Baidu, Inc. (NASDAQ:BIDU) Shares Sold by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd lessened its stake in Baidu, Inc. (NASDAQ:BIDU) by 30.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,657 shares of the information services provider’s stock after selling 3,826 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Baidu were worth $750,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Rialto Wealth Management LLC purchased a new position in Baidu during the fourth quarter valued at approximately $42,000. Sycomore Asset Management purchased a new position in shares of Baidu during the 4th quarter valued at approximately $51,000. World Investment Advisors LLC acquired a new position in shares of Baidu in the 3rd quarter valued at $72,000. Transamerica Financial Advisors Inc. acquired a new position in shares of Baidu in the 3rd quarter valued at $82,000. Finally, Denver PWM LLC boosted its holdings in Baidu by 28.5% during the third quarter. Denver PWM LLC now owns 991 shares of the information services provider’s stock worth $104,000 after buying an additional 220 shares in the last quarter.

Baidu Stock Performance

NASDAQ BIDU opened at $98.24 on Thursday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.19 and a current ratio of 2.09. The stock’s fifty day moving average is $89.45 and its two-hundred day moving average is $89.75. The firm has a market capitalization of $34.45 billion, a P/E ratio of 10.71, a price-to-earnings-growth ratio of 2.96 and a beta of 0.47. Baidu, Inc. has a fifty-two week low of $77.20 and a fifty-two week high of $116.25.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Citigroup decreased their price objective on shares of Baidu from $142.00 to $141.00 and set a “buy” rating for the company in a research report on Friday, November 29th. StockNews.com cut Baidu from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Sanford C. Bernstein reissued a “market perform” rating on shares of Baidu in a report on Saturday, March 8th. JPMorgan Chase & Co. downgraded Baidu from an “overweight” rating to a “neutral” rating in a research note on Wednesday, November 27th. Finally, Barclays lifted their price target on shares of Baidu from $83.00 to $95.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 11th. Thirteen research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $111.25.

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.