E Fund Management Hong Kong Co. Ltd. trimmed its position in shares of Baidu, Inc. (NASDAQ:BIDU) by 23.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 69,232 shares of the information services provider’s stock after selling 21,388 shares during the quarter. Baidu accounts for 8.8% of E Fund Management Hong Kong Co. Ltd.’s portfolio, making the stock its 4th largest position. E Fund Management Hong Kong Co. Ltd.’s holdings in Baidu were worth $14,116,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in BIDU. BlackRock Inc. lifted its position in Baidu by 3.7% in the 1st quarter. BlackRock Inc. now owns 13,217,017 shares of the information services provider’s stock valued at $2,875,361,000 after acquiring an additional 467,284 shares in the last quarter. ARK Investment Management LLC lifted its position in Baidu by 126.8% in the 1st quarter. ARK Investment Management LLC now owns 5,127,543 shares of the information services provider’s stock valued at $1,115,497,000 after acquiring an additional 2,866,767 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in Baidu by 49.6% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,439,157 shares of the information services provider’s stock valued at $530,639,000 after acquiring an additional 808,683 shares in the last quarter. Mondrian Investment Partners LTD lifted its position in Baidu by 18.5% in the 2nd quarter. Mondrian Investment Partners LTD now owns 1,860,139 shares of the information services provider’s stock valued at $379,282,000 after acquiring an additional 289,964 shares in the last quarter. Finally, Nikko Asset Management Americas Inc. lifted its position in Baidu by 93.8% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 1,723,940 shares of the information services provider’s stock worth $375,043,000 after buying an additional 834,614 shares in the last quarter. 48.22% of the stock is currently owned by institutional investors.
Get Baidu alerts: Several equities research analysts have commented on BIDU shares. CLSA cut their price target on shares of Baidu from $350.00 to $335.00 and set a “buy” rating on the stock in a research report on Tuesday, May 25th. Benchmark cut their price target on shares of Baidu from $370.00 to $357.00 and set a “buy” rating on the stock in a research report on Friday. Susquehanna Bancshares cut their price target on shares of Baidu from $450.00 to $250.00 and set a “positive” rating on the stock in a research report on Thursday, May 20th. Citigroup cut their price target on shares of Baidu from $283.00 to $264.00 and set a “buy” rating on the stock in a research report on Friday. Finally, Zacks Investment Research cut shares of Baidu from a “hold” rating to a “sell” rating in a research report on Thursday, July 15th. One analyst has rated the stock with a sell rating, one has given a hold rating and eighteen have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $291.26.
BIDU traded down $7.18 on Friday, reaching $152.45. The company had a trading volume of 7,942,526 shares, compared to its average volume of 4,699,975. Baidu, Inc. has a fifty-two week low of $115.59 and a fifty-two week high of $354.82. The firm has a market cap of $51.17 billion, a PE ratio of 7.95, a P/E/G ratio of 16.06 and a beta of 1.01. The firm’s fifty day simple moving average is $180.44. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.86 and a current ratio of 2.86.
Baidu Company Profile
Baidu, Inc engages in the provision of internet search and online marketing solutions. The firm’s products and services include Baidu App, Baidu Search, Baidu Feed, Haokan, Quanmin, Baidu Post Bar, Baidu Knows, Baidu Encyclopedia, Baidu Input Method Editor or Baidu IME and Overseas Products. It operates through the following segments: Baidu Core and iQIYI.
See Also: How is a price target determined?
Want to see what other hedge funds are holding BIDU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Baidu, Inc. (NASDAQ:BIDU).
Receive News & Ratings for Baidu Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Baidu and related companies with MarketBeat.com's FREE daily email newsletter .