Baidu, Inc. (NASDAQ:BIDU) Shares Sold by Bank of Nova Scotia

Bank of Nova Scotia lowered its stake in Baidu, Inc. (NASDAQ:BIDU - Free Report) by 16.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 200,029 shares of the information services provider's stock after selling 40,000 shares during the quarter. Bank of Nova Scotia owned 0.06% of Baidu worth $16,864,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Pictet Asset Management Holding SA boosted its position in Baidu by 9.4% during the 4th quarter. Pictet Asset Management Holding SA now owns 2,410,307 shares of the information services provider's stock valued at $203,213,000 after buying an additional 207,966 shares during the period. Appaloosa LP boosted its holdings in shares of Baidu by 7.2% during the fourth quarter. Appaloosa LP now owns 1,527,909 shares of the information services provider's stock worth $128,818,000 after purchasing an additional 102,909 shares during the period. North of South Capital LLP grew its stake in shares of Baidu by 18.9% in the fourth quarter. North of South Capital LLP now owns 614,847 shares of the information services provider's stock worth $51,838,000 after purchasing an additional 97,549 shares during the last quarter. FIL Ltd increased its holdings in Baidu by 367.1% during the 4th quarter. FIL Ltd now owns 599,918 shares of the information services provider's stock valued at $50,579,000 after purchasing an additional 471,497 shares during the period. Finally, SG Americas Securities LLC raised its position in Baidu by 147.5% during 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 purchasing an additional 227,338 shares during the last quarter.

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Baidu Stock Down 0.5 %

NASDAQ BIDU traded down $0.45 during midday trading on Tuesday, hitting $84.79. 1,444,677 shares of the company traded hands, compared to its average volume of 4,172,363. The company has a market cap of $29.73 billion, a PE ratio of 9.25, a price-to-earnings-growth ratio of 2.96 and a beta of 0.33. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.09 and a quick ratio of 2.19. The company's 50-day simple moving average is $90.53 and its 200-day simple moving average is $89.87. Baidu, Inc. has a 52 week low of $74.71 and a 52 week high of $116.25.

Analysts Set New Price Targets

A number of brokerages recently commented on BIDU. Daiwa Capital Markets reaffirmed an "outperform" rating on shares of Baidu in a research note on Tuesday, February 18th. StockNews.com cut Baidu from a "buy" rating to a "hold" rating in a research note on Wednesday, February 19th. Sanford C. Bernstein reiterated a "market perform" rating on shares of Baidu in a report on Saturday, March 8th. Mizuho increased their price objective on shares of Baidu from $95.00 to $105.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. Finally, Nomura downgraded shares of Baidu from a "buy" rating to a "neutral" rating in a report on Wednesday, February 19th. Thirteen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, Baidu currently has an average rating of "Hold" and a consensus price target of $111.25.

Baidu 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.