Earnest Partners LLC Sells 18,375 Shares of Baidu Inc (NASDAQ:BIDU)

Earnest Partners LLC lowered its holdings in shares of Baidu Inc (NASDAQ:BIDU) by 3.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 562,910 shares of the information services provider’s stock after selling 18,375 shares during the period. Earnest Partners LLC’s holdings in Baidu were worth $66,063,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. American Beacon Advisors Inc. increased its position in shares of Baidu by 71.2% during the first quarter. American Beacon Advisors Inc. now owns 202 shares of the information services provider’s stock worth $33,000 after buying an additional 84 shares during the period. Independent Advisor Alliance increased its position in shares of Baidu by 5.5% during the first quarter. Independent Advisor Alliance now owns 1,735 shares of the information services provider’s stock worth $286,000 after buying an additional 90 shares during the period. FinTrust Capital Advisors LLC increased its position in shares of Baidu by 19.5% during the first quarter. FinTrust Capital Advisors LLC now owns 700 shares of the information services provider’s stock worth $116,000 after buying an additional 114 shares during the period. Wilbanks Smith & Thomas Asset Management LLC increased its position in shares of Baidu by 7.5% during the first quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 1,640 shares of the information services provider’s stock worth $270,000 after buying an additional 114 shares during the period. Finally, Synovus Financial Corp increased its position in shares of Baidu by 7.4% during the second quarter. Synovus Financial Corp now owns 1,832 shares of the information services provider’s stock worth $214,000 after buying an additional 127 shares during the period. 57.34% of the stock is owned by hedge funds and other institutional investors.

NASDAQ:BIDU opened at $110.33 on Friday. The company has a current ratio of 2.61, a quick ratio of 2.61 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $38.90 billion, a price-to-earnings ratio of 14.14, a PEG ratio of 14.47 and a beta of 1.73. The firm has a fifty day simple moving average of $104.41 and a two-hundred day simple moving average of $133.77. Baidu Inc has a 12 month low of $93.39 and a 12 month high of $234.88.

Baidu announced that its board has approved a share repurchase program on Thursday, May 16th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the information services provider to purchase up to 1.9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.

BIDU has been the subject of several recent analyst reports. Deutsche Bank cut shares of Baidu from a “buy” rating to a “hold” rating and set a $147.00 price objective for the company. in a research report on Friday, May 17th. Loop Capital initiated coverage on shares of Baidu in a research report on Monday, June 3rd. They set a “hold” rating and a $125.00 price objective for the company. ValuEngine upgraded shares of Baidu from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. HSBC increased their price objective on shares of Baidu from $137.00 to $141.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Finally, Benchmark decreased their price objective on shares of Baidu to $165.00 and set a “buy” rating for the company in a research report on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and ten have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $151.06.

About Baidu

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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Institutional Ownership by Quarter for Baidu (NASDAQ:BIDU)

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