Baidu, Inc. $BIDU Shares Bought by Handelsbanken Fonder AB

Handelsbanken Fonder AB boosted its stake in shares of Baidu, Inc. (NASDAQ:BIDU) by 110.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 246,789 shares of the information services provider’s stock after purchasing an additional 129,789 shares during the period. Handelsbanken Fonder AB owned approximately 0.07% of Baidu worth $28,206,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Signature Equity Partners LLC acquired a new stake in shares of Baidu during the first quarter worth $25,000. Binnacle Investments Inc acquired a new position in shares of Baidu in the 2nd quarter valued at $29,000. Sankala Group LLC purchased a new position in Baidu in the 4th quarter worth $46,000. Brown Brothers Harriman & Co. raised its stake in Baidu by 35.0% in the 4th quarter. Brown Brothers Harriman & Co. now owns 405 shares of the information services provider’s stock worth $53,000 after acquiring an additional 105 shares during the last quarter. Finally, UMB Bank n.a. lifted its position in Baidu by 25.9% during the 4th quarter. UMB Bank n.a. now owns 428 shares of the information services provider’s stock worth $56,000 after acquiring an additional 88 shares during the period.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on BIDU shares. Wall Street Zen upgraded Baidu from a “sell” rating to a “hold” rating in a research note on Monday, May 25th. Morgan Stanley raised their price objective on Baidu from $135.00 to $140.00 in a research note on Tuesday, May 19th. Bank of America decreased their target price on Baidu from $180.00 to $165.00 and set a “buy” rating for the company in a report on Tuesday, July 14th. Barclays dropped their target price on Baidu from $128.00 to $124.00 and set an “equal weight” rating on the stock in a research report on Monday, July 13th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Baidu from $230.00 to $205.00 and set an “overweight” rating for the company in a research report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $165.33.

Baidu Price Performance

Shares of BIDU opened at $105.94 on Wednesday. The business’s 50-day moving average is $112.59 and its two-hundred day moving average is $123.69. The company has a market capitalization of $36.05 billion, a P/E ratio of -882.76, a P/E/G ratio of 2.37 and a beta of 0.58. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.85 and a current ratio of 1.85. Baidu, Inc. has a fifty-two week low of $84.82 and a fifty-two week high of $165.30.

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.