Wellington Management Group LLP Sells 7,255 Shares of Baidu, Inc. (NASDAQ:BIDU)

Wellington Management Group LLP cut its holdings in shares of Baidu, Inc. (NASDAQ:BIDU) by 6.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 113,363 shares of the information services provider’s stock after selling 7,255 shares during the period. Wellington Management Group LLP’s holdings in Baidu were worth $13,500,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BIDU. Bruce G. Allen Investments LLC bought a new position in Baidu during the fourth quarter worth about $25,000. Headinvest LLC bought a new position in Baidu during the third quarter worth about $36,000. FNY Investment Advisers LLC bought a new position in Baidu during the fourth quarter worth about $42,000. Pacific Capital Wealth Advisors Inc. bought a new position in Baidu during the fourth quarter worth about $48,000. Finally, Barometer Capital Management Inc. acquired a new stake in shares of Baidu in the 4th quarter valued at about $119,000.

Analysts Set New Price Targets

Several analysts have issued reports on BIDU shares. Morgan Stanley downgraded Baidu from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $140.00 to $125.00 in a research note on Friday, May 17th. Mizuho dropped their price target on Baidu from $140.00 to $130.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. Loop Capital dropped their price target on Baidu from $155.00 to $130.00 and set a “buy” rating on the stock in a research note on Friday, June 21st. HSBC dropped their price target on Baidu from $157.00 to $145.00 and set a “buy” rating on the stock in a research note on Wednesday, April 24th. Finally, StockNews.com downgraded Baidu from a “buy” rating to a “hold” rating in a research note on Friday, June 14th. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $156.64.

Baidu Price Performance

Shares of NASDAQ BIDU opened at $88.22 on Thursday. The business’s 50 day moving average price is $100.38 and its two-hundred day moving average price is $105.02. The company has a market cap of $30.93 billion, a PE ratio of 11.81 and a beta of 0.52. The company has a quick ratio of 2.79, a current ratio of 2.79 and a debt-to-equity ratio of 0.25. Baidu, Inc. has a twelve month low of $87.82 and a twelve month high of $156.98.

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.