Handelsbanken Fonder AB Grows Position in Baidu, Inc. $BIDU

Handelsbanken Fonder AB lifted its position in shares of Baidu, Inc. (NASDAQ:BIDU) by 110.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 246,789 shares of the information services provider’s stock after purchasing an additional 129,789 shares during the quarter. Handelsbanken Fonder AB’s holdings in Baidu were worth $28,206,000 as of its most recent SEC filing.

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

Baidu Stock Down 3.3%

Shares of NASDAQ BIDU opened at $105.94 on Wednesday. The company’s 50-day simple moving average is $112.59 and its 200-day simple moving average is $123.69. Baidu, Inc. has a 52-week low of $84.82 and a 52-week high of $165.30. The firm has a market cap of $36.05 billion, a price-to-earnings ratio of -882.76, a price-to-earnings-growth ratio of 2.37 and a beta of 0.58. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.22.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on BIDU shares. Susquehanna raised their target price on Baidu from $120.00 to $140.00 and gave the company a “neutral” rating in a research report on Wednesday, May 20th. Weiss Ratings cut Baidu from a “hold (c-)” rating to a “sell (d)” rating in a report on Monday, May 18th. Wall Street Zen upgraded Baidu from a “sell” rating to a “hold” rating in a research report on Monday, May 25th. Morgan Stanley raised their price objective on Baidu from $135.00 to $140.00 in a report on Tuesday, May 19th. Finally, Barclays cut their price objective on Baidu from $128.00 to $124.00 and set an “equal weight” rating for the company in a research report on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $165.33.

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.