Price T Rowe Associates Inc. MD Lowers Holdings in Baidu, Inc. (NASDAQ:BIDU)

Price T Rowe Associates Inc. MD reduced its position in shares of Baidu, Inc. (NASDAQ:BIDU) by 0.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,011,792 shares of the information services provider’s stock after selling 2,120 shares during the period. Price T Rowe Associates Inc. MD owned approximately 0.29% of Baidu worth $85,305,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Rialto Wealth Management LLC purchased a new position in Baidu during the fourth quarter worth about $42,000. Sycomore Asset Management bought a new position in shares of Baidu in the fourth quarter worth approximately $51,000. GeoWealth Management LLC raised its stake in Baidu by 88.5% in the fourth quarter. GeoWealth Management LLC now owns 656 shares of the information services provider’s stock valued at $55,000 after purchasing an additional 308 shares in the last quarter. World Investment Advisors LLC bought a new stake in Baidu during the third quarter valued at approximately $72,000. Finally, Denver PWM LLC grew its stake in Baidu by 28.5% in the 3rd quarter. Denver PWM LLC now owns 991 shares of the information services provider’s stock worth $104,000 after buying an additional 220 shares in the last quarter.

Baidu Stock Up 1.4 %

Shares of NASDAQ BIDU opened at $90.74 on Monday. The stock has a market capitalization of $31.35 billion, a price-to-earnings ratio of 9.90, a P/E/G ratio of 2.96 and a beta of 0.33. Baidu, Inc. has a 12-month low of $74.71 and a 12-month high of $116.25. The company has a current ratio of 2.09, a quick ratio of 2.19 and a debt-to-equity ratio of 0.19. The firm’s 50-day moving average price is $89.16 and its 200-day moving average price is $88.39.

Analysts Set New Price Targets

Several brokerages have issued reports on BIDU. Nomura Securities lowered Baidu from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Baidu in a research note on Saturday, March 8th. Barclays decreased their target price on shares of Baidu from $95.00 to $90.00 and set an “equal weight” rating on the stock in a research report on Monday, April 21st. Daiwa Capital Markets restated an “outperform” rating on shares of Baidu in a research report on Tuesday, February 18th. Finally, Mizuho boosted their target price on Baidu from $95.00 to $105.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Thirteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $110.83.

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.