M&G Plc Lowers Stock Holdings in Baidu, Inc. (NASDAQ:BIDU)

M&G PLC reduced its holdings in Baidu, Inc. (NASDAQ:BIDU - Free Report) by 4.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 151,090 shares of the information services provider's stock after selling 7,143 shares during the quarter. M&G PLC's holdings in Baidu were worth $15,864,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Crewe Advisors LLC purchased a new position in Baidu during the 1st quarter worth $31,000. iA Global Asset Management Inc. purchased a new position in shares of Baidu in the 2nd quarter worth approximately $52,000. Allspring Global Investments Holdings LLC grew its holdings in shares of Baidu by 630.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 687 shares of the information services provider's stock valued at $72,000 after acquiring an additional 593 shares in the last quarter. Grove Bank & Trust grew its holdings in shares of Baidu by 21.6% in the third quarter. Grove Bank & Trust now owns 731 shares of the information services provider's stock valued at $77,000 after acquiring an additional 130 shares in the last quarter. Finally, Denver PWM LLC purchased a new stake in shares of Baidu during the second quarter valued at approximately $67,000.

Baidu Price Performance

NASDAQ:BIDU traded down $4.57 during trading hours on Friday, hitting $88.96. 4,582,025 shares of the company's stock traded hands, compared to its average volume of 3,632,196. Baidu, Inc. has a 52 week low of $79.68 and a 52 week high of $126.23. The business's fifty day simple moving average is $93.36 and its two-hundred day simple moving average is $94.08. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 0.19. The firm has a market cap of $31.19 billion, a P/E ratio of 11.72 and a beta of 0.51.

Analyst Ratings Changes

BIDU has been the subject of a number of recent analyst reports. Dbs Bank downgraded Baidu from a "strong-buy" rating to a "hold" rating in a research note on Thursday, October 3rd. Barclays reduced their price target on shares of Baidu from $125.00 to $115.00 and set an "overweight" rating for the company in a research report on Friday, August 23rd. Benchmark dropped their target price on shares of Baidu from $180.00 to $135.00 and set a "buy" rating on the stock in a research note on Wednesday, July 31st. Citigroup reduced their target price on shares of Baidu from $170.00 to $155.00 and set a "buy" rating for the company in a research report on Monday, July 15th. Finally, Hsbc Global Res cut shares of Baidu from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 24th. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $128.36.

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.