Hsbc Holdings PLC Has $7.92 Million Stock Position in Baidu, Inc. (NASDAQ:BIDU)

Hsbc Holdings PLC lowered its stake in shares of Baidu, Inc. (NASDAQ:BIDU - Free Report) by 62.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 93,897 shares of the information services provider's stock after selling 153,548 shares during the quarter. Hsbc Holdings PLC's holdings in Baidu were worth $7,920,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. FIL Ltd increased its holdings in shares of Baidu by 367.1% in the 4th quarter. FIL Ltd now owns 599,918 shares of the information services provider's stock valued at $50,579,000 after acquiring an additional 471,497 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Baidu by 1,111.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 360,378 shares of the information services provider's stock worth $30,317,000 after purchasing an additional 330,627 shares in the last quarter. Contrarius Group Holdings Ltd purchased a new stake in shares of Baidu during the 4th quarter worth approximately $27,328,000. SG Americas Securities LLC boosted its holdings in shares of Baidu by 147.5% in the 4th quarter. SG Americas Securities LLC now owns 381,456 shares of the information services provider's stock valued at $32,161,000 after buying an additional 227,338 shares in the last quarter. Finally, Pictet Asset Management Holding SA raised its stake in Baidu by 9.4% during the 4th quarter. Pictet Asset Management Holding SA now owns 2,410,307 shares of the information services provider's stock worth $203,213,000 after acquiring an additional 207,966 shares in the last quarter.

Analysts Set New Price Targets

BIDU has been the topic of a number of recent research reports. StockNews.com lowered shares of Baidu from a "buy" rating to a "hold" rating in a research note on Wednesday, February 19th. Benchmark reaffirmed a "buy" rating and set a $130.00 price objective on shares of Baidu in a research note on Wednesday, February 19th. Nomura lowered shares of Baidu from a "buy" rating to a "neutral" rating in a research note on Wednesday, February 19th. Nomura Securities lowered shares of Baidu from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, February 19th. Finally, Barclays lowered their price objective on shares of Baidu from $95.00 to $90.00 and set an "equal weight" rating on the stock in a research note on Monday, April 21st. Thirteen research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $110.83.

Baidu Stock Performance

Shares of NASDAQ:BIDU traded up $2.05 on Friday, hitting $89.96. 2,223,295 shares of the company were exchanged, compared to its average volume of 4,121,814. The company's 50 day moving average price is $89.14 and its two-hundred day moving average price is $88.22. 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 $74.71 and a one year high of $116.25. The firm has a market capitalization of $31.08 billion, a price-to-earnings ratio of 9.81, a PEG 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.