Nordea Investment Management AB grew its holdings in shares of Baidu Inc (NASDAQ:BIDU) by 89.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 102,156 shares of the information services provider’s stock after buying an additional 48,112 shares during the quarter. Nordea Investment Management AB’s holdings in Baidu were worth $12,428,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Synovus Financial Corp boosted its holdings in shares of Baidu by 152.1% in the 1st quarter. Synovus Financial Corp now owns 363 shares of the information services provider’s stock valued at $36,000 after buying an additional 219 shares during the last quarter. Creative Financial Designs Inc. ADV acquired a new stake in Baidu in the second quarter valued at $42,000. American Beacon Advisors Inc. grew its position in shares of Baidu by 52.3% in the 1st quarter. American Beacon Advisors Inc. now owns 457 shares of the information services provider’s stock valued at $46,000 after acquiring an additional 157 shares during the period. Contravisory Investment Management Inc. acquired a new position in shares of Baidu during the 2nd quarter worth about $48,000. Finally, Eudaimonia Partners LLC bought a new stake in shares of Baidu in the 1st quarter valued at about $56,000. Institutional investors own 52.21% of the company’s stock.
A number of brokerages have weighed in on BIDU. Barclays lowered their price target on Baidu from $136.00 to $130.00 and set an “equal weight” rating on the stock in a research report on Monday, August 17th. Benchmark reiterated a “buy” rating and set a $165.00 target price on shares of Baidu in a research note on Friday, August 14th. Nomura Instinet lifted their price objective on shares of Baidu from $120.00 to $123.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 20th. Bank of America decreased their price objective on shares of Baidu from $186.00 to $175.00 and set a “buy” rating on the stock in a report on Monday, August 17th. Finally, HSBC raised their target price on shares of Baidu from $120.00 to $132.00 and gave the stock a “buy” rating in a research note on Wednesday, May 20th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and sixteen have issued a buy rating to the stock. Baidu presently has a consensus rating of “Buy” and an average target price of $145.08.
BIDU opened at $122.87 on Friday. The company has a market cap of $41.99 billion, a P/E ratio of 81.37, a PEG ratio of -14.17 and a beta of 1.38. The company has a current ratio of 2.85, a quick ratio of 2.85 and a debt-to-equity ratio of 0.35. The company’s 50 day moving average is $122.89 and its 200-day moving average is $113.34. Baidu Inc has a 1-year low of $82.00 and a 1-year high of $147.38.
Baidu, Inc provides Internet search services in China and internationally. It operates through two segments, Baidu Core and iQIYI. The Baidu Core segment offers products for uses, including Baidu App to access search, feed, and other services using mobile devices; Baidu Search to access its search and other services through its other properties and Union partners; Baidu Feed that provides users with personalized timeline based on their demographics and interests; Haokan, a short video app; and Quanmin, a flash video app for users to create and share short videos.
See Also: How Do I Invest in Dividend Stocks
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.