Baidu, Inc. $BIDU Stock Holdings Lessened by QRG Capital Management Inc.

QRG Capital Management Inc. lowered its stake in Baidu, Inc. (NASDAQ:BIDU) by 13.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,652 shares of the information services provider’s stock after selling 557 shares during the period. QRG Capital Management Inc.’s holdings in Baidu were worth $313,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of BIDU. Creekmur Asset Management LLC bought a new position in shares of Baidu in the first quarter valued at $29,000. Assetmark Inc. grew its position in Baidu by 143.3% during the 1st quarter. Assetmark Inc. now owns 326 shares of the information services provider’s stock worth $30,000 after purchasing an additional 192 shares in the last quarter. UMB Bank n.a. grew its position in Baidu by 80.3% during the 1st quarter. UMB Bank n.a. now owns 402 shares of the information services provider’s stock worth $37,000 after purchasing an additional 179 shares in the last quarter. CX Institutional purchased a new position in Baidu during the 1st quarter worth approximately $49,000. Finally, Parallel Advisors LLC grew its position in Baidu by 17.0% during the 2nd quarter. Parallel Advisors LLC now owns 935 shares of the information services provider’s stock worth $80,000 after purchasing an additional 136 shares in the last quarter.

Analysts Set New Price Targets

Several equities analysts have weighed in on BIDU shares. Macquarie upgraded shares of Baidu from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $91.00 to $176.00 in a research report on Friday. Wall Street Zen upgraded shares of Baidu from a “sell” rating to a “hold” rating in a research report on Saturday. Weiss Ratings reiterated a “hold (c)” rating on shares of Baidu in a research report on Wednesday. Citigroup lifted their price objective on shares of Baidu from $138.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, July 17th. Finally, Benchmark lowered their price target on shares of Baidu from $120.00 to $115.00 and set a “buy” rating on the stock in a report on Thursday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $126.54.

Baidu Trading Down 8.1%

Baidu stock opened at $121.69 on Friday. The company’s fifty day simple moving average is $109.86 and its 200-day simple moving average is $94.85. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.19. Baidu, Inc. has a 12 month low of $74.71 and a 12 month high of $149.51. The stock has a market cap of $42.04 billion, a P/E ratio of 11.22 and a beta of 0.42.

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.