Waterfront Wealth Inc. Sells 1,001 Shares of Baidu, Inc. (NASDAQ:BIDU)

Waterfront Wealth Inc. lessened its holdings in Baidu, Inc. (NASDAQ:BIDU) by 4.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 19,316 shares of the information services provider’s stock after selling 1,001 shares during the quarter. Waterfront Wealth Inc.’s holdings in Baidu were worth $1,629,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Sycomore Asset Management acquired a new position in Baidu in the fourth quarter worth about $51,000. Allspring Global Investments Holdings LLC raised its position in Baidu by 630.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 687 shares of the information services provider’s stock worth $72,000 after purchasing an additional 593 shares in the last quarter. World Investment Advisors LLC acquired a new position in Baidu in the third quarter worth about $72,000. Transamerica Financial Advisors Inc. acquired a new stake in shares of Baidu during the third quarter worth approximately $82,000. Finally, Denver PWM LLC increased its holdings in shares of Baidu by 28.5% during the third 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.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Susquehanna lowered shares of Baidu from a “positive” rating to a “neutral” rating and dropped their price objective for the stock from $105.00 to $85.00 in a report on Monday, November 25th. StockNews.com lowered shares of Baidu from a “buy” rating to a “hold” rating in a report on Wednesday. JPMorgan Chase & Co. lowered shares of Baidu from an “overweight” rating to a “neutral” rating in a report on Wednesday, November 27th. Mizuho raised their price objective on shares of Baidu from $95.00 to $105.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Citigroup dropped their price objective on shares of Baidu from $142.00 to $141.00 and set a “buy” rating for the company in a report on Friday, November 29th. Thirteen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $111.25.

Baidu Price Performance

Shares of BIDU stock opened at $89.65 on Friday. Baidu, Inc. has a 52-week low of $77.19 and a 52-week high of $116.25. The stock has a market cap of $31.44 billion, a PE ratio of 9.78, a PEG ratio of 2.07 and a beta of 0.46. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.19 and a current ratio of 2.19. The firm’s 50 day moving average price is $87.09 and its two-hundred day moving average price is $88.82.

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.