Baidu, Inc. (NASDAQ:BIDU) Shares Sold by Nordea Investment Management AB

Nordea Investment Management AB decreased its position in Baidu, Inc. (NASDAQ:BIDU) by 13.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 303,591 shares of the information services provider’s stock after selling 46,177 shares during the period. Nordea Investment Management AB owned approximately 0.09% of Baidu worth $25,720,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Primecap Management Co. CA lifted its holdings in shares of Baidu by 1.5% during the third quarter. Primecap Management Co. CA now owns 12,123,856 shares of the information services provider’s stock worth $1,276,521,000 after purchasing an additional 176,150 shares during the period. Sanders Capital LLC lifted its stake in Baidu by 0.7% during the 3rd quarter. Sanders Capital LLC now owns 2,605,728 shares of the information services provider’s stock valued at $274,357,000 after acquiring an additional 18,334 shares during the period. Federated Hermes Inc. boosted its holdings in shares of Baidu by 3.7% in the 2nd quarter. Federated Hermes Inc. now owns 1,884,556 shares of the information services provider’s stock valued at $162,976,000 after acquiring an additional 67,331 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Baidu by 1.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,344,309 shares of the information services provider’s stock worth $116,263,000 after acquiring an additional 14,878 shares during the period. Finally, CoreView Capital Management Ltd raised its holdings in shares of Baidu by 15.6% during the third quarter. CoreView Capital Management Ltd now owns 1,236,783 shares of the information services provider’s stock worth $130,221,000 after purchasing an additional 166,618 shares during the last quarter.

Baidu Price Performance

Shares of Baidu stock opened at $82.61 on Wednesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.19 and a quick ratio of 2.19. The business has a 50 day simple moving average of $86.83 and a two-hundred day simple moving average of $89.43. The stock has a market capitalization of $28.97 billion, a P/E ratio of 10.11, a PEG ratio of 1.19 and a beta of 0.46. Baidu, Inc. has a 12 month low of $78.95 and a 12 month high of $118.29.

Analyst Ratings Changes

Several equities research analysts have weighed in on BIDU shares. StockNews.com raised Baidu from a “hold” rating to a “buy” rating in a research report on Friday, December 27th. Susquehanna cut Baidu from a “positive” rating to a “neutral” rating and reduced their price target for the company from $105.00 to $85.00 in a research report on Monday, November 25th. Benchmark lowered their price objective on Baidu from $135.00 to $130.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. JPMorgan Chase & Co. lowered shares of Baidu from an “overweight” rating to a “neutral” rating in a report on Wednesday, November 27th. Finally, Dbs Bank downgraded shares of Baidu from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 3rd. Ten investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Baidu currently has an average rating of “Hold” and an average price target of $113.75.

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.