Cetera Investment Advisers Sells 12,021 Shares of Baidu, Inc. (NASDAQ:BIDU)

Cetera Investment Advisers trimmed its position in Baidu, Inc. (NASDAQ:BIDU) by 33.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,783 shares of the information services provider’s stock after selling 12,021 shares during the quarter. Cetera Investment Advisers’ holdings in Baidu were worth $2,005,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in BIDU. Rialto Wealth Management LLC bought a new position in Baidu in the fourth quarter valued at about $42,000. Sycomore Asset Management acquired a new position in shares of Baidu during the fourth quarter worth $51,000. GeoWealth Management LLC lifted its holdings in shares of Baidu by 88.5% during the fourth quarter. GeoWealth Management LLC now owns 656 shares of the information services provider’s stock worth $55,000 after purchasing an additional 308 shares during the period. Savvy Advisors Inc. acquired a new position in shares of Baidu during the fourth quarter worth $232,000. Finally, Atomi Financial Group Inc. lifted its holdings in shares of Baidu by 45.8% during the fourth quarter. Atomi Financial Group Inc. now owns 3,026 shares of the information services provider’s stock worth $255,000 after purchasing an additional 950 shares during the period.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on BIDU. Daiwa Capital Markets reiterated an “outperform” rating on shares of Baidu in a report on Tuesday, February 18th. Nomura Securities lowered shares of Baidu from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 19th. Sanford C. Bernstein reiterated a “market perform” rating on shares of Baidu in a report on Saturday, March 8th. Barclays cut their price target on shares of Baidu from $95.00 to $90.00 and set an “equal weight” rating on the stock in a report on Monday, April 21st. Finally, Mizuho boosted their target price on shares of Baidu from $95.00 to $105.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Eleven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Baidu currently has an average rating of “Hold” and an average target price of $109.55.

Baidu Price Performance

Shares of NASDAQ BIDU opened at $89.25 on Tuesday. The firm’s 50-day moving average price is $88.96 and its 200-day moving average price is $87.97. Baidu, Inc. has a 1-year low of $74.71 and a 1-year high of $116.25. The firm has a market capitalization of $30.83 billion, a P/E ratio of 9.73, a P/E/G ratio of 2.96 and a beta of 0.37. The company has a current ratio of 2.09, a quick ratio of 2.19 and a debt-to-equity ratio of 0.19.

About Baidu

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.