Cibc World Market Inc. Trims Holdings in Baidu, Inc. $BIDU

Cibc World Market Inc. trimmed its stake in Baidu, Inc. (NASDAQ:BIDU) by 11.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 88,304 shares of the information services provider’s stock after selling 11,445 shares during the period. Cibc World Market Inc.’s holdings in Baidu were worth $11,538,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in BIDU. Keel Point LLC grew its holdings in shares of Baidu by 1.7% in the third quarter. Keel Point LLC now owns 5,144 shares of the information services provider’s stock valued at $678,000 after purchasing an additional 84 shares in the last quarter. PDS Planning Inc grew its holdings in shares of Baidu by 5.7% in the fourth quarter. PDS Planning Inc now owns 1,634 shares of the information services provider’s stock valued at $213,000 after purchasing an additional 88 shares in the last quarter. Signaturefd LLC grew its holdings in shares of Baidu by 8.4% in the fourth quarter. Signaturefd LLC now owns 1,276 shares of the information services provider’s stock valued at $167,000 after purchasing an additional 99 shares in the last quarter. State of Wyoming grew its holdings in shares of Baidu by 13.2% in the third quarter. State of Wyoming now owns 857 shares of the information services provider’s stock valued at $113,000 after purchasing an additional 100 shares in the last quarter. Finally, Parallel Advisors LLC grew its holdings in shares of Baidu by 11.6% in the third quarter. Parallel Advisors LLC now owns 1,043 shares of the information services provider’s stock valued at $137,000 after purchasing an additional 108 shares in the last quarter.

Baidu Trading Down 9.7%

Shares of NASDAQ:BIDU opened at $121.66 on Friday. Baidu, Inc. has a 52 week low of $83.30 and a 52 week high of $165.30. The company’s 50 day moving average is $125.85 and its two-hundred day moving average is $129.70. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.22. The company has a market cap of $41.39 billion, a PE ratio of -1,013.75, a P/E/G ratio of 2.08 and a beta of 0.54.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on BIDU shares. BNP Paribas Exane started coverage on Baidu in a research note on Wednesday, April 1st. They issued an “outperform” rating and a $161.00 price objective on the stock. Benchmark reiterated a “buy” rating and issued a $215.00 price objective on shares of Baidu in a research note on Tuesday, May 19th. Wall Street Zen upgraded Baidu from a “sell” rating to a “hold” rating in a report on Monday, May 25th. Morgan Stanley upped their price target on Baidu from $135.00 to $140.00 in a report on Tuesday, May 19th. Finally, Zacks Research downgraded Baidu from a “hold” rating to a “strong sell” rating in a report on Thursday, April 16th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $162.58.

About Baidu

Baidu, Inc, founded in 2000 and headquartered in Beijing, is a Chinese multinational technology company best known for operating one of China’s leading internet search engines. The company built its business around online search and related advertising services, providing search, content aggregation and targeted ad placements to consumers and marketers across China. Baidu went public on the NASDAQ in 2005 and has since diversified beyond search into a broader technology and AI-focused portfolio.

Core products and services include the Baidu search platform and mobile app, Baidu Maps and Baidu Baike (an online encyclopedia), along with digital content initiatives.