Morningstar Investment Services LLC Trims Holdings in Baidu Inc (NASDAQ:BIDU)

Morningstar Investment Services LLC cut its holdings in Baidu Inc (NASDAQ:BIDU) by 61.6% during the second quarter, Holdings Channel reports. The institutional investor owned 80,079 shares of the information services provider’s stock after selling 128,209 shares during the quarter. Morningstar Investment Services LLC’s holdings in Baidu were worth $9,713,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Ballast Advisors LLC bought a new position in Baidu in the 1st quarter worth about $35,000. Creative Financial Designs Inc. ADV bought a new position in Baidu in the 2nd quarter worth about $42,000. Sugarloaf Wealth Management LLC boosted its stake in Baidu by 179.1% in the 1st quarter. Sugarloaf Wealth Management LLC now owns 360 shares of the information services provider’s stock worth $36,000 after purchasing an additional 231 shares in the last quarter. Synovus Financial Corp boosted its stake in Baidu by 152.1% in the 1st quarter. Synovus Financial Corp now owns 363 shares of the information services provider’s stock worth $36,000 after purchasing an additional 219 shares in the last quarter. Finally, Contravisory Investment Management Inc. bought a new position in Baidu during the 2nd quarter valued at about $48,000. Institutional investors own 53.18% of the company’s stock.

Several equities analysts have issued reports on the stock. Barclays lowered their target price on shares of Baidu from $150.00 to $132.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 22nd. BOCOM International upgraded shares of Baidu from a “neutral” rating to a “buy” rating in a research note on Tuesday, May 19th. KeyCorp lowered their target price on shares of Baidu from $147.00 to $145.00 and set an “overweight” rating on the stock in a research note on Friday. Oppenheimer restated a “buy” rating and set a $155.00 target price on shares of Baidu in a research note on Monday, April 27th. Finally, Citigroup lowered their target price on shares of Baidu from $189.00 to $178.00 and set a “buy” rating on the stock in a research note on Monday, April 27th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and sixteen have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $143.21.

Baidu stock traded up $1.40 during midday trading on Friday, hitting $119.40. The stock had a trading volume of 2,753,813 shares, compared to its average volume of 3,045,263. The firm’s fifty day moving average is $122.79 and its two-hundred day moving average is $115.04. The company has a market capitalization of $41.29 billion, a PE ratio of 118.22, a P/E/G ratio of 5.25 and a beta of 1.45. Baidu Inc has a 52-week low of $82.00 and a 52-week high of $147.38. The company has a current ratio of 2.95, a quick ratio of 2.95 and a debt-to-equity ratio of 0.35.

Baidu Company Profile

Baidu, Inc provides Internet search services in China and internationally. It operates through two segments, Baidu Core and iQIYI. The Baidu Core segment offers products for uses, including Baidu App to access search, feed, and other services using mobile devices; Baidu Search to access its search and other services through its other properties and Union partners; Baidu Feed that provides users with personalized timeline based on their demographics and interests; Haokan, a short video app; and Quanmin, a flash video app for users to create and share short videos.

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Institutional Ownership by Quarter for Baidu (NASDAQ:BIDU)

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