Fisher Asset Management LLC Sells 6,179 Shares of Baidu, Inc. (NASDAQ:BIDU)

Fisher Asset Management LLC cut its position in shares of Baidu, Inc. (NASDAQ:BIDU - Free Report) by 32.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,866 shares of the information services provider's stock after selling 6,179 shares during the quarter. Fisher Asset Management LLC's holdings in Baidu were worth $1,355,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. iA Global Asset Management Inc. bought a new stake in Baidu in the second quarter worth approximately $52,000. Denver PWM LLC acquired a new position in shares of Baidu during the 2nd quarter valued at $67,000. Allspring Global Investments Holdings LLC boosted its stake in Baidu by 630.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 687 shares of the information services provider's stock worth $72,000 after acquiring an additional 593 shares in the last quarter. Grove Bank & Trust grew its holdings in Baidu by 21.6% in the third quarter. Grove Bank & Trust now owns 731 shares of the information services provider's stock worth $77,000 after purchasing an additional 130 shares during the period. Finally, EverSource Wealth Advisors LLC increased its stake in Baidu by 102.2% in the second quarter. EverSource Wealth Advisors LLC now owns 1,098 shares of the information services provider's stock valued at $97,000 after purchasing an additional 555 shares in the last quarter.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on BIDU shares. Susquehanna cut shares of Baidu from a "positive" rating to a "neutral" rating and cut their price objective for the stock from $105.00 to $85.00 in a research report on Monday, November 25th. Barclays lowered Baidu from an "overweight" rating to an "equal weight" rating in a report on Friday, November 22nd. Loop Capital decreased their price objective on Baidu from $120.00 to $115.00 and set a "buy" rating for the company in a report on Monday, August 26th. Citigroup cut their target price on Baidu from $142.00 to $141.00 and set a "buy" rating on the stock in a report on Friday. Finally, Benchmark decreased their price target on shares of Baidu from $135.00 to $130.00 and set a "buy" rating for the company in a research note on Friday, November 22nd. Ten research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $113.75.

Baidu Stock Performance

Shares of BIDU stock traded up $0.23 during trading on Friday, hitting $85.05. The company's stock had a trading volume of 2,495,743 shares, compared to its average volume of 3,630,001. The business has a fifty day moving average of $93.57 and a 200-day moving average of $91.63. The company has a market cap of $29.82 billion, a PE ratio of 10.41, a P/E/G ratio of 1.11 and a beta of 0.51. Baidu, Inc. has a 52 week low of $78.95 and a 52 week high of $120.25. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 0.18.

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.