Truist Financial Corp Sells 193 Shares of Baidu, Inc. $BIDU

Truist Financial Corp decreased its holdings in shares of Baidu, Inc. (NASDAQ:BIDU) by 7.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,508 shares of the information services provider’s stock after selling 193 shares during the period. Truist Financial Corp’s holdings in Baidu were worth $215,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Baidu by 1,377.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,324,728 shares of the information services provider’s stock valued at $490,035,000 after acquiring an additional 4,964,350 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Baidu by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 1,361,973 shares of the information services provider’s stock valued at $125,338,000 after acquiring an additional 11,658 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Baidu by 2.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,037,626 shares of the information services provider’s stock valued at $95,494,000 after acquiring an additional 25,834 shares during the last quarter. Kingstone Capital Partners Texas LLC bought a new position in shares of Baidu in the second quarter valued at approximately $80,618,000. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Baidu by 319.9% in the first quarter. Massachusetts Financial Services Co. MA now owns 807,322 shares of the information services provider’s stock valued at $74,298,000 after acquiring an additional 615,061 shares during the last quarter.

Baidu Price Performance

BIDU opened at $120.01 on Friday. The company has a fifty day moving average price of $113.32 and a two-hundred day moving average price of $95.82. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.85 and a current ratio of 1.85. Baidu, Inc. has a 52 week low of $74.71 and a 52 week high of $149.51. The firm has a market capitalization of $41.46 billion, a PE ratio of 11.06 and a beta of 0.42.

Wall Street Analysts Forecast Growth

BIDU has been the subject of a number of research analyst reports. Nomura lifted their target price on shares of Baidu from $91.00 to $135.00 and gave the company a “neutral” rating in a research note on Monday, September 22nd. Arete Research upgraded shares of Baidu from a “sell” rating to a “buy” rating and set a $143.00 target price for the company in a research note on Tuesday, September 16th. Jefferies Financial Group boosted their price objective on shares of Baidu from $108.00 to $157.00 and gave the stock a “buy” rating in a research report on Wednesday, September 17th. Zacks Research upgraded shares of Baidu from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 16th. Finally, Citigroup restated a “buy” rating on shares of Baidu in a research report on Monday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $128.93.

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.