Nan Fung Trinity HK Ltd. Cuts Stock Holdings in Baidu, Inc. (NASDAQ:BIDU)

Key Points

• Nan Fung Trinity HK Ltd. reduced its stake in Baidu, Inc. by 32.3%, owning 485,821 shares after selling 231,800 in the first quarter.
• Several large investors, including Creekmur Asset Management and Assetmark Inc., made new or increased investments in Baidu shares during the same period.
• Analyst ratings for Baidu show a mixture of buy and hold ratings, with Citigroup raising its price objective to $140.00 and a consensus price target of $105.09.

Nan Fung Trinity HK Ltd. trimmed its holdings in Baidu, Inc. (NASDAQ:BIDU - Free Report) by 32.3% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 485,821 shares of the information services provider's stock after selling 231,800 shares during the quarter. Baidu comprises approximately 7.1% of Nan Fung Trinity HK Ltd.'s portfolio, making the stock its 2nd biggest position. Nan Fung Trinity HK Ltd. owned about 0.14% of Baidu worth $44,710,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of BIDU. Dodge & Cox grew its stake in shares of Baidu by 0.4% during the 4th quarter. Dodge & Cox now owns 5,916,215 shares of the information services provider's stock valued at $498,796,000 after purchasing an additional 22,000 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Baidu by 1,377.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,324,728 shares of the information services provider's stock valued at $490,035,000 after purchasing an additional 4,964,350 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Baidu by 0.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,350,315 shares of the information services provider's stock valued at $113,845,000 after purchasing an additional 4,236 shares during the period. CoreView Capital Management Ltd grew its stake in shares of Baidu by 2.0% during the 4th quarter. CoreView Capital Management Ltd now owns 1,262,003 shares of the information services provider's stock valued at $106,399,000 after purchasing an additional 25,220 shares during the period. Finally, Bank of America Corp DE grew its stake in shares of Baidu by 14.1% during the 4th quarter. Bank of America Corp DE now owns 913,466 shares of the information services provider's stock valued at $77,014,000 after purchasing an additional 112,680 shares during the period.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on BIDU shares. Barclays cut their price target on Baidu from $84.00 to $81.00 and set an "equal weight" rating for the company in a research note on Friday, July 18th. Macquarie reaffirmed a "neutral" rating on shares of Baidu in a research report on Wednesday, May 21st. Citigroup lifted their price objective on Baidu from $138.00 to $140.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Jefferies Financial Group lowered their price objective on Baidu from $120.00 to $110.00 and set a "buy" rating on the stock in a research report on Wednesday, July 16th. Finally, Benchmark lowered their price objective on Baidu from $130.00 to $120.00 and set a "buy" rating on the stock in a research report on Thursday, May 22nd. Twelve investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Baidu presently has a consensus rating of "Hold" and a consensus price target of $105.09.

Baidu Trading Down 1.0%

Shares of NASDAQ BIDU traded down $0.86 during trading hours on Wednesday, hitting $85.94. 2,528,818 shares of the company traded hands, compared to its average volume of 4,273,039. The stock has a market capitalization of $29.69 billion, a price-to-earnings ratio of 8.53 and a beta of 0.33. The company has a current ratio of 2.29, a quick ratio of 2.29 and a debt-to-equity ratio of 0.27. The company's 50 day moving average price is $86.72 and its 200 day moving average price is $88.15. Baidu, Inc. has a 12 month low of $74.71 and a 12 month high of $116.25.

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.