Mirae Asset Global Investments Co. Ltd. Lowers Holdings in Baidu, Inc. (NASDAQ:BIDU)

Mirae Asset Global Investments Co. Ltd. lowered its stake in Baidu, Inc. (NASDAQ:BIDU) by 22.2% during the first quarter, Holdings Channel.com reports. The fund owned 203,671 shares of the information services provider’s stock after selling 57,991 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Baidu were worth $21,442,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Bruce G. Allen Investments LLC purchased a new position in Baidu in the 4th quarter valued at approximately $25,000. Newbridge Financial Services Group Inc. purchased a new position in shares of Baidu during the 1st quarter worth approximately $32,000. Headinvest LLC acquired a new stake in shares of Baidu during the 3rd quarter worth about $36,000. FNY Investment Advisers LLC acquired a new stake in Baidu in the 4th quarter worth about $42,000. Finally, Pacific Capital Wealth Advisors Inc. acquired a new position in shares of Baidu in the 4th quarter valued at about $48,000.

Analysts Set New Price Targets

A number of analysts recently issued reports on BIDU shares. Mizuho dropped their price target on shares of Baidu from $140.00 to $130.00 and set a “buy” rating for the company in a research note on Friday, May 10th. Citigroup reduced their price objective on shares of Baidu from $181.00 to $176.00 and set a “buy” rating for the company in a research note on Tuesday, April 9th. Loop Capital cut their price objective on Baidu from $155.00 to $130.00 and set a “buy” rating for the company in a report on Friday, June 21st. HSBC dropped their price target on shares of Baidu from $157.00 to $145.00 and set a “buy” rating on the stock in a research report on Wednesday, April 24th. Finally, Macquarie cut Baidu from a “strong-buy” rating to a “hold” rating in a report on Friday, May 17th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $156.64.

Baidu Trading Down 1.2 %

Shares of BIDU traded down $1.09 during trading hours on Friday, reaching $88.97. 2,226,436 shares of the company traded hands, compared to its average volume of 2,505,468. Baidu, Inc. has a 12 month low of $85.08 and a 12 month high of $156.98. The company’s fifty day moving average price is $98.86 and its two-hundred day moving average price is $103.74. The company has a quick ratio of 2.79, a current ratio of 2.79 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $31.20 billion, a price-to-earnings ratio of 11.91 and a beta of 0.49.

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.