KBC Group NV Sells 1,696 Shares of Baidu, Inc. (NASDAQ:BIDU)

KBC Group NV trimmed its holdings in shares of Baidu, Inc. (NASDAQ:BIDU) by 11.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,709 shares of the information services provider’s stock after selling 1,696 shares during the period. KBC Group NV’s holdings in Baidu were worth $1,443,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Oppenheimer & Co. Inc. increased its holdings in Baidu by 6.9% during the third quarter. Oppenheimer & Co. Inc. now owns 5,563 shares of the information services provider’s stock worth $586,000 after buying an additional 357 shares during the last quarter. Rakuten Securities Inc. increased its stake in shares of Baidu by 126.5% during the 3rd quarter. Rakuten Securities Inc. now owns 6,785 shares of the information services provider’s stock worth $714,000 after purchasing an additional 3,790 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd raised its holdings in shares of Baidu by 23.7% in the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 12,483 shares of the information services provider’s stock worth $1,280,000 after purchasing an additional 2,389 shares during the period. GSA Capital Partners LLP lifted its stake in Baidu by 40.3% in the third quarter. GSA Capital Partners LLP now owns 4,859 shares of the information services provider’s stock valued at $512,000 after purchasing an additional 1,396 shares during the last quarter. Finally, Apollon Wealth Management LLC purchased a new position in Baidu in the third quarter valued at approximately $315,000.

Wall Street Analyst Weigh In

Several brokerages have issued reports on BIDU. Jefferies Financial Group lowered their target price on Baidu from $174.00 to $139.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Susquehanna lowered their price target on shares of Baidu from $135.00 to $105.00 and set a “positive” rating on the stock in a research report on Thursday, September 5th. Benchmark cut their price objective on shares of Baidu from $180.00 to $135.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Hsbc Global Res cut shares of Baidu from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 24th. Finally, Bank of America dropped their target price on Baidu from $128.00 to $117.00 and set a “buy” rating on the stock in a research report on Friday, August 23rd. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $127.29.

Baidu Stock Up 1.0 %

Shares of NASDAQ BIDU opened at $85.42 on Tuesday. The company has a current ratio of 2.32, a quick ratio of 2.32 and a debt-to-equity ratio of 0.19. The business has a 50-day moving average of $93.68 and a 200-day moving average of $93.21. The firm has a market capitalization of $29.95 billion, a price-to-earnings ratio of 11.25 and a beta of 0.51. Baidu, Inc. has a 12 month low of $79.68 and a 12 month high of $126.23.

Baidu Company Profile

Baidu, Inc engages in the provision of internet search services in China. It operates through two segments: Baidu Core and iQIYI. The company offers Baidu App to access search, feed, and other services using mobile devices; Baidu Search to access its search and other services; Baidu Feed that provides users with personalized timeline based on their demographics and interests; Baidu Health that helps users to find the doctor and hospital for healthcare needs; and Haokan, a short video app.