Massachusetts Financial Services Co. MA Sells 6,132 Shares of Baidu, Inc. (NASDAQ:BIDU)

Massachusetts Financial Services Co. MA lessened its stake in Baidu, Inc. (NASDAQ:BIDU - Free Report) by 3.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 192,261 shares of the information services provider's stock after selling 6,132 shares during the period. Massachusetts Financial Services Co. MA owned about 0.05% of Baidu worth $16,210,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in BIDU. FMR LLC boosted its holdings in Baidu by 67.2% in the third quarter. FMR LLC now owns 11,781 shares of the information services provider's stock valued at $1,240,000 after acquiring an additional 4,734 shares during the last quarter. Integrated Wealth Concepts LLC lifted its position in shares of Baidu by 33.7% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 7,104 shares of the information services provider's stock worth $748,000 after purchasing an additional 1,792 shares during the period. Quantinno Capital Management LP bought a new stake in shares of Baidu in the 3rd quarter valued at $201,000. Stifel Financial Corp increased its position in shares of Baidu by 82.5% during the third quarter. Stifel Financial Corp now owns 75,546 shares of the information services provider's stock worth $7,954,000 after buying an additional 34,145 shares during the period. Finally, Wellington Management Group LLP bought a new position in Baidu during the third quarter worth $2,511,000.

Baidu Stock Up 5.4 %

Shares of NASDAQ BIDU traded up $4.26 during mid-day trading on Friday, reaching $82.73. 7,348,818 shares of the company's stock traded hands, compared to its average volume of 4,184,497. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.09 and a quick ratio of 2.19. Baidu, Inc. has a 1-year low of $74.71 and a 1-year high of $116.25. The stock has a market cap of $29.01 billion, a P/E ratio of 9.02, a PEG ratio of 2.96 and a beta of 0.33. The business has a 50-day simple moving average of $90.60 and a 200 day simple moving average of $90.09.

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Analyst Upgrades and Downgrades

A number of brokerages have commented on BIDU. Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Baidu in a research report on Saturday, March 8th. Benchmark restated a "buy" rating and set a $130.00 target price on shares of Baidu in a research report on Wednesday, February 19th. Nomura downgraded Baidu from a "buy" rating to a "neutral" rating in a report on Wednesday, February 19th. Daiwa Capital Markets reissued an "outperform" rating on shares of Baidu in a research note on Tuesday, February 18th. Finally, Mizuho raised their price objective on shares of Baidu from $95.00 to $105.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. Thirteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $111.25.

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.