Federated Hermes Inc. Trims Stake in Baidu, Inc. $BIDU

Federated Hermes Inc. lessened its holdings in Baidu, Inc. (NASDAQ:BIDU) by 24.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 845,595 shares of the information services provider’s stock after selling 272,830 shares during the period. Federated Hermes Inc. owned approximately 0.24% of Baidu worth $72,518,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BIDU. Primecap Management Co. CA lifted its position in Baidu by 1.4% in the second quarter. Primecap Management Co. CA now owns 12,116,750 shares of the information services provider’s stock valued at $1,039,132,000 after buying an additional 170,414 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Baidu by 0.9% during 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 1st 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 period. Kingstone Capital Partners Texas LLC acquired a new position in shares of Baidu in the 2nd quarter worth approximately $80,618,000. Finally, Mondrian Investment Partners LTD boosted its position in shares of Baidu by 41.7% during the 1st quarter. Mondrian Investment Partners LTD now owns 777,534 shares of the information services provider’s stock worth $71,556,000 after purchasing an additional 228,623 shares during the period.

Baidu Trading Up 5.8%

BIDU opened at $125.66 on Monday. The business has a fifty day moving average price of $124.11 and a 200 day moving average price of $104.55. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.91 and a quick ratio of 1.91. Baidu, Inc. has a 12 month low of $74.71 and a 12 month high of $149.51. The stock has a market capitalization of $43.41 billion, a price-to-earnings ratio of 41.75 and a beta of 0.44.

Analysts Set New Price Targets

A number of analysts have issued reports on BIDU shares. Wall Street Zen raised Baidu from a “sell” rating to a “hold” rating in a research report on Saturday, November 22nd. National Bankshares raised Baidu to an “outperform” rating in a research note on Monday, November 24th. Macquarie raised Baidu from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $91.00 to $176.00 in a research note on Friday, October 10th. Daiwa Capital Markets set a $160.00 target price on Baidu and gave the company a “buy” rating in a research report on Tuesday, October 14th. Finally, JPMorgan Chase & Co. raised shares of Baidu from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $110.00 to $188.00 in a research report on Monday, November 24th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $146.11.

Baidu Company 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.