Federated Hermes Inc. Decreases Stock Holdings in Baidu, Inc. $BIDU

Federated Hermes Inc. lowered its position in shares of Baidu, Inc. (NASDAQ:BIDU) by 24.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 845,595 shares of the information services provider’s stock after selling 272,830 shares during the period. Federated Hermes Inc.’s holdings in Baidu were worth $72,518,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of BIDU. Winthrop Capital Management LLC purchased a new stake in Baidu during the 2nd quarter worth about $39,000. Mizuho Securities Co. Ltd. acquired a new stake in shares of Baidu during the 2nd quarter worth about $43,000. CX Institutional lifted its position in shares of Baidu by 34.1% during the 2nd quarter. CX Institutional now owns 715 shares of the information services provider’s stock worth $61,000 after buying an additional 182 shares during the last quarter. Assetmark Inc. boosted its holdings in shares of Baidu by 127.6% in the 2nd quarter. Assetmark Inc. now owns 742 shares of the information services provider’s stock valued at $64,000 after buying an additional 416 shares in the last quarter. Finally, Parallel Advisors LLC grew its position in shares of Baidu by 17.0% in the 2nd quarter. Parallel Advisors LLC now owns 935 shares of the information services provider’s stock valued at $80,000 after buying an additional 136 shares during the last quarter.

Baidu Trading Up 5.8%

Shares of BIDU stock opened at $125.66 on Monday. The business’s 50 day moving average is $124.11 and its two-hundred day moving average is $104.55. Baidu, Inc. has a twelve month low of $74.71 and a twelve month high of $149.51. The company has a market capitalization of $43.41 billion, a P/E ratio of 41.75 and a beta of 0.44. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 0.23.

Analysts Set New Price Targets

A number of brokerages recently weighed in on BIDU. Weiss Ratings reissued a “hold (c-)” rating on shares of Baidu in a research report on Monday, December 1st. Bank of America lifted their price target on Baidu from $100.00 to $151.00 and gave the stock a “buy” rating in a research report on Wednesday, November 19th. Citigroup reissued a “buy” rating on shares of Baidu in a report on Monday. Dbs Bank upgraded shares of Baidu from a “hold” rating to a “buy” rating and raised their target price for the stock from $85.00 to $177.00 in a research report on Thursday, September 25th. Finally, Macquarie upgraded shares of Baidu from a “neutral” rating to an “outperform” rating and upped their price target for the company from $91.00 to $176.00 in a research report on Friday, October 10th. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Baidu has a consensus rating of “Moderate Buy” and a consensus price target of $146.11.

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.