American Century Companies Inc. trimmed its stake in Baidu Inc (NASDAQ:BIDU) by 1.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 515,181 shares of the information services provider’s stock after selling 9,078 shares during the quarter. American Century Companies Inc. owned approximately 0.15% of Baidu worth $117,812,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of BIDU. Advisors Asset Management Inc. grew its holdings in shares of Baidu by 31,003.6% in the 2nd quarter. Advisors Asset Management Inc. now owns 1,103,867 shares of the information services provider’s stock worth $1,547,000 after acquiring an additional 1,100,318 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Baidu by 51.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,916,981 shares of the information services provider’s stock worth $708,826,000 after acquiring an additional 990,424 shares during the last quarter. Waddell & Reed Financial Inc. acquired a new position in shares of Baidu in the 2nd quarter worth $222,598,000. Mainstay Capital Management LLC ADV acquired a new position in shares of Baidu in the 2nd quarter worth $3,069,000. Finally, Acadian Asset Management LLC grew its holdings in shares of Baidu by 1,443.7% in the 2nd quarter. Acadian Asset Management LLC now owns 679,601 shares of the information services provider’s stock worth $165,141,000 after acquiring an additional 635,577 shares during the last quarter. Institutional investors and hedge funds own 60.90% of the company’s stock.
A number of equities analysts recently issued reports on the company. BidaskClub cut Baidu from a “buy” rating to a “hold” rating in a report on Tuesday, July 24th. Zacks Investment Research upgraded Baidu from a “sell” rating to a “hold” rating in a report on Monday, July 23rd. Deutsche Bank set a $337.00 target price on Baidu and gave the stock a “buy” rating in a report on Wednesday, August 1st. ValuEngine upgraded Baidu from a “sell” rating to a “hold” rating in a report on Friday, September 21st. Finally, KeyCorp set a $297.00 target price on Baidu and gave the stock a “buy” rating in a report on Wednesday, August 1st. Two analysts have rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $278.86.
Shares of Baidu stock opened at $183.75 on Friday. The firm has a market capitalization of $66.73 billion, a PE ratio of 22.80, a price-to-earnings-growth ratio of 0.98 and a beta of 1.61. The company has a quick ratio of 2.19, a current ratio of 2.66 and a debt-to-equity ratio of 0.24. Baidu Inc has a 12 month low of $177.80 and a 12 month high of $284.22.
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 mobile browsers; Baidu Feed that provides users with personalized timeline to meet their personal interests reflected in their past online behaviors, such as search and browsing, and their demographics; and Bear Paw Account that enables verified brands and businesses to aggregate their content from Websites, wapsites, and open-platform apps.
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