Hsbc Holdings PLC Sells 55,582 Shares of Baidu, Inc. $BIDU

Hsbc Holdings PLC lowered its stake in shares of Baidu, Inc. (NASDAQ:BIDU) by 41.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 79,282 shares of the information services provider’s stock after selling 55,582 shares during the period. Hsbc Holdings PLC’s holdings in Baidu were worth $10,435,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Empowered Funds LLC purchased a new stake in shares of Baidu in the first quarter worth about $334,000. EverSource Wealth Advisors LLC grew its stake in Baidu by 71.6% during the second quarter. EverSource Wealth Advisors LLC now owns 1,182 shares of the information services provider’s stock valued at $101,000 after acquiring an additional 493 shares in the last quarter. Guggenheim Capital LLC increased its holdings in Baidu by 53.3% during the 2nd quarter. Guggenheim Capital LLC now owns 9,670 shares of the information services provider’s stock worth $829,000 after acquiring an additional 3,362 shares during the period. First Trust Advisors LP lifted its stake in Baidu by 2.6% in the 2nd quarter. First Trust Advisors LP now owns 50,033 shares of the information services provider’s stock worth $4,291,000 after purchasing an additional 1,259 shares in the last quarter. Finally, Flow Traders U.S. LLC purchased a new stake in Baidu in the 2nd quarter worth approximately $254,000.

Baidu Trading Down 3.6%

Shares of BIDU opened at $103.99 on Friday. Baidu, Inc. has a fifty-two week low of $84.64 and a fifty-two week high of $165.30. The firm has a market cap of $35.38 billion, a price-to-earnings ratio of -866.51, a PEG ratio of 1.84 and a beta of 0.54. The firm has a 50 day moving average price of $126.57 and a 200-day moving average price of $129.43. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.85 and a current ratio of 1.85.

Analysts Set New Price Targets

Several brokerages have commented on BIDU. BNP Paribas Exane started coverage on shares of Baidu in a report on Wednesday, April 1st. They issued an “outperform” rating and a $161.00 price target for the company. Zephirin Group increased their price objective on Baidu from $88.00 to $89.00 and gave the stock a “sell” rating in a research report on Monday, March 2nd. Weiss Ratings lowered Baidu from a “hold (c-)” rating to a “sell (d)” rating in a research note on Monday, May 18th. Wall Street Zen raised Baidu from a “sell” rating to a “hold” rating in a research note on Monday, May 25th. Finally, Benchmark restated a “buy” rating and set a $215.00 target price on shares of Baidu in a research report on Tuesday, May 19th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $162.58.

Baidu Company Profile

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.