Bank Hapoalim BM Sells 8,225 Shares of Baidu, Inc. $BIDU

Bank Hapoalim BM decreased its holdings in shares of Baidu, Inc. (NASDAQ:BIDU) by 19.1% during the third quarter, HoldingsChannel reports. The institutional investor owned 34,744 shares of the information services provider’s stock after selling 8,225 shares during the period. Bank Hapoalim BM’s holdings in Baidu were worth $4,578,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of BIDU. Sequoia Financial Advisors LLC boosted its holdings in Baidu by 45.4% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 6,581 shares of the information services provider’s stock valued at $867,000 after acquiring an additional 2,056 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Baidu by 85.5% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 314,989 shares of the information services provider’s stock valued at $41,506,000 after purchasing an additional 145,214 shares during the period. World Equity Group Inc. bought a new position in shares of Baidu in the third quarter worth about $303,000. Abbington Investment Group purchased a new position in Baidu in the 3rd quarter worth about $273,000. Finally, Spire Wealth Management raised its stake in shares of Baidu by 3,877.0% during the third quarter. Spire Wealth Management now owns 3,977 shares of the information services provider’s stock valued at $524,000 after acquiring an additional 3,877 shares in the last quarter.

Baidu Stock Performance

Shares of BIDU stock opened at $149.53 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.91 and a current ratio of 1.91. Baidu, Inc. has a 52 week low of $74.71 and a 52 week high of $154.29. The company’s 50 day moving average price is $127.81 and its two-hundred day moving average price is $114.53. The company has a market capitalization of $51.66 billion, a P/E ratio of 49.68 and a beta of 0.30.

Wall Street Analysts Forecast Growth

BIDU has been the topic of several research analyst reports. The Goldman Sachs Group increased their price objective on Baidu from $154.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, November 19th. Jefferies Financial Group increased their price target on Baidu from $159.00 to $181.00 and gave the stock a “buy” rating in a research report on Friday, January 2nd. National Bankshares upgraded Baidu to an “outperform” rating in a report on Monday, November 24th. Barclays upped their price objective on shares of Baidu from $81.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 19th. Finally, Benchmark reissued a “buy” rating on shares of Baidu in a research report on Monday, January 12th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $151.06.

About Baidu

Baidu, Inc, founded in 2000 and headquartered in Beijing, is a Chinese multinational technology company best known for operating one of China’s leading internet search engines. The company built its business around online search and related advertising services, providing search, content aggregation and targeted ad placements to consumers and marketers across China. Baidu went public on the NASDAQ in 2005 and has since diversified beyond search into a broader technology and AI-focused portfolio.

Core products and services include the Baidu search platform and mobile app, Baidu Maps and Baidu Baike (an online encyclopedia), along with digital content initiatives.