Baidu Inc (BIDU) Shares Sold by People s United Financial Inc.

People s United Financial Inc. trimmed its position in shares of Baidu Inc (NASDAQ:BIDU) by 14.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,252 shares of the information services provider’s stock after selling 1,074 shares during the period. People s United Financial Inc.’s holdings in Baidu were worth $1,429,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Principal Financial Group Inc. lifted its position in shares of Baidu by 14.0% during the 1st quarter. Principal Financial Group Inc. now owns 4,759 shares of the information services provider’s stock valued at $1,062,000 after buying an additional 586 shares in the last quarter. Comerica Bank lifted its holdings in Baidu by 2.8% in the 2nd quarter. Comerica Bank now owns 21,948 shares of the information services provider’s stock worth $5,927,000 after purchasing an additional 605 shares in the last quarter. Montag A & Associates Inc. lifted its holdings in Baidu by 57.0% in the 2nd quarter. Montag A & Associates Inc. now owns 8,474 shares of the information services provider’s stock worth $2,059,000 after purchasing an additional 3,077 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in Baidu by 33.6% in the 2nd quarter. Victory Capital Management Inc. now owns 80,629 shares of the information services provider’s stock worth $19,593,000 after purchasing an additional 20,291 shares in the last quarter. Finally, D.A. Davidson & CO. lifted its holdings in Baidu by 6.9% in the 2nd quarter. D.A. Davidson & CO. now owns 9,076 shares of the information services provider’s stock worth $2,205,000 after purchasing an additional 585 shares in the last quarter. Hedge funds and other institutional investors own 60.81% of the company’s stock.

BIDU has been the topic of a number of research analyst reports. ValuEngine cut Baidu from a “hold” rating to a “sell” rating in a report on Wednesday, August 15th. BidaskClub cut Baidu from a “sell” rating to a “strong sell” rating in a report on Friday, August 17th. Susquehanna Bancshares initiated coverage on Baidu in a report on Friday, September 7th. They issued a “positive” rating and a $325.00 price target on the stock. Credit Suisse Group set a $313.00 price target on Baidu and gave the stock a “buy” rating in a report on Monday, October 1st. Finally, Zacks Investment Research cut Baidu from a “hold” rating to a “sell” rating in a report on Monday, October 8th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $277.15.

Shares of BIDU opened at $179.56 on Friday. The company has a market cap of $62.66 billion, a PE ratio of 22.28, a PEG ratio of 0.96 and a beta of 1.60. Baidu Inc has a 1 year low of $174.66 and a 1 year 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.

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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 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: Outstanding Shares and The Effect on Share Price

Institutional Ownership by Quarter for Baidu (NASDAQ:BIDU)

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