Baidu, Inc. (NASDAQ:BIDU) Shares Sold by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. reduced its stake in Baidu, Inc. (NASDAQ:BIDU - Free Report) by 85.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,584 shares of the information services provider's stock after selling 44,315 shares during the period. Daiwa Securities Group Inc.'s holdings in Baidu were worth $903,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Bruce G. Allen Investments LLC acquired a new stake in shares of Baidu in the fourth quarter valued at $25,000. Headinvest LLC acquired a new stake in shares of Baidu in the third quarter valued at $36,000. FNY Investment Advisers LLC acquired a new stake in shares of Baidu in the fourth quarter valued at $42,000. ING Groep NV raised its stake in Baidu by 103.2% in the third quarter. ING Groep NV now owns 443 shares of the information services provider's stock valued at $60,000 after buying an additional 225 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Baidu in the third quarter valued at $73,000.

Wall Street Analysts Forecast Growth

BIDU has been the topic of a number of analyst reports. HSBC cut their price target on Baidu from $157.00 to $145.00 and set a "buy" rating on the stock in a research note on Wednesday. Barclays cut their price target on Baidu from $138.00 to $133.00 and set an "overweight" rating on the stock in a research note on Thursday, February 29th. StockNews.com cut Baidu from a "buy" rating to a "hold" rating in a research note on Saturday, March 23rd. Finally, Citigroup cut their price target on Baidu from $181.00 to $176.00 and set a "buy" rating on the stock in a research note on Tuesday, April 9th. One equities research analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat, Baidu presently has an average rating of "Moderate Buy" and a consensus target price of $171.64.

Baidu Stock Performance

Shares of NASDAQ BIDU traded up $0.71 during midday trading on Thursday, reaching $99.90. 1,565,278 shares of the company were exchanged, compared to its average volume of 3,316,308. The company has a current ratio of 3.01, a quick ratio of 3.01 and a debt-to-equity ratio of 0.23. Baidu, Inc. has a 1 year low of $94.25 and a 1 year high of $156.98. The stock has a fifty day simple moving average of $103.19 and a 200 day simple moving average of $109.13. The stock has a market cap of $35.03 billion, a P/E ratio of 12.94 and a beta of 0.68.

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.