Rockefeller Capital Management L.P. Sells 19,891 Shares of Baidu, Inc. (NASDAQ:BIDU)

Rockefeller Capital Management L.P. lowered its stake in shares of Baidu, Inc. (NASDAQ:BIDU - Free Report) by 44.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,063 shares of the information services provider's stock after selling 19,891 shares during the period. Rockefeller Capital Management L.P.'s holdings in Baidu were worth $2,639,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. iA Global Asset Management Inc. bought a new position in Baidu during the second quarter valued at approximately $52,000. Denver PWM LLC bought a new position in shares of Baidu during the 2nd quarter valued at $67,000. Allspring Global Investments Holdings LLC lifted its stake in shares of Baidu by 630.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 687 shares of the information services provider's stock valued at $72,000 after purchasing an additional 593 shares during the last quarter. Grove Bank & Trust boosted 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 in the last quarter. Finally, Transamerica Financial Advisors Inc. acquired a new position in Baidu during the third quarter worth $82,000.

Analysts Set New Price Targets

BIDU has been the subject of several recent analyst reports. Citigroup decreased their price target on Baidu from $142.00 to $141.00 and set a "buy" rating for the company in a research note on Friday, November 29th. Bank of America dropped their price target on shares of Baidu from $128.00 to $117.00 and set a "buy" rating on the stock in a research report on Friday, August 23rd. Benchmark decreased their price objective on shares of Baidu from $135.00 to $130.00 and set a "buy" rating for the company in a report on Friday, November 22nd. Susquehanna downgraded shares of Baidu from a "positive" rating to a "neutral" rating and dropped their target price for the stock from $105.00 to $85.00 in a report on Monday, November 25th. Finally, Dbs Bank cut shares of Baidu from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 3rd. Eleven analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, Baidu currently has a consensus rating of "Hold" and a consensus price target of $113.75.

Baidu Stock Performance

BIDU traded up $0.69 during trading on Friday, reaching $86.43. 1,339,812 shares of the company's stock were exchanged, compared to its average volume of 3,238,854. The company has a market capitalization of $30.31 billion, a P/E ratio of 10.58, a PEG ratio of 1.11 and a beta of 0.46. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 0.18. The business has a 50 day moving average price of $92.46 and a 200 day moving average price of $90.80. Baidu, Inc. has a fifty-two week low of $78.95 and a fifty-two week high of $120.25.

Baidu Company 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.