Baidu, Inc. (NASDAQ:BIDU) Shares Sold by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P cut its holdings in shares of Baidu, Inc. (NASDAQ:BIDU) by 3.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 257,581 shares of the information services provider’s stock after selling 8,442 shares during the period. Loomis Sayles & Co. L P’s holdings in Baidu were worth $27,121,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. iA Global Asset Management Inc. acquired a new stake in shares of Baidu during the 2nd quarter valued at $52,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Baidu by 630.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 687 shares of the information services provider’s stock valued at $72,000 after purchasing an additional 593 shares during the last quarter. Grove Bank & Trust boosted its position in shares of Baidu by 21.6% in the 3rd quarter. Grove Bank & Trust now owns 731 shares of the information services provider’s stock valued at $77,000 after purchasing an additional 130 shares during the period. Denver PWM LLC purchased a new position in Baidu in the 2nd quarter worth about $67,000. Finally, EverSource Wealth Advisors LLC raised its holdings in Baidu by 102.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,098 shares of the information services provider’s stock worth $97,000 after buying an additional 555 shares during the period.

Wall Street Analyst Weigh In

Several brokerages have commented on BIDU. Barclays cut shares of Baidu from an “overweight” rating to an “equal weight” rating in a report on Friday. Benchmark decreased their price objective on shares of Baidu from $135.00 to $130.00 and set a “buy” rating for the company in a research note on Friday. Mizuho cut their target price on shares of Baidu from $130.00 to $115.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 12th. Bank of America decreased their target price on Baidu from $128.00 to $117.00 and set a “buy” rating for the company in a research report on Friday, August 23rd. Finally, Sanford C. Bernstein lowered Baidu from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $130.00 to $97.00 in a research report on Friday, August 23rd. Ten analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $114.92.

Baidu Trading Up 2.9 %

NASDAQ:BIDU opened at $82.67 on Tuesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.19 and a current ratio of 2.19. The company has a market capitalization of $28.99 billion, a P/E ratio of 10.12, a P/E/G ratio of 1.03 and a beta of 0.51. The stock’s 50 day moving average price is $93.67 and its 200 day moving average price is $92.22. Baidu, Inc. has a 52 week low of $78.95 and a 52 week high of $126.23.

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.