Cohen Capital Management Inc. Sells 4,529 Shares of Baidu, Inc. (NASDAQ:BIDU)

Cohen Capital Management Inc. lowered its holdings in Baidu, Inc. (NASDAQ:BIDU) by 35.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,232 shares of the information services provider’s stock after selling 4,529 shares during the quarter. Cohen Capital Management Inc.’s holdings in Baidu were worth $694,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of BIDU. Sycomore Asset Management bought a new position in Baidu in the fourth quarter worth approximately $51,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Baidu by 630.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 687 shares of the information services provider’s stock valued at $72,000 after acquiring an additional 593 shares during the period. World Investment Advisors LLC bought a new position in shares of Baidu in the 3rd quarter worth $72,000. Transamerica Financial Advisors Inc. purchased a new stake in shares of Baidu during the 3rd quarter worth $82,000. Finally, Denver PWM LLC boosted its position in Baidu by 28.5% during the third quarter. Denver PWM LLC now owns 991 shares of the information services provider’s stock valued at $104,000 after purchasing an additional 220 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Susquehanna downgraded shares of Baidu from a “positive” rating to a “neutral” rating and reduced their target price for the stock from $105.00 to $85.00 in a report on Monday, November 25th. Benchmark reiterated a “buy” rating and set a $130.00 price objective on shares of Baidu in a research note on Wednesday. Citigroup lowered their target price on shares of Baidu from $142.00 to $141.00 and set a “buy” rating for the company in a research note on Friday, November 29th. Barclays upped their price target on Baidu from $83.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 11th. Finally, Nomura cut Baidu from a “buy” rating to a “neutral” rating in a research report on Wednesday. Thirteen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Baidu currently has a consensus rating of “Hold” and an average price target of $111.25.

Baidu Stock Up 1.7 %

Shares of BIDU stock opened at $91.19 on Friday. Baidu, Inc. has a fifty-two week low of $77.19 and a fifty-two week high of $116.25. The firm has a market capitalization of $31.97 billion, a PE ratio of 9.94, a P/E/G ratio of 2.91 and a beta of 0.46. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.19 and a current ratio of 2.09. The stock’s 50-day simple moving average is $87.08 and its 200-day simple moving average is $88.93.

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.