Fisher Asset Management LLC Trims Position in Baidu, Inc. (NASDAQ:BIDU)

Fisher Asset Management LLC lowered its stake in shares of Baidu, Inc. (NASDAQ:BIDU) by 32.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,866 shares of the information services provider’s stock after selling 6,179 shares during the quarter. Fisher Asset Management LLC’s holdings in Baidu were worth $1,355,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Primecap Management Co. CA lifted its position in Baidu by 17.2% during the 2nd quarter. Primecap Management Co. CA now owns 11,947,706 shares of the information services provider’s stock worth $1,033,238,000 after acquiring an additional 1,753,577 shares during the period. International Assets Investment Management LLC grew its position in Baidu by 12,065.6% in the 3rd quarter. International Assets Investment Management LLC now owns 1,070,694 shares of the information services provider’s stock valued at $1,127,330,000 after buying an additional 1,061,893 shares during the last quarter. DekaBank Deutsche Girozentrale increased its stake in Baidu by 103.1% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 582,475 shares of the information services provider’s stock valued at $51,192,000 after buying an additional 295,700 shares during the period. XY Capital Ltd purchased a new position in Baidu during the 2nd quarter worth $23,880,000. Finally, Shah Capital Management acquired a new stake in shares of Baidu in the 2nd quarter worth $14,269,000.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Sanford C. Bernstein cut shares of Baidu from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $130.00 to $97.00 in a report on Friday, August 23rd. JPMorgan Chase & Co. cut Baidu from an “overweight” rating to a “neutral” rating in a report on Wednesday. Bank of America dropped their price objective on Baidu from $128.00 to $117.00 and set a “buy” rating on the stock in a report on Friday, August 23rd. Dbs Bank cut shares of Baidu from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 3rd. Finally, China Renaissance cut shares of Baidu from a “buy” rating to a “hold” rating and set a $86.00 price objective for the company. in a research note on Monday, November 25th. Ten equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $113.75.

Baidu Price Performance

Shares of NASDAQ:BIDU opened at $85.05 on Friday. Baidu, Inc. has a one year low of $78.95 and a one year high of $120.25. The stock has a market cap of $29.82 billion, a PE ratio of 10.41, a price-to-earnings-growth ratio of 1.11 and a beta of 0.51. The business’s fifty day moving average price is $93.57 and its two-hundred day moving average price is $91.75. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.19 and a current 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.