Baidu, Inc. (NASDAQ:BIDU) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. lessened its stake in Baidu, Inc. (NASDAQ:BIDU) by 11.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,690,259 shares of the information services provider’s stock after selling 226,703 shares during the period. Federated Hermes Inc.’s holdings in Baidu were worth $142,506,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FMR LLC increased its holdings in shares of Baidu by 67.2% in the third quarter. FMR LLC now owns 11,781 shares of the information services provider’s stock valued at $1,240,000 after purchasing an additional 4,734 shares during the period. Integrated Wealth Concepts LLC increased its stake in Baidu by 33.7% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 7,104 shares of the information services provider’s stock valued at $748,000 after buying an additional 1,792 shares during the period. Quantinno Capital Management LP purchased a new position in Baidu during the 3rd quarter worth $201,000. Stifel Financial Corp lifted its stake in shares of Baidu by 82.5% in the 3rd quarter. Stifel Financial Corp now owns 75,546 shares of the information services provider’s stock worth $7,954,000 after acquiring an additional 34,145 shares during the period. Finally, Wellington Management Group LLP purchased a new stake in shares of Baidu in the third quarter valued at about $2,511,000.

Analyst Ratings Changes

BIDU has been the subject of several analyst reports. Nomura cut shares of Baidu from a “buy” rating to a “neutral” rating in a report on Wednesday, February 19th. Barclays raised their price target on Baidu from $83.00 to $95.00 and gave the company an “equal weight” rating in a report on Tuesday, February 11th. Mizuho upped their price objective on Baidu from $95.00 to $105.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Daiwa Capital Markets reissued an “outperform” rating on shares of Baidu in a report on Tuesday, February 18th. Finally, Nomura Securities cut shares of Baidu from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Thirteen research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $111.25.

Baidu Stock Performance

Shares of BIDU opened at $82.43 on Friday. Baidu, Inc. has a 12-month low of $77.20 and a 12-month high of $116.25. The stock has a market cap of $28.90 billion, a P/E ratio of 8.99, a PEG ratio of 2.96 and a beta of 0.33. The company has a current ratio of 2.09, a quick ratio of 2.19 and a debt-to-equity ratio of 0.19. The company has a 50-day moving average of $92.19 and a two-hundred day moving average of $90.58.

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.