Corient Private Wealth LLC Sells 7,091 Shares of Baidu, Inc. $BIDU

Corient Private Wealth LLC lowered its holdings in Baidu, Inc. (NASDAQ:BIDU) by 58.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 5,054 shares of the information services provider’s stock after selling 7,091 shares during the period. Corient Private Wealth LLC’s holdings in Baidu were worth $660,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the business. Binnacle Investments Inc bought a new position in Baidu during the second quarter worth $29,000. Sankala Group LLC acquired a new stake in Baidu in the 4th quarter worth $46,000. Brown Brothers Harriman & Co. grew its position in Baidu by 35.0% in the 4th quarter. Brown Brothers Harriman & Co. now owns 405 shares of the information services provider’s stock worth $53,000 after purchasing an additional 105 shares during the last quarter. UMB Bank n.a. increased its holdings in shares of Baidu by 25.9% during the 4th quarter. UMB Bank n.a. now owns 428 shares of the information services provider’s stock worth $56,000 after purchasing an additional 88 shares during the period. Finally, Winthrop Capital Management LLC bought a new position in shares of Baidu during the 4th quarter worth about $59,000.

Baidu Stock Performance

NASDAQ:BIDU opened at $113.30 on Friday. Baidu, Inc. has a 12-month low of $84.64 and a 12-month high of $165.30. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $38.55 billion, a PE ratio of -944.09, a price-to-earnings-growth ratio of 1.93 and a beta of 0.56. The firm has a 50-day moving average price of $125.14 and a 200 day moving average price of $128.82.

Wall Street Analyst Weigh In

BIDU has been the subject of several research reports. Wall Street Zen upgraded shares of Baidu from a “sell” rating to a “hold” rating in a research note on Monday, May 25th. Benchmark restated a “buy” rating and set a $215.00 price target on shares of Baidu in a research note on Tuesday, May 19th. Citigroup reaffirmed a “buy” rating on shares of Baidu in a report on Tuesday, June 23rd. Nomura raised their price objective on Baidu from $186.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday, May 20th. Finally, Morgan Stanley lifted their price objective on Baidu from $135.00 to $140.00 in a report on Tuesday, May 19th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $162.58.

Baidu Profile

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.