RWA Wealth Partners LLC Decreases Stake in Baidu, Inc. (NASDAQ:BIDU)

RWA Wealth Partners LLC cut its holdings in Baidu, Inc. (NASDAQ:BIDU) by 17.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,022 shares of the information services provider’s stock after selling 1,950 shares during the quarter. RWA Wealth Partners LLC’s holdings in Baidu were worth $1,074,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of BIDU. Robeco Institutional Asset Management B.V. raised its holdings in Baidu by 87.9% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,190,389 shares of the information services provider’s stock worth $159,929,000 after purchasing an additional 556,891 shares during the last quarter. ANTIPODES PARTNERS Ltd raised its holdings in Baidu by 25.7% during the third quarter. ANTIPODES PARTNERS Ltd now owns 1,322,669 shares of the information services provider’s stock worth $175,187,000 after purchasing an additional 270,187 shares during the last quarter. Federated Hermes Inc. raised its holdings in Baidu by 15.3% during the third quarter. Federated Hermes Inc. now owns 1,794,387 shares of the information services provider’s stock worth $241,076,000 after purchasing an additional 238,374 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Baidu by 63.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 288,573 shares of the information services provider’s stock worth $38,770,000 after purchasing an additional 111,755 shares during the last quarter. Finally, CI Investments Inc. acquired a new position in Baidu during the third quarter worth $14,916,000.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on BIDU shares. Barclays reduced their price objective on Baidu from $138.00 to $133.00 and set an “overweight” rating for the company in a report on Thursday, February 29th. HSBC reduced their price objective on Baidu from $157.00 to $145.00 and set a “buy” rating for the company in a report on Wednesday. Citigroup cut their price target on Baidu from $181.00 to $176.00 and set a “buy” rating for the company in a report on Tuesday, April 9th. Finally, StockNews.com cut Baidu from a “buy” rating to a “hold” rating in a report on Saturday, March 23rd. One investment analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, Baidu presently has an average rating of “Moderate Buy” and an average price target of $171.64.

Baidu Stock Performance

Baidu stock opened at $99.19 on Thursday. The firm has a market capitalization of $34.78 billion, a P/E ratio of 12.85 and a beta of 0.68. The stock has a fifty day moving average price of $103.33 and a 200 day moving average price of $109.20. Baidu, Inc. has a 52 week low of $94.25 and a 52 week high of $156.98. The company has a current ratio of 3.01, a quick ratio of 3.01 and a debt-to-equity ratio of 0.23.

Baidu 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.