Wealth Enhancement Advisory Services LLC Sells 1,466 Shares of Baidu, Inc. (NASDAQ:BIDU)

Wealth Enhancement Advisory Services LLC lowered its stake in Baidu, Inc. (NASDAQ:BIDU) by 33.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,862 shares of the information services provider’s stock after selling 1,466 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Baidu were worth $241,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Rialto Wealth Management LLC bought a new position in Baidu in the fourth quarter valued at approximately $42,000. GeoWealth Management LLC lifted its stake in Baidu by 88.5% in the fourth quarter. GeoWealth Management LLC now owns 656 shares of the information services provider’s stock valued at $55,000 after buying an additional 308 shares in the last quarter. Savvy Advisors Inc. bought a new position in Baidu in the fourth quarter valued at approximately $232,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in Baidu in the fourth quarter valued at approximately $256,000. Finally, Vise Technologies Inc. bought a new position in Baidu in the fourth quarter valued at approximately $265,000.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on BIDU shares. Macquarie reaffirmed a “neutral” rating on shares of Baidu in a research note on Wednesday, May 21st. Mizuho lifted their price target on shares of Baidu from $95.00 to $105.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Sanford C. Bernstein reissued a “market perform” rating on shares of Baidu in a research report on Saturday, March 8th. Wall Street Zen lowered shares of Baidu from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Finally, Nomura Securities lowered shares of Baidu from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Twelve equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $107.82.

Baidu Price Performance

NASDAQ:BIDU opened at $87.25 on Tuesday. Baidu, Inc. has a one year low of $74.71 and a one year high of $116.25. The company has a market cap of $30.14 billion, a P/E ratio of 9.51, a P/E/G ratio of 2.96 and a beta of 0.33. The firm’s fifty day moving average price is $86.29 and its two-hundred day moving average price is $87.86. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.09 and a quick ratio of 2.19.

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.