Baidu, Inc. (NASDAQ:BIDU) Stock Holdings Lessened by Cohen Capital Management Inc.

Cohen Capital Management Inc. lessened its holdings in shares of Baidu, Inc. (NASDAQ:BIDU) by 51.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,761 shares of the information services provider’s stock after selling 13,515 shares during the period. Cohen Capital Management Inc.’s holdings in Baidu were worth $1,344,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Crewe Advisors LLC acquired a new stake in Baidu in the first quarter worth $31,000. iA Global Asset Management Inc. bought a new stake in Baidu in the 2nd quarter valued at about $52,000. Denver PWM LLC acquired a new position in Baidu during the 2nd quarter valued at about $67,000. Allspring Global Investments Holdings LLC grew its position in Baidu by 630.9% in the 3rd 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 during the last quarter. Finally, Grove Bank & Trust grew its position in Baidu by 21.6% in the 3rd quarter. Grove Bank & Trust now owns 731 shares of the information services provider’s stock worth $77,000 after purchasing an additional 130 shares during the last quarter.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Dbs Bank downgraded Baidu from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 3rd. Benchmark decreased their price target on Baidu from $180.00 to $135.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Jefferies Financial Group cut their price objective on shares of Baidu from $174.00 to $139.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Citigroup decreased their target price on shares of Baidu from $170.00 to $155.00 and set a “buy” rating for the company in a research report on Monday, July 15th. Finally, Susquehanna dropped their price target on shares of Baidu from $135.00 to $105.00 and set a “positive” rating on the stock in a research report on Thursday, September 5th. Seven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $128.36.

Baidu Stock Performance

Shares of BIDU stock opened at $90.52 on Monday. The stock’s fifty day simple moving average is $92.69 and its 200-day simple moving average is $94.22. The company has a market capitalization of $31.74 billion, a price-to-earnings ratio of 11.86 and a beta of 0.51. The company has a current ratio of 2.32, a quick ratio of 2.32 and a debt-to-equity ratio of 0.19. Baidu, Inc. has a 1-year low of $79.68 and a 1-year high of $126.23.

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.