximately $72,000. Union Bancaire Privee UBP SA bought a new position in Baidu during the fourth quarter worth $558,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in Baidu by 1,111.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 360,378 shares of the information services provider's stock worth $30,317,000 after purchasing an additional 330,627 shares during the last quarter.

Analysts Set New Price Targets

BIDU has been the topic of a number of research reports. Nomura Securities cut shares of Baidu from a "strong-buy" rating to a "hold" rating in a report on Wednesday, February 19th. StockNews.com lowered shares of Baidu from a "buy" rating to a "hold" rating in a research note on Wednesday, February 19th. Benchmark restated a "buy" rating and issued a $130.00 target price on shares of Baidu in a research note on Wednesday, February 19th. Barclays upped their target price on Baidu from $83.00 to $95.00 and gave the company an "equal weight" rating in a report on Tuesday, February 11th. Finally, Nomura downgraded Baidu from a "buy" rating to a "neutral" rating in a report on Wednesday, February 19th. Thirteen research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Baidu presently has an average rating of "Hold" and an average price target of $111.25.

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Baidu Price Performance

Shares of NASDAQ BIDU traded down $5.05 during mid-day trading on Friday, reaching $93.37. The company had a trading volume of 6,535,625 shares, compared to its average volume of 4,010,218. The company has a 50-day moving average price of $91.61 and a two-hundred day moving average price of $90.39. The stock has a market cap of $32.74 billion, a PE ratio of 10.18, a P/E/G ratio of 2.96 and a beta of 0.47. The company has a current ratio of 2.09, a quick ratio of 2.19 and a debt-to-equity ratio of 0.19. Baidu, Inc. has a 1-year low of $77.20 and a 1-year high of $116.25.

About Baidu

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.