Handelsbanken Fonder AB Has $5.15 Million Stake in Baidu, Inc. (NASDAQ:BIDU)

Handelsbanken Fonder AB trimmed its position in Baidu, Inc. (NASDAQ:BIDU - Free Report) by 43.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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.

Other institutional investors and hedge funds have also modified their holdings of the company. UMB Bank n.a. grew 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 during the last quarter. Intellectus Partners LLC grew its holdings in Baidu by 1.4% during the 4th quarter. Intellectus Partners LLC now owns 16,773 shares of the information services provider's stock worth $1,414,000 after acquiring an additional 235 shares during the last quarter. US Bancorp DE grew its holdings in Baidu by 7.2% during the 4th quarter. US Bancorp DE now owns 4,036 shares of the information services provider's stock worth $340,000 after acquiring an additional 270 shares during the last quarter. Investors Research Corp grew its holdings in Baidu by 20.5% during the 1st quarter. Investors Research Corp now owns 1,760 shares of the information services provider's stock worth $162,000 after acquiring an additional 300 shares during the last quarter. Finally, GeoWealth Management LLC grew its holdings in Baidu by 88.5% during the 4th quarter. GeoWealth Management LLC now owns 656 shares of the information services provider's stock worth $55,000 after acquiring an additional 308 shares during the last quarter.

Wall Street Analysts Forecast Growth

BIDU has been the topic of several recent research reports. Benchmark reduced their target price on shares of Baidu from $130.00 to $120.00 and set a "buy" rating on the stock in a research note on Thursday, May 22nd. Daiwa Capital Markets reaffirmed an "outperform" rating on shares of Baidu in a research note on Tuesday, February 18th. Wall Street Zen lowered shares of Baidu from a "buy" rating to a "hold" rating in a research note on Wednesday, February 19th. Mizuho lifted their price objective on shares of Baidu from $95.00 to $105.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. Finally, Citigroup reduced their price objective on shares of Baidu from $139.00 to $138.00 and set a "buy" rating on the stock in a research note on Thursday, May 22nd. Twelve investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $107.82.

Baidu Stock Performance

BIDU stock traded down $1.81 during midday trading on Friday, reaching $86.00. 2,412,515 shares of the company were exchanged, compared to its average volume of 4,132,873. 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 business has a 50-day moving average price of $86.08 and a two-hundred day moving average price of $87.80. Baidu, Inc. has a one year low of $74.71 and a one year high of $116.25. The firm has a market capitalization of $29.71 billion, a price-to-earnings ratio of 9.38, a price-to-earnings-growth ratio of 2.96 and a beta of 0.33.

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.