Invesco Ltd. Reduces Stake in Baidu, Inc. (NASDAQ:BIDU)

Invesco Ltd. lessened its holdings in shares of Baidu, Inc. (NASDAQ:BIDU - Free Report) by 3.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 206,181 shares of the information services provider's stock after selling 6,462 shares during the period. Invesco Ltd. owned 0.06% of Baidu worth $17,383,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Baidu by 1,111.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 360,378 shares of the information services provider's stock valued at $30,317,000 after purchasing an additional 330,627 shares in the last quarter. Contrarius Group Holdings Ltd purchased a new stake in shares of Baidu in the 4th quarter valued at approximately $27,328,000. SG Americas Securities LLC increased its holdings in shares of Baidu by 147.5% during the 4th quarter. SG Americas Securities LLC now owns 381,456 shares of the information services provider's stock worth $32,161,000 after buying an additional 227,338 shares during the last quarter. Pictet Asset Management Holding SA raised its position in shares of 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. Finally, Infini Capital Management Ltd grew its position in Baidu by 1,510.4% in the fourth quarter. Infini Capital Management Ltd now owns 180,360 shares of the information services provider's stock worth $15,206,000 after acquiring an additional 169,160 shares during the period.

Baidu Stock Up 2.8 %

Baidu stock traded up $2.40 during trading on Wednesday, reaching $87.46. The stock had a trading volume of 2,877,950 shares, compared to its average volume of 4,176,649. The company has a quick ratio of 2.19, a current ratio of 2.09 and a debt-to-equity ratio of 0.19. Baidu, Inc. has a 52-week low of $74.71 and a 52-week high of $116.25. The stock has a market cap of $30.67 billion, a PE ratio of 9.54, a P/E/G ratio of 2.96 and a beta of 0.33. The business has a 50 day moving average price of $89.51 and a 200 day moving average price of $88.89.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on BIDU shares. Barclays cut their price objective on Baidu from $95.00 to $90.00 and set an "equal weight" rating for the company in a research report on Monday. Daiwa Capital Markets reiterated an "outperform" rating on shares of Baidu in a research report on Tuesday, February 18th. Sanford C. Bernstein reissued a "market perform" rating on shares of Baidu in a research note on Saturday, March 8th. Nomura Securities cut shares of Baidu from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, February 19th. Finally, Nomura lowered Baidu from a "buy" rating to a "neutral" rating in a research report on Wednesday, February 19th. Thirteen equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Baidu has a consensus rating of "Hold" and an average target price of $110.83.

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.