Fisher Asset Management LLC Cuts Holdings in Baidu, Inc. (NASDAQ:BIDU)

Fisher Asset Management LLC decreased its position in Baidu, Inc. (NASDAQ:BIDU) by 14.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 10,948 shares of the information services provider’s stock after selling 1,918 shares during the period. Fisher Asset Management LLC’s holdings in Baidu were worth $923,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Sycomore Asset Management purchased a new stake in shares of Baidu during the fourth quarter worth about $51,000. World Investment Advisors LLC purchased a new stake in shares of Baidu during the third quarter worth about $72,000. Transamerica Financial Advisors Inc. purchased a new stake in shares of Baidu during the third quarter worth about $82,000. Denver PWM LLC increased its stake 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 purchasing an additional 220 shares in the last quarter. Finally, Banco Santander S.A. acquired a new position in Baidu during the third quarter worth about $201,000.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on BIDU shares. Citigroup lowered their price target on shares of Baidu from $142.00 to $141.00 and set a “buy” rating on the stock in a research report on Friday, November 29th. Nomura lowered shares of Baidu from a “buy” rating to a “neutral” rating in a research report on Wednesday, February 19th. StockNews.com lowered shares of Baidu from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Nomura Securities lowered shares of Baidu from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Finally, China Renaissance lowered shares of Baidu from a “buy” rating to a “hold” rating and set a $86.00 price target on the stock. in a research report on Monday, November 25th. Thirteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $111.25.

Baidu Stock Performance

Shares of BIDU stock opened at $91.88 on Thursday. The firm’s 50 day moving average price is $87.11 and its 200-day moving average price is $89.07. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.19 and a current ratio of 2.09. Baidu, Inc. has a one year low of $77.20 and a one year high of $116.25. The firm has a market cap of $32.22 billion, a P/E ratio of 10.02, a P/E/G ratio of 2.96 and a beta of 0.47.

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.