TD Asset Management Inc. lifted its stake in shares of Baidu Inc (NASDAQ:BIDU) by 9.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 31,955 shares of the information services provider’s stock after purchasing an additional 2,630 shares during the quarter. TD Asset Management Inc.’s holdings in Baidu were worth $3,750,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. American Beacon Advisors Inc. lifted its holdings in Baidu by 71.2% in the 1st quarter. American Beacon Advisors Inc. now owns 202 shares of the information services provider’s stock valued at $33,000 after purchasing an additional 84 shares in the last quarter. Westside Investment Management Inc. purchased a new position in Baidu in the 2nd quarter valued at about $33,000. Lindbrook Capital LLC lifted its holdings in Baidu by 290.5% in the 2nd quarter. Lindbrook Capital LLC now owns 328 shares of the information services provider’s stock valued at $38,000 after purchasing an additional 244 shares in the last quarter. Cullen Frost Bankers Inc. purchased a new position in Baidu in the 1st quarter valued at about $45,000. Finally, Wealthcare Advisory Partners LLC lifted its holdings in Baidu by 392.2% in the 2nd quarter. Wealthcare Advisory Partners LLC now owns 502 shares of the information services provider’s stock valued at $59,000 after purchasing an additional 400 shares in the last quarter. 58.10% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages have recently weighed in on BIDU. Loop Capital began coverage on shares of Baidu in a report on Monday, June 3rd. They set a “hold” rating and a $125.00 price objective on the stock. Jefferies Financial Group began coverage on shares of Baidu in a report on Monday, August 5th. They set a “buy” rating and a $132.00 price objective on the stock. Mizuho cut their price objective on shares of Baidu from $215.00 to $205.00 and set a “buy” rating on the stock in a report on Tuesday, May 7th. UBS Group reiterated a “hold” rating and set a $145.00 price objective on shares of Baidu in a report on Friday, July 5th. Finally, ValuEngine upgraded shares of Baidu from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and eleven have given a buy rating to the company’s stock. Baidu has an average rating of “Hold” and an average target price of $169.00.
BIDU opened at $107.90 on Thursday. The firm has a 50 day moving average price of $108.73 and a 200 day moving average price of $140.80. The company has a market cap of $36.41 billion, a PE ratio of 13.83, a price-to-earnings-growth ratio of 5.29 and a beta of 1.70. Baidu Inc has a 1 year low of $93.39 and a 1 year high of $234.88. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.76 and a current ratio of 2.76.
Baidu announced that its board has initiated a share buyback program on Thursday, May 16th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the information services provider to buy up to 1.9% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.
Baidu Company Profile
Baidu, Inc provides Internet search services in China and internationally. It operates through two segments, Baidu Core and iQIYI. The Baidu Core segment offers products for uses, including Baidu App to access search, feed, and other services using mobile devices; Baidu Search to access its search and other services through its other properties and Union partners; Baidu Feed that provides users with personalized timeline based on their demographics and interests; Haokan, a short video app; and Quanmin, a flash video app for users to create and share short videos.
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