ANTIPODES PARTNERS Ltd Sells 466,121 Shares of Baidu, Inc. (NASDAQ:BIDU)

ANTIPODES PARTNERS Ltd cut its holdings in shares of Baidu, Inc. (NASDAQ:BIDU) by 43.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 615,732 shares of the information services provider’s stock after selling 466,121 shares during the period. Baidu makes up 1.9% of ANTIPODES PARTNERS Ltd’s holdings, making the stock its 27th biggest holding. ANTIPODES PARTNERS Ltd owned 0.18% of Baidu worth $53,249,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. ARGA Investment Management LP boosted its stake in Baidu by 6.5% in the first quarter. ARGA Investment Management LP now owns 1,022,883 shares of the information services provider’s stock valued at $107,689,000 after acquiring an additional 62,830 shares during the last quarter. Canada Pension Plan Investment Board increased its holdings in shares of Baidu by 49.7% in the 1st quarter. Canada Pension Plan Investment Board now owns 1,018,685 shares of the information services provider’s stock worth $107,247,000 after buying an additional 338,110 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Baidu by 9.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,017,341 shares of the information services provider’s stock worth $107,107,000 after buying an additional 84,776 shares during the last quarter. Sanders Capital LLC increased its holdings in shares of Baidu by 7.1% in the 4th quarter. Sanders Capital LLC now owns 670,604 shares of the information services provider’s stock worth $79,862,000 after buying an additional 44,571 shares during the last quarter. Finally, Contrarius Investment Management Ltd grew its holdings in shares of Baidu by 14.2% during the 4th quarter. Contrarius Investment Management Ltd now owns 587,487 shares of the information services provider’s stock valued at $69,964,000 after purchasing an additional 72,825 shares during the last quarter.

Analysts Set New Price Targets

Several research firms recently commented on BIDU. Sanford C. Bernstein lowered shares of Baidu from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $130.00 to $97.00 in a report on Friday, August 23rd. Bank of America dropped their price target on shares of Baidu from $128.00 to $117.00 and set a “buy” rating for the company in a research report on Friday, August 23rd. Benchmark dropped their price target on shares of Baidu from $180.00 to $135.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Macquarie cut shares of Baidu from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 17th. Finally, Jefferies Financial Group dropped their price target on shares of Baidu from $174.00 to $139.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, Baidu presently has a consensus rating of “Moderate Buy” and an average price target of $135.13.

Baidu Stock Up 0.5 %

Shares of Baidu stock opened at $82.81 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.32 and a quick ratio of 2.32. The company has a 50-day moving average of $88.00 and a 200 day moving average of $97.00. The firm has a market cap of $29.04 billion, a price-to-earnings ratio of 11.09 and a beta of 0.48. Baidu, Inc. has a 1 year low of $79.68 and a 1 year high of $144.63.

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.