Baidu, Inc. (NASDAQ:BIDU) Shares Sold by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. decreased its position in Baidu, Inc. (NASDAQ:BIDU - Free Report) by 41.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,898 shares of the information services provider's stock after selling 10,008 shares during the period. Crossmark Global Holdings Inc.'s holdings in Baidu were worth $1,463,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BIDU. Crewe Advisors LLC purchased a new stake in shares of Baidu in the 1st quarter valued at $31,000. iA Global Asset Management Inc. purchased a new stake in Baidu in the second quarter valued at $52,000. Denver PWM LLC acquired a new stake in Baidu during the 2nd quarter worth about $67,000. Allspring Global Investments Holdings LLC raised its stake in shares of Baidu by 630.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 687 shares of the information services provider's stock valued at $72,000 after buying an additional 593 shares during the last quarter. Finally, Grove Bank & Trust lifted its holdings in shares of Baidu by 21.6% in the 3rd quarter. Grove Bank & Trust now owns 731 shares of the information services provider's stock valued at $77,000 after buying an additional 130 shares during the period.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BIDU. Benchmark reduced their price target on Baidu from $180.00 to $135.00 and set a "buy" rating for the company in a research report on Wednesday, July 31st. Loop Capital cut their target price on shares of Baidu from $120.00 to $115.00 and set a "buy" rating for the company in a research note on Monday, August 26th. 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 note on Friday, August 23rd. Dbs Bank lowered shares of Baidu from a "strong-buy" rating to a "hold" rating in a research note on Thursday, October 3rd. Finally, Barclays reduced their price target on Baidu from $125.00 to $115.00 and set an "overweight" rating on the stock in a report on Friday, August 23rd. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $127.29.

Baidu Stock Down 0.5 %

Shares of BIDU stock traded down $0.40 during trading on Thursday, reaching $84.06. The company's stock had a trading volume of 2,425,146 shares, compared to its average volume of 3,623,063. The company has a market capitalization of $29.47 billion, a price-to-earnings ratio of 11.01 and a beta of 0.51. Baidu, Inc. has a 1-year low of $79.68 and a 1-year high of $126.23. 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 stock's 50-day moving average price is $93.51 and its 200 day moving average price is $93.75.

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.