Bank Hapoalim BM Trims Stake in Baidu, Inc. $BIDU

Bank Hapoalim BM lessened its position in Baidu, Inc. (NASDAQ:BIDU) by 19.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 34,744 shares of the information services provider’s stock after selling 8,225 shares during the quarter. Bank Hapoalim BM’s holdings in Baidu were worth $4,578,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in BIDU. Empowered Funds LLC bought a new stake in Baidu in the first quarter worth about $334,000. Parallel Advisors LLC lifted its stake in shares of Baidu by 17.0% during the 2nd quarter. Parallel Advisors LLC now owns 935 shares of the information services provider’s stock worth $80,000 after acquiring an additional 136 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Baidu by 128.0% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 6,203 shares of the information services provider’s stock worth $536,000 after acquiring an additional 3,482 shares during the last quarter. Exchange Traded Concepts LLC boosted its holdings in Baidu by 25.0% during the 2nd quarter. Exchange Traded Concepts LLC now owns 77,899 shares of the information services provider’s stock valued at $6,681,000 after acquiring an additional 15,584 shares during the period. Finally, Kingstone Capital Partners Texas LLC bought a new position in Baidu in the 2nd quarter valued at $80,618,000.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on BIDU shares. Nomura lifted their target price on Baidu from $140.00 to $178.00 and gave the stock a “buy” rating in a research report on Monday, January 5th. Benchmark reiterated a “buy” rating on shares of Baidu in a report on Monday, January 12th. Daiwa Capital Markets set a $160.00 price objective on shares of Baidu and gave the company a “buy” rating in a research report on Tuesday, October 14th. National Bankshares raised shares of Baidu to an “outperform” rating in a research report on Monday, November 24th. Finally, JPMorgan Chase & Co. raised shares of Baidu from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $110.00 to $188.00 in a research note on Monday, November 24th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Baidu has an average rating of “Moderate Buy” and an average price target of $151.06.

Baidu Stock Performance

NASDAQ BIDU opened at $149.53 on Friday. The business’s 50 day moving average price is $127.81 and its 200-day moving average price is $114.53. Baidu, Inc. has a fifty-two week low of $74.71 and a fifty-two week high of $154.29. The company has a market cap of $51.66 billion, a P/E ratio of 49.68 and a beta of 0.30. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.91 and a current ratio of 1.91.

Baidu Company Profile

Baidu, Inc, founded in 2000 and headquartered in Beijing, is a Chinese multinational technology company best known for operating one of China’s leading internet search engines. The company built its business around online search and related advertising services, providing search, content aggregation and targeted ad placements to consumers and marketers across China. Baidu went public on the NASDAQ in 2005 and has since diversified beyond search into a broader technology and AI-focused portfolio.

Core products and services include the Baidu search platform and mobile app, Baidu Maps and Baidu Baike (an online encyclopedia), along with digital content initiatives.