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

OVERSEA CHINESE BANKING Corp Ltd raised its holdings in shares of Baidu, Inc. (NASDAQ:BIDU) by 23.7% in the third quarter, HoldingsChannel reports. The institutional investor owned 12,483 shares of the information services provider’s stock after purchasing an additional 2,389 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Baidu were worth $1,280,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. SRN Advisors LLC boosted its stake in shares of Baidu by 111.5% during the 1st quarter. SRN Advisors LLC now owns 15,694 shares of the information services provider’s stock worth $1,652,000 after acquiring an additional 8,272 shares in the last quarter. Handelsbanken Fonder AB boosted its position in shares of Baidu by 8.9% in the 3rd quarter. Handelsbanken Fonder AB now owns 182,817 shares of the information services provider’s stock valued at $19,249,000 after purchasing an additional 15,000 shares during the period. Clear Harbor Asset Management LLC increased its stake in Baidu by 82.9% in the 3rd quarter. Clear Harbor Asset Management LLC now owns 20,503 shares of the information services provider’s stock worth $2,159,000 after purchasing an additional 9,292 shares in the last quarter. B. Riley Wealth Advisors Inc. acquired a new stake in Baidu during the 2nd quarter worth about $606,000. Finally, Swedbank AB purchased a new stake in Baidu during the first quarter valued at about $4,351,000.

Baidu Stock Performance

Shares of BIDU opened at $84.80 on Wednesday. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 0.19. Baidu, Inc. has a 12 month low of $79.68 and a 12 month high of $126.23. The company’s fifty day moving average is $93.44 and its 200-day moving average is $93.93. The firm has a market cap of $29.74 billion, a price-to-earnings ratio of 11.17 and a beta of 0.51.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on BIDU shares. Sanford C. Bernstein downgraded shares of Baidu from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $130.00 to $97.00 in a research report on Friday, August 23rd. Loop Capital cut their target price on shares of Baidu from $120.00 to $115.00 and set a “buy” rating on the stock in a research note on Monday, August 26th. Susquehanna decreased their target price on Baidu from $135.00 to $105.00 and set a “positive” rating for the company in a research report on Thursday, September 5th. Dbs Bank lowered Baidu from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 3rd. Finally, Benchmark reduced their price objective on Baidu from $180.00 to $135.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Seven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $127.29.

About Baidu

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.