Hsbc Holdings PLC Sells 169,068 Shares of Baidu, Inc. (NASDAQ:BIDU)

Hsbc Holdings PLC cut its stake in shares of Baidu, Inc. (NASDAQ:BIDU) by 40.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 248,356 shares of the information services provider’s stock after selling 169,068 shares during the period. Hsbc Holdings PLC owned about 0.07% of Baidu worth $21,504,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of BIDU. Crewe Advisors LLC purchased a new stake in Baidu during the first quarter valued at $31,000. iA Global Asset Management Inc. bought a new stake in shares of Baidu during the 2nd quarter valued at about $52,000. Silicon Valley Capital Partners purchased a new stake in shares of Baidu during the 1st quarter valued at about $53,000. Accent Capital Management LLC bought a new position in shares of Baidu in the 4th quarter worth approximately $66,000. Finally, Denver PWM LLC purchased a new position in shares of Baidu in the second quarter worth approximately $67,000.

Wall Street Analysts Forecast Growth

BIDU has been the topic of several recent research reports. StockNews.com cut shares of Baidu from a “buy” rating to a “hold” rating in a research note on Tuesday, July 16th. Bank of America cut their price target on Baidu from $128.00 to $117.00 and set a “buy” rating for the company in a report on Friday, August 23rd. Loop Capital lowered their price objective on Baidu from $120.00 to $115.00 and set a “buy” rating on the stock in a research report on Monday, August 26th. Jefferies Financial Group cut their price objective on Baidu from $174.00 to $139.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Finally, Citigroup lowered their price target on shares of Baidu from $170.00 to $155.00 and set a “buy” rating on the stock in a report on Monday, July 15th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $135.13.

Baidu Stock Performance

NASDAQ BIDU opened at $86.24 on Friday. The stock has a market capitalization of $30.24 billion, a PE ratio of 11.54 and a beta of 0.48. Baidu, Inc. has a 1-year low of $79.68 and a 1-year high of $136.53. The business has a 50 day simple moving average of $86.28 and a two-hundred day simple moving average of $95.24. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.32 and a quick ratio of 2.32.

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.