Russell Investments Group Ltd. Sells 115,606 Shares of Baidu, Inc. (NASDAQ:BIDU)

Russell Investments Group Ltd. cut its stake in shares of Baidu, Inc. (NASDAQ:BIDU - Free Report) by 80.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,185 shares of the information services provider's stock after selling 115,606 shares during the period. Russell Investments Group Ltd.'s holdings in Baidu were worth $2,376,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Annandale Capital LLC boosted its holdings in shares of Baidu by 97.8% in the fourth quarter. Annandale Capital LLC now owns 40,032 shares of the information services provider's stock worth $3,375,000 after buying an additional 19,793 shares during the period. Pitcairn Co. boosted its stake in Baidu by 45.3% in the 4th quarter. Pitcairn Co. now owns 7,322 shares of the information services provider's stock worth $617,000 after purchasing an additional 2,283 shares during the period. Geode Capital Management LLC boosted its stake in Baidu by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 120,628 shares of the information services provider's stock worth $10,170,000 after purchasing an additional 1,020 shares during the period. Diametric Capital LP raised its stake in Baidu by 51.9% during the 4th quarter. Diametric Capital LP now owns 8,218 shares of the information services provider's stock valued at $693,000 after purchasing an additional 2,809 shares during the period. Finally, O Shaughnessy Asset Management LLC lifted its holdings in shares of Baidu by 23.1% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 9,679 shares of the information services provider's stock valued at $816,000 after purchasing an additional 1,817 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on BIDU. Sanford C. Bernstein reissued a "market perform" rating on shares of Baidu in a research report on Saturday, March 8th. Mizuho increased their price target 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. Daiwa Capital Markets reaffirmed an "outperform" rating on shares of Baidu in a research report on Tuesday, February 18th. Benchmark reiterated a "buy" rating and issued a $130.00 target price on shares of Baidu in a research report on Wednesday, February 19th. Finally, Nomura downgraded shares of Baidu from a "buy" rating to a "neutral" rating in a research note on Wednesday, February 19th. Thirteen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $110.83.

Baidu Stock Performance

Baidu stock traded up $0.68 on Thursday, reaching $88.19. 530,005 shares of the stock were exchanged, compared to its average volume of 5,383,022. 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 twelve month low of $74.71 and a twelve month high of $116.25. The firm has a fifty day moving average price of $89.31 and a two-hundred day moving average price of $88.89. The stock has a market cap of $30.93 billion, a PE ratio of 9.62, a PEG ratio of 2.96 and a beta of 0.33.

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.