Aviva PLC Cuts Stock Position in Baidu, Inc. $BIDU

Aviva PLC decreased its holdings in shares of Baidu, Inc. (NASDAQ:BIDU) by 2.6% during the second quarter, HoldingsChannel reports. The institutional investor owned 52,128 shares of the information services provider’s stock after selling 1,385 shares during the period. Aviva PLC’s holdings in Baidu were worth $4,470,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cerity Partners LLC grew its position in shares of Baidu by 160.2% in the first quarter. Cerity Partners LLC now owns 11,138 shares of the information services provider’s stock valued at $1,025,000 after purchasing an additional 6,857 shares during the period. SBI Securities Co. Ltd. raised its position in shares of Baidu by 8.4% during the 1st quarter. SBI Securities Co. Ltd. now owns 6,983 shares of the information services provider’s stock worth $643,000 after purchasing an additional 542 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd lifted its stake in Baidu by 5.4% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 9,126 shares of the information services provider’s stock valued at $898,000 after buying an additional 469 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Baidu by 319.9% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 807,322 shares of the information services provider’s stock worth $74,298,000 after buying an additional 615,061 shares during the last quarter. Finally, Creekmur Asset Management LLC purchased a new stake in Baidu during the 1st quarter worth approximately $29,000.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on BIDU. Macquarie upgraded Baidu from a “neutral” rating to an “outperform” rating and raised their target price for the company from $91.00 to $176.00 in a research report on Friday, October 10th. Weiss Ratings restated a “hold (c)” rating on shares of Baidu in a report on Wednesday, October 8th. Zacks Research raised shares of Baidu from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 16th. Arete upgraded shares of Baidu from a “sell” rating to a “buy” rating and set a $143.00 target price for the company in a research report on Tuesday, September 16th. Finally, Zephirin Group started coverage on shares of Baidu in a research note on Monday, September 15th. They issued a “sell” rating and a $92.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Baidu currently has an average rating of “Moderate Buy” and a consensus price target of $131.00.

Baidu Price Performance

Baidu stock opened at $128.94 on Thursday. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.19. The company has a 50-day moving average price of $125.47 and a 200 day moving average price of $101.12. Baidu, Inc. has a 12-month low of $74.71 and a 12-month high of $149.51. The stock has a market cap of $44.54 billion, a P/E ratio of 11.88 and a beta of 0.43.

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.