Guggenheim Capital LLC Decreases Stock Holdings in Baidu, Inc. (NASDAQ:BIDU)

Guggenheim Capital LLC lessened its stake in Baidu, Inc. (NASDAQ:BIDU) by 6.0% in the fourth quarter, HoldingsChannel reports. The firm owned 7,989 shares of the information services provider’s stock after selling 509 shares during the period. Guggenheim Capital LLC’s holdings in Baidu were worth $674,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Rialto Wealth Management LLC bought a new stake in shares of Baidu in the fourth quarter worth $42,000. Sycomore Asset Management purchased a new position in Baidu in the fourth quarter worth about $51,000. World Investment Advisors LLC bought a new stake in shares of Baidu during the 3rd quarter valued at about $72,000. Denver PWM LLC increased its position in shares of Baidu by 28.5% during the 3rd 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 during the last quarter. Finally, Retireful LLC bought a new position in shares of Baidu in the 4th quarter worth approximately $205,000.

Analyst Ratings Changes

A number of brokerages have commented on BIDU. Benchmark reaffirmed a “buy” rating and set a $130.00 target price on shares of Baidu in a report on Wednesday, February 19th. Sanford C. Bernstein reiterated a “market perform” rating on shares of Baidu in a research report on Saturday, March 8th. Nomura Securities lowered Baidu from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 19th. StockNews.com downgraded Baidu from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Finally, Mizuho boosted their price objective on Baidu from $95.00 to $105.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Thirteen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $110.83.

Baidu Stock Performance

NASDAQ BIDU opened at $89.50 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.09 and a quick ratio of 2.19. Baidu, Inc. has a 1-year low of $74.71 and a 1-year high of $116.25. The business has a 50 day simple moving average of $89.15 and a two-hundred day simple moving average of $88.71. The stock has a market capitalization of $31.38 billion, a PE ratio of 9.76, a P/E/G ratio of 2.96 and a beta of 0.33.

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.