American International Group Inc. Has $4.77 Million Stake in Baidu Inc (BIDU)

American International Group Inc. increased its stake in shares of Baidu Inc (NASDAQ:BIDU) by 30.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 20,872 shares of the information services provider’s stock after purchasing an additional 4,841 shares during the quarter. American International Group Inc.’s holdings in Baidu were worth $4,773,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. increased its position in shares of Baidu by 29.4% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 328,537 shares of the information services provider’s stock valued at $79,835,000 after purchasing an additional 74,585 shares during the last quarter. MML Investors Services LLC grew its position in Baidu by 21.4% in the 3rd quarter. MML Investors Services LLC now owns 14,747 shares of the information services provider’s stock valued at $3,372,000 after acquiring an additional 2,604 shares during the last quarter. Marshall Wace LLP grew its position in Baidu by 6,361.9% in the 2nd quarter. Marshall Wace LLP now owns 96,735 shares of the information services provider’s stock valued at $23,507,000 after acquiring an additional 95,238 shares during the last quarter. Guinness Asset Management Ltd grew its position in Baidu by 11.6% in the 2nd quarter. Guinness Asset Management Ltd now owns 26,840 shares of the information services provider’s stock valued at $6,523,000 after acquiring an additional 2,800 shares during the last quarter. Finally, HL Financial Services LLC grew its position in Baidu by 58.9% in the 3rd quarter. HL Financial Services LLC now owns 3,382 shares of the information services provider’s stock valued at $773,000 after acquiring an additional 1,253 shares during the last quarter. 60.81% of the stock is currently owned by hedge funds and other institutional investors.

BIDU opened at $179.56 on Friday. Baidu Inc has a 12-month low of $174.66 and a 12-month high of $284.22. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.66 and a current ratio of 2.66. The firm has a market cap of $63.34 billion, a PE ratio of 22.28, a PEG ratio of 0.97 and a beta of 1.60.

Several brokerages have commented on BIDU. ValuEngine raised Baidu from a “sell” rating to a “hold” rating in a research report on Friday, September 21st. Credit Suisse Group set a $313.00 price objective on Baidu and gave the company a “buy” rating in a research report on Monday, October 1st. BidaskClub downgraded Baidu from a “sell” rating to a “strong sell” rating in a research report on Friday, August 31st. Susquehanna Bancshares began coverage on Baidu in a research report on Friday, September 7th. They issued a “positive” rating and a $325.00 price objective on the stock. Finally, UBS Group set a $280.00 price objective on Baidu and gave the company a “buy” rating in a research report on Tuesday, October 9th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $277.15.

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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.

Further Reading: Risk Tolerance

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Institutional Ownership by Quarter for Baidu (NASDAQ:BIDU)

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