Nordea Investment Management AB Reduces Position in Baidu, Inc. (NASDAQ:BIDU)

Nordea Investment Management AB trimmed its holdings in Baidu, Inc. (NASDAQ:BIDU) by 13.2% during the fourth quarter, HoldingsChannel reports. The firm owned 303,591 shares of the information services provider’s stock after selling 46,177 shares during the period. Nordea Investment Management AB’s holdings in Baidu were worth $25,720,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Primecap Management Co. CA lifted its position in Baidu by 17.2% during the second quarter. Primecap Management Co. CA now owns 11,947,706 shares of the information services provider’s stock worth $1,033,238,000 after buying an additional 1,753,577 shares in the last quarter. International Assets Investment Management LLC raised its holdings in shares of Baidu by 12,065.6% during the 3rd quarter. International Assets Investment Management LLC now owns 1,070,694 shares of the information services provider’s stock worth $1,127,330,000 after acquiring an additional 1,061,893 shares during the period. Maple Rock Capital Partners Inc. acquired a new position in shares of Baidu during the 3rd quarter valued at about $42,748,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Baidu in the third quarter valued at about $36,272,000. Finally, Hhlr Advisors LTD. acquired a new stake in Baidu during the third quarter worth about $31,587,000.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on BIDU shares. JPMorgan Chase & Co. cut shares of Baidu from an “overweight” rating to a “neutral” rating in a research note on Wednesday, November 27th. StockNews.com upgraded Baidu from a “hold” rating to a “buy” rating in a research report on Friday, December 27th. Dbs Bank downgraded Baidu from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 3rd. China Renaissance cut Baidu from a “buy” rating to a “hold” rating and set a $86.00 price target for the company. in a report on Monday, November 25th. Finally, Citigroup reduced their price objective on shares of Baidu from $142.00 to $141.00 and set a “buy” rating on the stock in a report on Friday, November 29th. Ten research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $113.75.

Baidu Stock Performance

Shares of BIDU stock opened at $82.61 on Wednesday. Baidu, Inc. has a 52 week low of $78.95 and a 52 week high of $118.29. The firm has a 50 day moving average of $86.83 and a two-hundred day moving average of $89.43. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $28.97 billion, a PE ratio of 10.11, a P/E/G ratio of 1.19 and a beta of 0.46.

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.