Hsbc Holdings PLC Decreases Stock Position in Baidu, Inc. $BIDU

Hsbc Holdings PLC lessened its stake in Baidu, Inc. (NASDAQ:BIDU) by 41.2% in the fourth quarter, HoldingsChannel reports. The fund 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 quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Schroder Investment Management Group purchased a new position in Baidu in the 3rd quarter worth approximately $165,334,000. RPD Fund Management LLC lifted its position in Baidu by 161.6% in the second quarter. RPD Fund Management LLC now owns 1,258,856 shares of the information services provider’s stock valued at $107,959,000 after purchasing an additional 777,570 shares during the last quarter. Morgan Stanley boosted its stake in shares of Baidu by 38.0% during the fourth quarter. Morgan Stanley now owns 2,709,426 shares of the information services provider’s stock valued at $354,014,000 after purchasing an additional 745,588 shares during the period. Contrarius Group Holdings Ltd grew its holdings in shares of Baidu by 500.3% in the third quarter. Contrarius Group Holdings Ltd now owns 891,749 shares of the information services provider’s stock worth $117,506,000 after purchasing an additional 743,205 shares during the last quarter. Finally, ARK Investment Management LLC grew its holdings in shares of Baidu by 127.8% in the fourth quarter. ARK Investment Management LLC now owns 1,157,878 shares of the information services provider’s stock worth $151,288,000 after purchasing an additional 649,490 shares during the last quarter.

Baidu Stock Down 3.6%

Shares of NASDAQ:BIDU opened at $103.99 on Friday. The stock has a market capitalization 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 stock has a fifty day simple moving average of $126.57 and a two-hundred day simple moving average of $129.43. Baidu, Inc. has a 12-month low of $84.64 and a 12-month high of $165.30. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.22.

Wall Street Analyst Weigh In

BIDU has been the topic of several analyst reports. Weiss Ratings downgraded shares of Baidu from a “hold (c-)” rating to a “sell (d)” rating in a research note on Monday, May 18th. Citigroup reiterated a “buy” rating on shares of Baidu in a report on Tuesday. Wall Street Zen raised Baidu from a “sell” rating to a “hold” rating in a research note on Monday, May 25th. Zephirin Group boosted their target price on Baidu from $88.00 to $89.00 and gave the company a “sell” rating in a research note on Monday, March 2nd. Finally, Zacks Research upgraded Baidu from a “strong sell” rating to a “hold” rating in a report on Monday, June 15th. One equities 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 issued a Sell rating to the company. According to MarketBeat.com, Baidu currently has a consensus rating of “Moderate Buy” and an average price target 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.