International Assets Investment Management LLC Sells 1,054,708 Shares of Baidu, Inc. (NASDAQ:BIDU)

International Assets Investment Management LLC decreased its holdings in shares of Baidu, Inc. (NASDAQ:BIDU) by 98.5% in the fourth quarter, HoldingsChannel reports. The fund owned 15,986 shares of the information services provider’s stock after selling 1,054,708 shares during the quarter. International Assets Investment Management LLC’s holdings in Baidu were worth $1,322,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of BIDU. Primecap Management Co. CA boosted its position in shares of Baidu by 17.2% in the second quarter. Primecap Management Co. CA now owns 11,947,706 shares of the information services provider’s stock worth $1,033,238,000 after purchasing an additional 1,753,577 shares during the period. Maple Rock Capital Partners Inc. purchased a new position in shares of Baidu during the 3rd quarter valued at $42,748,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Baidu in the 3rd quarter worth $36,272,000. Hhlr Advisors LTD. purchased a new stake in Baidu in the 3rd quarter worth $31,587,000. Finally, DekaBank Deutsche Girozentrale raised its holdings in Baidu by 103.1% during the second quarter. DekaBank Deutsche Girozentrale now owns 582,475 shares of the information services provider’s stock valued at $51,192,000 after acquiring an additional 295,700 shares during the period.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Mizuho cut their target price on Baidu from $130.00 to $115.00 and set an “outperform” rating for the company in a research report on Tuesday, November 12th. StockNews.com raised shares of Baidu from a “hold” rating to a “buy” rating in a report on Friday, December 27th. Hsbc Global Res cut shares of Baidu from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th. China Renaissance lowered shares of Baidu from a “buy” rating to a “hold” rating and set a $86.00 target price for the company. in a research report on Monday, November 25th. Finally, Susquehanna downgraded shares of Baidu from a “positive” rating to a “neutral” rating and reduced their price target for the company from $105.00 to $85.00 in a report on Monday, November 25th. Ten equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Baidu presently has a consensus rating of “Hold” and an average target price of $113.75.

Baidu Trading Down 1.5 %

BIDU opened at $81.34 on Thursday. The stock has a 50-day moving average of $86.61 and a 200 day moving average of $89.38. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 0.18. Baidu, Inc. has a 12 month low of $78.95 and a 12 month high of $117.64. The firm has a market cap of $28.52 billion, a P/E ratio of 9.96, a P/E/G ratio of 1.19 and a beta of 0.46.

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.