XL Group Investments Ltd lowered its stake in shares of Baidu Inc (NASDAQ:BIDU) by 3.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 150,000 shares of the information services provider’s stock after selling 5,000 shares during the quarter. Baidu accounts for 21.0% of XL Group Investments Ltd’s holdings, making the stock its 3rd biggest holding. XL Group Investments Ltd’s holdings in Baidu were worth $35,132,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rehmann Capital Advisory Group increased its position in shares of Baidu by 10.6% during the 3rd quarter. Rehmann Capital Advisory Group now owns 2,113 shares of the information services provider’s stock valued at $523,000 after purchasing an additional 202 shares during the last quarter. Advisors Capital Management LLC increased its position in shares of Baidu by 2.3% during the 3rd quarter. Advisors Capital Management LLC now owns 8,991 shares of the information services provider’s stock valued at $2,227,000 after purchasing an additional 204 shares during the last quarter. Commerce Bank increased its position in shares of Baidu by 8.1% during the 3rd quarter. Commerce Bank now owns 2,807 shares of the information services provider’s stock valued at $696,000 after purchasing an additional 210 shares during the last quarter. Hollencrest Capital Management increased its position in shares of Baidu by 12.8% during the 4th quarter. Hollencrest Capital Management now owns 1,870 shares of the information services provider’s stock valued at $438,000 after purchasing an additional 212 shares during the last quarter. Finally, 1st Global Advisors Inc. increased its position in shares of Baidu by 6.5% during the 2nd quarter. 1st Global Advisors Inc. now owns 3,610 shares of the information services provider’s stock valued at $646,000 after purchasing an additional 219 shares during the last quarter. 63.73% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Baidu Inc (NASDAQ:BIDU) opened at $215.67 on Monday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.71 and a current ratio of 1.71. The firm has a market capitalization of $74,890.00, a price-to-earnings ratio of 29.75, a P/E/G ratio of 1.50 and a beta of 1.86. Baidu Inc has a 12 month low of $166.00 and a 12 month high of $274.97.

BIDU has been the topic of several research analyst reports. Jefferies Group upped their price objective on Baidu from $232.00 to $305.00 and gave the company a “buy” rating in a research report on Friday, October 20th. Bank of America reaffirmed a “buy” rating and issued a $301.00 price objective on shares of Baidu in a research report on Sunday, November 19th. Wells Fargo & Co reaffirmed an “outperform” rating and issued a $200.00 price objective (down previously from $275.00) on shares of Baidu in a research report on Monday, January 8th. OTR Global raised Baidu to a “positive” rating in a research report on Wednesday, October 25th. Finally, JPMorgan Chase & Co. cut their price objective on Baidu from $230.00 to $225.00 and set a “neutral” rating on the stock in a research report on Monday, October 30th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. Baidu currently has a consensus rating of “Hold” and an average target price of $239.75.

COPYRIGHT VIOLATION NOTICE: “Baidu Inc (BIDU) Stake Decreased by XL Group Investments Ltd” was first published by TheOlympiaReport and is the property of of TheOlympiaReport. If you are viewing this piece on another domain, it was stolen and reposted in violation of United States & international copyright and trademark legislation. The original version of this piece can be accessed at https://theolympiareport.com/2018/02/12/baidu-inc-bidu-stake-decreased-by-xl-group-investments-ltd.html.

About Baidu

Baidu, Inc is a Chinese language Internet search provider. The Company offers a Chinese language search platform on its Baidu.com Website that enables users to find information online, including Webpages, news, images, documents and multimedia files, through links provided on its Website. In addition to serving individual Internet search users, the Company provides a platform for businesses to reach customers.

Want to see what other hedge funds are holding BIDU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Baidu Inc (NASDAQ:BIDU).

Institutional Ownership by Quarter for Baidu (NASDAQ:BIDU)

Receive News & Ratings for Baidu Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Baidu and related companies with MarketBeat.com's FREE daily email newsletter.