Massachusetts Financial Services Co. MA Reduces Stock Holdings in Baidu, Inc. $BIDU

Massachusetts Financial Services Co. MA lowered its position in Baidu, Inc. (NASDAQ:BIDU) by 9.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 580,027 shares of the information services provider’s stock after selling 57,076 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Baidu were worth $75,786,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. UMB Bank n.a. increased its position in shares of Baidu by 65.0% in the third quarter. UMB Bank n.a. now owns 340 shares of the information services provider’s stock valued at $45,000 after buying an additional 134 shares in the last quarter. Binnacle Investments Inc purchased a new position in shares of Baidu in the second quarter valued at $29,000. Ameritas Advisory Services LLC increased its position in shares of Baidu by 12,400.0% in the third quarter. Ameritas Advisory Services LLC now owns 375 shares of the information services provider’s stock valued at $49,000 after buying an additional 372 shares in the last quarter. Sycomore Asset Management purchased a new position in shares of Baidu in the third quarter valued at $79,000. Finally, Mondrian Investment Partners LTD purchased a new position in shares of Baidu in the third quarter valued at $80,000.

Analyst Ratings Changes

BIDU has been the topic of a number of analyst reports. Nomura decreased their price objective on Baidu from $196.00 to $186.00 and set a “buy” rating on the stock in a research note on Friday, March 6th. Wall Street Zen upgraded Baidu from a “sell” rating to a “hold” rating in a research report on Saturday, April 4th. China Renaissance upgraded Baidu from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $134.00 to $180.00 in a research report on Tuesday, February 3rd. Zephirin Group lifted their price objective on Baidu from $88.00 to $89.00 and gave the stock a “sell” rating in a research report on Monday, March 2nd. Finally, Barclays dropped their price objective on Baidu from $147.00 to $128.00 and set an “equal weight” rating for the company in a research report on Thursday, March 5th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $158.05.

Baidu Stock Up 3.3%

BIDU stock opened at $112.01 on Tuesday. The stock has a market capitalization of $38.11 billion, a P/E ratio of 70.45 and a beta of 0.44. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.76 and a current ratio of 1.76. Baidu, Inc. has a one year low of $81.17 and a one year high of $165.30. The company has a 50 day moving average price of $124.21 and a two-hundred day moving average price of $128.66.

Baidu Profile

Baidu, Inc, founded in 2000 and headquartered in Beijing, is a Chinese multinational technology company best known for operating one of China’s leading internet search engines. The company built its business around online search and related advertising services, providing search, content aggregation and targeted ad placements to consumers and marketers across China. Baidu went public on the NASDAQ in 2005 and has since diversified beyond search into a broader technology and AI-focused portfolio.

Core products and services include the Baidu search platform and mobile app, Baidu Maps and Baidu Baike (an online encyclopedia), along with digital content initiatives.