Dodge & Cox Sells 1,023,300 Shares of Baidu, Inc. $BIDU

Dodge & Cox trimmed its position in shares of Baidu, Inc. (NASDAQ:BIDU) by 18.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 4,404,415 shares of the information services provider’s stock after selling 1,023,300 shares during the quarter. Dodge & Cox owned about 1.27% of Baidu worth $580,370,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Binnacle Investments Inc bought a new position in shares of Baidu in the second quarter worth approximately $29,000. Mizuho Securities Co. Ltd. bought a new stake in shares of Baidu during the second quarter valued at approximately $43,000. UMB Bank n.a. raised its holdings in Baidu by 65.0% in the 3rd quarter. UMB Bank n.a. now owns 340 shares of the information services provider’s stock worth $45,000 after acquiring an additional 134 shares during the last quarter. Ameritas Advisory Services LLC raised its holdings in Baidu by 12,400.0% in the 3rd quarter. Ameritas Advisory Services LLC now owns 375 shares of the information services provider’s stock worth $49,000 after acquiring an additional 372 shares during the last quarter. Finally, Mondrian Investment Partners LTD bought a new position in Baidu in the 3rd quarter valued at approximately $80,000.

Analysts Set New Price Targets

BIDU has been the topic of several recent analyst reports. National Bank Financial upgraded Baidu to an “outperform” rating in a research note on Monday, November 24th. Susquehanna boosted their price target on Baidu from $110.00 to $120.00 and gave the stock a “neutral” rating in a research note on Thursday, March 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Baidu in a report on Monday, December 29th. Zacks Research downgraded Baidu from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 17th. Finally, Jefferies Financial Group boosted their target price on Baidu from $159.00 to $181.00 and gave the stock a “buy” rating in a research report on Friday, January 2nd. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Baidu has an average rating of “Moderate Buy” and a consensus price target of $157.89.

Baidu Trading Up 0.7%

NASDAQ:BIDU opened at $124.07 on Friday. The company has a market cap of $42.86 billion, a PE ratio of 78.03 and a beta of 0.32. The company has a current ratio of 1.76, a quick ratio of 1.91 and a debt-to-equity ratio of 0.22. The company has a 50 day simple moving average of $140.63 and a two-hundred day simple moving average of $128.34. Baidu, Inc. has a 12 month low of $74.71 and a 12 month high of $165.30.

About Baidu

Baidu, Inc, founded in 2000 and headquartered in Beijing, is a Chinese multinational technology company best known for operating one of China’s leading internet search engines. The company built its business around online search and related advertising services, providing search, content aggregation and targeted ad placements to consumers and marketers across China. Baidu went public on the NASDAQ in 2005 and has since diversified beyond search into a broader technology and AI-focused portfolio.

Core products and services include the Baidu search platform and mobile app, Baidu Maps and Baidu Baike (an online encyclopedia), along with digital content initiatives.