Baidu, Inc. (NASDAQ:BIDU) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB lessened its holdings in shares of Baidu, Inc. (NASDAQ:BIDU) by 46.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 98,802 shares of the information services provider’s stock after selling 84,015 shares during the quarter. Handelsbanken Fonder AB’s holdings in Baidu were worth $8,330,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sycomore Asset Management acquired a new stake in Baidu during the 4th quarter worth $51,000. Allspring Global Investments Holdings LLC boosted its position in shares of Baidu by 630.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 687 shares of the information services provider’s stock valued at $72,000 after acquiring an additional 593 shares during the last quarter. Transamerica Financial Advisors Inc. acquired a new position in shares of Baidu during the 3rd quarter valued at about $82,000. Denver PWM LLC boosted its position in shares of Baidu by 28.5% during the 3rd quarter. Denver PWM LLC now owns 991 shares of the information services provider’s stock valued at $104,000 after acquiring an additional 220 shares during the last quarter. Finally, Banco Santander S.A. acquired a new position in shares of Baidu during the 3rd quarter valued at about $201,000.

Baidu Stock Up 1.7 %

Shares of NASDAQ:BIDU opened at $91.19 on Friday. 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 firm has a market capitalization of $31.97 billion, a PE ratio of 9.94, a price-to-earnings-growth ratio of 2.91 and a beta of 0.46. The firm’s 50-day moving average is $87.08 and its two-hundred day moving average is $88.89. Baidu, Inc. has a 1 year low of $77.19 and a 1 year high of $116.25.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on BIDU shares. Daiwa Capital Markets reissued an “outperform” rating on shares of Baidu in a research report on Tuesday, February 18th. Citigroup lowered their price target on shares of Baidu from $142.00 to $141.00 and set a “buy” rating on the stock in a research report on Friday, November 29th. Benchmark reissued a “buy” rating and set a $130.00 price target on shares of Baidu in a research report on Wednesday. Nomura cut shares of Baidu from a “buy” rating to a “neutral” rating in a research report on Wednesday. Finally, Mizuho upped their target price on shares of Baidu from $95.00 to $105.00 and gave the company an “outperform” rating in a research report on Wednesday. Thirteen research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $111.25.

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.