Baidu, Inc. $BIDU Shares Bought by Hsbc Holdings PLC

Key Points

• HSBC Holdings PLC increased its stake in Baidu, Inc. by 160.8% during the first quarter, now owning approximately 0.07% of Baidu, valued at $22.57 million.
• Several institutional investors have also boosted their holdings in Baidu, indicating growing interest among hedge funds.
• Analysts' price targets for Baidu vary, with some lowering their target while others maintain a "buy" rating, reflecting mixed sentiment about the stock's future.

Hsbc Holdings PLC grew its holdings in Baidu, Inc. (NASDAQ:BIDU - Free Report) by 160.8% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 244,911 shares of the information services provider's stock after acquiring an additional 151,014 shares during the quarter. Hsbc Holdings PLC owned about 0.07% of Baidu worth $22,566,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in BIDU. Raymond James Financial Inc. purchased a new position in shares of Baidu in the 4th quarter valued at about $3,497,000. GeoWealth Management LLC grew its stake 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 buying an additional 308 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in 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 worth $113,845,000 after buying an additional 4,236 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in Baidu by 749.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,872 shares of the information services provider's stock worth $326,000 after buying an additional 3,416 shares during the last quarter. Finally, Banco Bilbao Vizcaya Argentaria S.A. purchased a new position in Baidu during the 4th quarter worth approximately $2,695,000.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on BIDU shares. Benchmark dropped their price target on Baidu from $120.00 to $115.00 and set a "buy" rating on the stock in a research note on Thursday, August 21st. Citigroup raised their price target on Baidu from $138.00 to $140.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. Barclays dropped their price target on Baidu from $84.00 to $81.00 and set an "equal weight" rating on the stock in a research note on Friday, July 18th. Jefferies Financial Group lowered their target price on Baidu from $120.00 to $110.00 and set a "buy" rating on the stock in a research note on Wednesday, July 16th. Finally, Macquarie reiterated a "neutral" rating on shares of Baidu in a research note on Wednesday, May 21st. Five investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $102.75.

Baidu Price Performance

Shares of BIDU traded up $0.87 during mid-day trading on Thursday, hitting $90.73. The company's stock had a trading volume of 2,156,652 shares, compared to its average volume of 4,392,255. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.19. The firm has a 50-day simple moving average of $88.06 and a 200 day simple moving average of $88.47. The firm has a market capitalization of $31.34 billion, a P/E ratio of 8.36 and a beta of 0.34. Baidu, Inc. has a 1-year low of $74.71 and a 1-year 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.