OVERSEA CHINESE BANKING Corp Ltd Decreases Stock Holdings in Baidu, Inc. (NASDAQ:BIDU)

OVERSEA CHINESE BANKING Corp Ltd reduced its holdings in Baidu, Inc. (NASDAQ:BIDU) by 30.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,657 shares of the information services provider’s stock after selling 3,826 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Baidu were worth $750,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Maple Rock Capital Partners Inc. purchased a new position in Baidu in the third quarter worth about $42,748,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Baidu in the 3rd quarter valued at approximately $36,272,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Baidu by 1,111.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 360,378 shares of the information services provider’s stock worth $30,317,000 after purchasing an additional 330,627 shares during the period. Hhlr Advisors LTD. bought a new position in shares of Baidu during the 3rd quarter valued at approximately $31,587,000. Finally, SG Americas Securities LLC raised its holdings in Baidu by 147.5% during the 4th quarter. SG Americas Securities LLC now owns 381,456 shares of the information services provider’s stock valued at $32,161,000 after buying an additional 227,338 shares during the period.

Baidu Stock Down 4.2 %

Baidu stock opened at $98.24 on Thursday. Baidu, Inc. has a twelve month low of $77.20 and a twelve month high of $116.25. The business has a fifty day moving average of $89.45 and a two-hundred day moving average of $89.75. The firm has a market cap of $34.45 billion, a P/E ratio of 10.71, a P/E/G ratio of 2.96 and a beta of 0.47. The company has a quick ratio of 2.19, a current ratio of 2.09 and a debt-to-equity ratio of 0.19.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Citigroup reduced their target price on shares of Baidu from $142.00 to $141.00 and set a “buy” rating on the stock in a research note on Friday, November 29th. Mizuho boosted their target price on Baidu from $95.00 to $105.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Susquehanna downgraded Baidu from a “positive” rating to a “neutral” rating and reduced their price target for the stock from $105.00 to $85.00 in a report on Monday, November 25th. JPMorgan Chase & Co. cut Baidu from an “overweight” rating to a “neutral” rating in a report on Wednesday, November 27th. Finally, StockNews.com lowered Baidu from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Thirteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Baidu has an average rating of “Hold” and an average price target of $111.25.

Baidu 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.