Cambridge Investment Research Advisors Inc. lessened its holdings in Baidu Inc (NASDAQ:BIDU) by 34.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,858 shares of the information services provider’s stock after selling 11,571 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Baidu were worth $2,621,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of BIDU. FMR LLC raised its position in Baidu by 149.7% in the first quarter. FMR LLC now owns 82,956 shares of the information services provider’s stock valued at $13,674,000 after purchasing an additional 49,735 shares during the period. Alliancebernstein L.P. raised its holdings in shares of Baidu by 312.7% during the 4th quarter. Alliancebernstein L.P. now owns 25,411 shares of the information services provider’s stock valued at $3,212,000 after buying an additional 19,254 shares during the period. Macquarie Group Ltd. lifted its position in Baidu by 0.7% during the 4th quarter. Macquarie Group Ltd. now owns 958,303 shares of the information services provider’s stock worth $121,129,000 after acquiring an additional 6,905 shares in the last quarter. Private Trust Co. NA purchased a new position in Baidu in the 1st quarter worth approximately $211,000. Finally, Polaris Greystone Financial Group LLC acquired a new stake in Baidu in the first quarter valued at approximately $2,513,000. 53.18% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ:BIDU opened at $119.40 on Friday. The company has a market cap of $41.29 billion, a PE ratio of 19.67, a P/E/G ratio of 5.25 and a beta of 1.45. Baidu Inc has a fifty-two week low of $82.00 and a fifty-two week high of $147.38. The firm has a 50-day simple moving average of $122.79 and a 200 day simple moving average of $115.04. The company has a quick ratio of 2.95, a current ratio of 2.95 and a debt-to-equity ratio of 0.35.
Several research analysts have recently weighed in on the stock. Sanford C. Bernstein restated a “buy” rating and issued a $150.00 target price on shares of Baidu in a research note on Tuesday, April 7th. Citigroup decreased their price objective on shares of Baidu from $189.00 to $178.00 and set a “buy” rating for the company in a research report on Monday, April 27th. Oppenheimer reaffirmed a “buy” rating and set a $155.00 target price on shares of Baidu in a research report on Monday, April 27th. Mizuho reduced their price target on Baidu from $175.00 to $170.00 and set a “buy” rating for the company in a report on Tuesday, July 28th. Finally, KeyCorp lowered their price objective on Baidu from $147.00 to $145.00 and set an “overweight” rating for the company in a research note on Friday. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and sixteen have issued a buy rating to the company’s stock. Baidu currently has a consensus rating of “Buy” and an average price target of $143.21.
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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