Cohen Capital Management Inc. Sells 13,515 Shares of Baidu, Inc. (NASDAQ:BIDU)

Cohen Capital Management Inc. reduced its position in shares of Baidu, Inc. (NASDAQ:BIDU - Free Report) by 51.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,761 shares of the information services provider's stock after selling 13,515 shares during the period. Cohen Capital Management Inc.'s holdings in Baidu were worth $1,344,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in BIDU. Crewe Advisors LLC bought a new stake in shares of Baidu during the first quarter worth $31,000. iA Global Asset Management Inc. bought a new stake in shares of Baidu during the second quarter worth $52,000. Denver PWM LLC bought a new stake in shares of Baidu during the second quarter worth $67,000. Allspring Global Investments Holdings LLC grew its stake in shares of 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 buying an additional 593 shares during the last quarter. Finally, Grove Bank & Trust grew its stake in shares of Baidu by 21.6% during the third quarter. Grove Bank & Trust now owns 731 shares of the information services provider's stock worth $77,000 after buying an additional 130 shares during the last quarter.

Baidu Stock Up 0.5 %

Shares of BIDU traded up $0.44 on Monday, reaching $90.46. The company's stock had a trading volume of 1,515,129 shares, compared to its average volume of 3,637,885. The company has a current ratio of 2.32, a quick ratio of 2.32 and a debt-to-equity ratio of 0.19. Baidu, Inc. has a twelve month low of $79.68 and a twelve month high of $126.23. The stock has a market capitalization of $31.72 billion, a PE ratio of 11.94 and a beta of 0.51. The firm has a fifty day moving average of $92.69 and a 200-day moving average of $94.22.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on BIDU shares. Jefferies Financial Group reduced their price objective on shares of Baidu from $174.00 to $139.00 and set a "buy" rating on the stock in a research note on Thursday, August 22nd. HSBC cut shares of Baidu from a "buy" rating to a "hold" rating and set a $100.00 price objective on the stock. in a research note on Tuesday, September 24th. Loop Capital cut their price target on shares of Baidu from $120.00 to $115.00 and set a "buy" rating on the stock in a research report on Monday, August 26th. Dbs Bank cut shares of Baidu from a "strong-buy" rating to a "hold" rating in a research report on Thursday, October 3rd. Finally, Citigroup cut their price target on shares of Baidu from $170.00 to $155.00 and set a "buy" rating on the stock in a research report on Monday, July 15th. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus 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.