Baidu Inc (BIDU) Stake Lessened by Financial Counselors Inc.

Financial Counselors Inc. cut its holdings in shares of Baidu Inc (NASDAQ:BIDU) by 66.2% during the third quarter, HoldingsChannel reports. The firm owned 1,534 shares of the information services provider’s stock after selling 3,001 shares during the period. Financial Counselors Inc.’s holdings in Baidu were worth $351,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Federated Investors Inc. PA acquired a new position in shares of Baidu during the second quarter worth $108,000. Flagship Harbor Advisors LLC acquired a new position in shares of Baidu in the 2nd quarter valued at $119,000. Bartlett & Co. LLC increased its position in shares of Baidu by 71.0% in the 2nd quarter. Bartlett & Co. LLC now owns 530 shares of the information services provider’s stock valued at $129,000 after acquiring an additional 220 shares during the period. Centaurus Financial Inc. acquired a new position in shares of Baidu in the 2nd quarter valued at $150,000. Finally, CENTRAL TRUST Co increased its position in shares of Baidu by 116.0% in the 3rd quarter. CENTRAL TRUST Co now owns 741 shares of the information services provider’s stock valued at $170,000 after acquiring an additional 398 shares during the period. 60.84% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ:BIDU opened at $194.69 on Friday. Baidu Inc has a one year low of $177.80 and a one year high of $284.22. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.19 and a current ratio of 2.19. The firm has a market capitalization of $67.51 billion, a price-to-earnings ratio of 24.16, a price-to-earnings-growth ratio of 1.09 and a beta of 1.61.

BIDU has been the topic of several research reports. BidaskClub downgraded Baidu from a “sell” rating to a “strong sell” rating in a research report on Saturday, October 6th. Zacks Investment Research downgraded Baidu from a “hold” rating to a “sell” rating in a research report on Monday, October 8th. ValuEngine downgraded Baidu from a “hold” rating to a “sell” rating in a research report on Thursday, September 6th. Credit Suisse Group set a $246.00 target price on Baidu and gave the company a “buy” rating in a research report on Wednesday. Finally, Deutsche Bank set a $369.00 target price on Baidu and gave the company a “buy” rating in a research report on Monday, October 29th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and fourteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $278.86.

Baidu Profile

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, such as search and browsing, and their demographics; and Bear Paw Account that enables verified brands and businesses to aggregate their content from Websites, wapsites, and open-platform apps.

See Also: Diversification in Investing

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Institutional Ownership by Quarter for Baidu (NASDAQ:BIDU)

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