Handelsbanken Fonder AB Reduces Holdings in Baidu, Inc. (NASDAQ:BIDU)

Handelsbanken Fonder AB cut its stake in shares of Baidu, Inc. (NASDAQ:BIDU) by 43.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 56,000 shares of the information services provider’s stock after selling 42,802 shares during the quarter. Handelsbanken Fonder AB’s holdings in Baidu were worth $5,154,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of BIDU. SG Americas Securities LLC raised its position in Baidu by 20.4% during the 1st quarter. SG Americas Securities LLC now owns 459,260 shares of the information services provider’s stock valued at $42,266,000 after purchasing an additional 77,804 shares during the last quarter. UMB Bank n.a. raised its position in Baidu by 80.3% during the 1st quarter. UMB Bank n.a. now owns 402 shares of the information services provider’s stock valued at $37,000 after purchasing an additional 179 shares during the last quarter. Prospect Financial Services LLC raised its position in Baidu by 139.5% during the 1st quarter. Prospect Financial Services LLC now owns 22,776 shares of the information services provider’s stock valued at $2,096,000 after purchasing an additional 13,266 shares during the last quarter. Intellectus Partners LLC raised its position in Baidu by 9.9% during the 1st quarter. Intellectus Partners LLC now owns 18,434 shares of the information services provider’s stock valued at $1,696,000 after purchasing an additional 1,661 shares during the last quarter. Finally, Fluent Financial LLC bought a new position in Baidu during the 1st quarter valued at approximately $1,870,000.

Baidu Stock Down 2.1%

BIDU stock opened at $86.00 on Friday. Baidu, Inc. has a twelve month low of $74.71 and a twelve month high of $116.25. The company has a quick ratio of 2.19, a current ratio of 2.09 and a debt-to-equity ratio of 0.19. The firm has a market cap of $29.71 billion, a PE ratio of 9.38, a price-to-earnings-growth ratio of 2.96 and a beta of 0.33. The business has a 50 day moving average of $86.08 and a 200 day moving average of $87.80.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on BIDU shares. Barclays set a $84.00 price target on Baidu and gave the company an “equal weight” rating in a research report on Thursday, May 22nd. Nomura Securities lowered Baidu from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Wall Street Zen lowered Baidu from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Macquarie reissued a “neutral” rating on shares of Baidu in a research report on Wednesday, May 21st. Finally, Citigroup decreased their target price on Baidu from $139.00 to $138.00 and set a “buy” rating for the company in a research report on Thursday, May 22nd. Twelve analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $107.82.

Baidu Company 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.