Baidu, Inc. (NASDAQ:BIDU) Shares Sold by Guinness Atkinson Asset Management Inc

Guinness Atkinson Asset Management Inc reduced its position in Baidu, Inc. (NASDAQ:BIDU) by 1.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,910 shares of the information services provider’s stock after selling 225 shares during the period. Guinness Atkinson Asset Management Inc’s holdings in Baidu were worth $1,004,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. grew its position in shares of Baidu by 11.1% during the second quarter. Envestnet Asset Management Inc. now owns 84,548 shares of the information services provider’s stock worth $7,312,000 after buying an additional 8,422 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Baidu by 1.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,344,309 shares of the information services provider’s stock worth $116,263,000 after acquiring an additional 14,878 shares in the last quarter. Pacer Advisors Inc. bought a new stake in shares of Baidu in the 2nd quarter worth about $1,796,000. Frank Rimerman Advisors LLC raised its stake in shares of Baidu by 150.1% in the 2nd quarter. Frank Rimerman Advisors LLC now owns 7,956 shares of the information services provider’s stock valued at $688,000 after purchasing an additional 4,775 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Baidu by 102.2% during the second quarter. EverSource Wealth Advisors LLC now owns 1,098 shares of the information services provider’s stock worth $97,000 after purchasing an additional 555 shares during the last quarter.

Baidu Price Performance

Shares of NASDAQ:BIDU opened at $82.92 on Monday. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 0.18. The firm’s 50 day moving average is $85.10 and its two-hundred day moving average is $89.02. The firm has a market capitalization of $29.08 billion, a P/E ratio of 10.15, a PEG ratio of 1.74 and a beta of 0.46. Baidu, Inc. has a 52 week low of $77.19 and a 52 week high of $116.25.

Analyst Upgrades and Downgrades

BIDU has been the subject of several research analyst reports. Citigroup lowered their price objective on Baidu from $142.00 to $141.00 and set a “buy” rating for the company in a report on Friday, November 29th. Benchmark dropped their price target on Baidu from $135.00 to $130.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. Dbs Bank downgraded shares of Baidu from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 3rd. China Renaissance cut shares of Baidu from a “buy” rating to a “hold” rating and set a $86.00 target price on the stock. in a report on Monday, November 25th. Finally, Barclays lowered shares of Baidu from an “overweight” rating to an “equal weight” rating in a report on Friday, November 22nd. Ten investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $113.75.

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.