Daiwa Securities Reduces Stake in Baidu, Inc.

In the third quarter, Daiwa Securities Group Inc. significantly reduced its stake in Baidu, Inc. (NASDAQ:BIDU – Free Report) by 38.0%. This information comes from the company's latest filing with the Securities and Exchange Commission. Following the reduction, Daiwa now owns 4,500 shares of Baidu after divesting 2,763 shares during this period. Consequently, the value of Daiwa Securities Group Inc.’s holdings in Baidu stood at approximately $474,000 by the end of the most recent reporting period.

Alongside Daiwa, several other institutional investors have also adjusted their positions in Baidu. For instance, during the second quarter, iA Global Asset Management Inc. acquired a new position in Baidu worth $52,000. In the third quarter, Allspring Global Investments Holdings LLC raised its holdings by an impressive 630.9%, now owning 687 shares valued at $72,000, a 593-share increase since the last quarter. Additionally, Grove Bank & Trust augmented its position by 21.6%, owning 731 shares now valued at $77,000 after acquiring an additional 130 shares. Denver PWM LLC also initiated a new stake in Baidu during the second quarter with a valuation of around $67,000. Lastly, EverSource Wealth Advisors LLC increased its position in Baidu by 102.2% during the second quarter, bringing its total to 1,098 shares valued at $97,000 after purchasing 555 additional shares.

Performance of Baidu Stock

Baidu's stock opened at $85.05 on the last trading day. The company has shown a 52-week low of $78.95 and a high of $120.25. Financial metrics indicate Baidu has a debt-to-equity ratio of 0.18, as well as a quick ratio and current ratio both at 2.19. As of the current period, Baidu has a market capitalization of $29.82 billion, a price-to-earnings ratio of 10.41, and a PEG ratio of 1.11, alongside a beta of 0.51. The average stock prices over the last fifty days stand at $93.57, while the two-hundred-day average is $91.63.

Analyst Ratings and Forecasts

Recent reports from analysts show a mix of ratings on Baidu's stock. For instance, China Renaissance recently downgraded Baidu from a "buy" to a "hold" with a target price of $86.00. Similarly, JPMorgan Chase & Co. lowered its rating from "overweight" to "neutral." Conversely, StockNews.com upgraded Baidu from a "hold" to a "buy" rating. Jefferies Financial Group adjusted its price objective from $174.00 to $139.00 with a "buy" rating, while Mizuho decreased its target from $130.00 to $115.00 and classified the company as an "outperformer." In total, ten analysts have rated Baidu with a hold designation, while seven assigned a buy rating. MarketBeat's consensus indicates Baidu holds an average rating of "Hold" with a target price of $113.75.

About Baidu, Inc.

Baidu, Inc. is a leading provider of internet search services in China. It operates primarily through two segments: Baidu Core and iQIYI. The company offers various services including the Baidu App for mobile access to search functions, Baidu Search for accessing its primary search features, Baidu Feed which tailors user experiences based on personal interests, Baidu Health that connects users with healthcare professionals, and Haokan, a short video application.

Baidu, Investment, Finance