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

Handelsbanken Fonder AB cut its stake in Baidu, Inc. (NASDAQ:BIDU) by 46.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 98,802 shares of the information services provider’s stock after selling 84,015 shares during the period. Handelsbanken Fonder AB’s holdings in Baidu were worth $8,330,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the business. Primecap Management Co. CA raised its position in Baidu by 1.5% during the 3rd quarter. Primecap Management Co. CA now owns 12,123,856 shares of the information services provider’s stock worth $1,276,521,000 after buying an additional 176,150 shares during the last quarter. Sanders Capital LLC raised its position in Baidu by 0.7% during the 3rd quarter. Sanders Capital LLC now owns 2,605,728 shares of the information services provider’s stock worth $274,357,000 after buying an additional 18,334 shares during the last quarter. CoreView Capital Management Ltd raised its position in Baidu by 15.6% during the 3rd quarter. CoreView Capital Management Ltd now owns 1,236,783 shares of the information services provider’s stock worth $130,221,000 after buying an additional 166,618 shares during the last quarter. Maple Rock Capital Partners Inc. purchased a new position in Baidu during the 3rd quarter worth approximately $42,748,000. Finally, SG Americas Securities LLC raised its position in Baidu by 147.5% during the 4th quarter. SG Americas Securities LLC now owns 381,456 shares of the information services provider’s stock worth $32,161,000 after buying an additional 227,338 shares during the last quarter.

Baidu Price Performance

Shares of NASDAQ BIDU opened at $91.19 on Friday. The firm has a market cap of $31.97 billion, a PE ratio of 9.94, a PEG ratio of 2.91 and a beta of 0.46. The firm has a fifty day moving average of $87.08 and a 200 day moving average of $88.89. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.19 and a current ratio of 2.09. Baidu, Inc. has a one year low of $77.19 and a one year high of $116.25.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Mizuho raised their price target on shares of Baidu from $95.00 to $105.00 and gave the stock an “outperform” rating in a research report on Wednesday. China Renaissance lowered shares of Baidu from a “buy” rating to a “hold” rating and set a $86.00 target price for the company. in a report on Monday, November 25th. Benchmark reaffirmed a “buy” rating and set a $130.00 target price on shares of Baidu in a report on Wednesday. Susquehanna lowered shares of Baidu from a “positive” rating to a “neutral” rating and cut their target price for the company from $105.00 to $85.00 in a report on Monday, November 25th. Finally, Nomura lowered shares of Baidu from a “buy” rating to a “neutral” rating in a report on Wednesday. Thirteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Baidu currently has an average rating of “Hold” and an average target price of $111.25.

Baidu 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.