Handelsbanken Fonder AB Sells 42,802 Shares of Baidu, Inc. (NASDAQ:BIDU)

Handelsbanken Fonder AB lessened its stake in shares of Baidu, Inc. (NASDAQ:BIDU) by 43.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 56,000 shares of the information services provider’s stock after selling 42,802 shares during the period. Handelsbanken Fonder AB’s holdings in Baidu were worth $5,154,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. SG Americas Securities LLC increased 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 buying an additional 77,804 shares in the last quarter. UMB Bank n.a. increased its holdings in shares of Baidu by 80.3% in the 1st quarter. UMB Bank n.a. now owns 402 shares of the information services provider’s stock worth $37,000 after purchasing an additional 179 shares in the last quarter. Prospect Financial Services LLC increased its holdings in shares of Baidu by 139.5% in the 1st quarter. Prospect Financial Services LLC now owns 22,776 shares of the information services provider’s stock worth $2,096,000 after purchasing an additional 13,266 shares in the last quarter. Intellectus Partners LLC increased its holdings in shares of Baidu by 9.9% in the 1st quarter. Intellectus Partners LLC now owns 18,434 shares of the information services provider’s stock worth $1,696,000 after purchasing an additional 1,661 shares in the last quarter. Finally, Fluent Financial LLC bought a new stake in shares of Baidu in the 1st quarter worth $1,870,000.

Analyst Ratings Changes

BIDU has been the subject of a number of research analyst reports. Barclays set a $84.00 target price on Baidu and gave the stock an “equal weight” rating in a report on Thursday, May 22nd. Mizuho lifted their target price on Baidu from $95.00 to $105.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Citigroup reduced their target price on Baidu from $139.00 to $138.00 and set a “buy” rating for the company in a report on Thursday, May 22nd. Wall Street Zen lowered Baidu from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Finally, Nomura lowered Baidu from a “buy” rating to a “neutral” rating in a report on Wednesday, February 19th. Twelve equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Baidu presently has an average rating of “Hold” and an average price target of $107.82.

Baidu Stock Performance

BIDU stock opened at $86.00 on Friday. The company has a market cap of $29.71 billion, a P/E ratio of 9.38, a price-to-earnings-growth ratio of 2.96 and a beta of 0.33. Baidu, Inc. has a 1 year low of $74.71 and a 1 year high of $116.25. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.09 and a quick ratio of 2.19. The stock’s fifty day moving average price is $86.08 and its 200-day moving average price is $87.80.

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.