Avalon Advisors LLC reduced its stake in shares of Baidu Inc (NASDAQ:BIDU) by 11.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,473 shares of the information services provider’s stock after selling 593 shares during the quarter. Avalon Advisors LLC’s holdings in Baidu were worth $709,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of BIDU. Whittier Trust Co. of Nevada Inc. purchased a new stake in Baidu in the fourth quarter worth about $26,000. First Personal Financial Services lifted its stake in Baidu by 70.7% in the fourth quarter. First Personal Financial Services now owns 169 shares of the information services provider’s stock worth $27,000 after acquiring an additional 70 shares during the period. Regal Wealth Group Inc. purchased a new stake in Baidu in the fourth quarter worth about $32,000. Semmax Financial Advisors Inc. purchased a new stake in Baidu in the fourth quarter worth about $33,000. Finally, Rational Advisors LLC lifted its stake in Baidu by 1,400.0% in the fourth quarter. Rational Advisors LLC now owns 210 shares of the information services provider’s stock worth $33,000 after acquiring an additional 196 shares during the period. 62.13% of the stock is owned by hedge funds and other institutional investors.
A number of analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Baidu from a “hold” rating to a “sell” rating in a research note on Wednesday, December 5th. TheStreet lowered shares of Baidu from a “b-” rating to a “c+” rating in a research note on Friday, December 21st. Daiwa Capital Markets set a $215.00 price objective on shares of Baidu and gave the stock a “buy” rating in a research note on Friday, March 8th. Sanford C. Bernstein reaffirmed a “mkt perform” rating on shares of Baidu in a research note on Monday, January 14th. Finally, Credit Suisse Group set a $246.00 price objective on shares of Baidu and gave the stock a “buy” rating in a research note on Sunday, December 23rd. Two analysts have rated the stock with a sell rating, four have issued a hold rating and fourteen have given a buy rating to the company’s stock. Baidu presently has an average rating of “Buy” and an average target price of $248.94.
Shares of Baidu stock opened at $170.48 on Monday. The stock has a market capitalization of $59.12 billion, a price-to-earnings ratio of 21.86, a PEG ratio of 1.51 and a beta of 1.47. The company has a quick ratio of 2.66, a current ratio of 2.73 and a debt-to-equity ratio of 0.31. Baidu Inc has a one year low of $153.78 and a one year high of $284.22.
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Baidu, Inc provides Internet search services in China and internationally. It operates through two segments, Baidu Core and iQIYI. The Baidu Core segment offers products for uses, including Baidu App to access search, feed, and other services using mobile devices; Baidu Search to access its search and other services through mobile browsers; Baidu Feed that provides users with personalized timeline to meet their personal interests reflected in their past online behaviors; and Bear Paw Account that enables verified brands and businesses to aggregate their content from Websites, wapsites, and open-platform apps.
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