Harding Loevner LP Holding in Baidu INC (BIDU) Has Decreased by $80.09 Million

March 14, 2018 - By Kurt Siggers

Harding Loevner Lp decreased its stake in Baidu Inc (BIDU) by 8.25% based on its latest 2017Q3 regulatory filing with the SEC. Harding Loevner Lp sold 324,255 shares as the company’s stock rose 1.94% with the market. The hedge fund held 3.61M shares of the technology company at the end of 2017Q3, valued at $893.74M, down from 3.93M at the end of the previous reported quarter. Harding Loevner Lp who had been investing in Baidu Inc for a number of months, seems to be less bullish one the $90.41 billion market cap company. The stock increased 0.51% or $1.32 during the last trading session, reaching $259.67. About 1.73M shares traded. Baidu, Inc. (NASDAQ:BIDU) has risen 12.02% since March 14, 2017 and is uptrending. It has underperformed by 4.68% the S&P500.

Harding Loevner Lp, which manages about $36.30 billion and $17.58 billion US Long portfolio, upped its stake in Check Point Software Tech Lt (NASDAQ:CHKP) by 310,975 shares to 6.17 million shares, valued at $703.17 million in 2017Q3, according to the filing. It also increased its holding in Schlumberger Ltd (NYSE:SLB) by 337,477 shares in the quarter, for a total of 10.01 million shares, and has risen its stake in Grupo Financiero Galicia S A (NASDAQ:GGAL).

Analysts await Baidu, Inc. (NASDAQ:BIDU) to report earnings on April, 26. They expect $1.33 EPS, up 101.52 % or $0.67 from last year’s $0.66 per share. BIDU’s profit will be $463.05 million for 48.81 P/E if the $1.33 EPS becomes a reality. After $1.90 actual EPS reported by Baidu, Inc. for the previous quarter, Wall Street now forecasts -30.00 % negative EPS growth.

More notable recent Baidu, Inc. (NASDAQ:BIDU) news were published by: Investorplace.com which released: “Baidu Inc (ADR) Stock Is a Solid Bet After Earnings Spike” on February 14, 2018, also Fool.com with their article: “10 Reasons to Buy Baidu Inc (ADR) Stock and Never Sell” published on January 15, 2018, Investorplace.com published: “Baidu Inc (ADR) Is Likely to Falter Before it Flies (Again)” on November 15, 2017. More interesting news about Baidu, Inc. (NASDAQ:BIDU) were released by: Investorplace.com and their article: “No Simple Reasons Why Baidu Inc (ADR) Stock Looks So Cheap” published on December 15, 2017 as well as Investorplace.com‘s news article titled: “The Rally in Momo Inc (ADR) Stock Has More Runway Ahead” with publication date: March 09, 2018.

Baidu, Inc. (NASDAQ:BIDU) Ratings Coverage

Among 24 analysts covering Baidu (NASDAQ:BIDU), 9 have Buy rating, 3 Sell and 12 Hold. Therefore 38% are positive. Baidu had 61 analyst reports since July 28, 2015 according to SRatingsIntel. The stock of Baidu, Inc. (NASDAQ:BIDU) has “Hold” rating given on Wednesday, September 9 by Deutsche Bank. Jefferies downgraded the shares of BIDU in report on Tuesday, January 23 to “Hold” rating. The stock of Baidu, Inc. (NASDAQ:BIDU) earned “Neutral” rating by JP Morgan on Monday, October 30. The rating was upgraded by Morgan Stanley on Thursday, February 15 to “Overweight”. The company was maintained on Friday, July 14 by Bernstein. Summit Research downgraded the stock to “Hold” rating in Wednesday, September 30 report. The rating was downgraded by KeyBanc Capital Markets on Tuesday, July 28 to “Sector Weight”. The stock has “Outperform” rating by Macquarie Research on Monday, May 2. Barclays Capital maintained Baidu, Inc. (NASDAQ:BIDU) on Monday, October 30 with “Equal-Weight” rating. The firm has “Equal-Weight” rating by Morgan Stanley given on Tuesday, January 17.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.