Everett Harris & Co. CA grew its stake in shares of Baidu Inc (NASDAQ:BIDU) by 19.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,838 shares of the information services provider’s stock after acquiring an additional 2,562 shares during the period. Everett Harris & Co. CA’s holdings in Baidu were worth $1,859,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of BIDU. BlackRock Inc. raised its position in shares of Baidu by 4.3% during the 1st quarter. BlackRock Inc. now owns 15,784,632 shares of the information services provider’s stock worth $2,602,096,000 after purchasing an additional 653,684 shares during the last quarter. Lazard Asset Management LLC raised its holdings in Baidu by 3.5% in the 1st quarter. Lazard Asset Management LLC now owns 3,191,574 shares of the information services provider’s stock valued at $526,130,000 after acquiring an additional 107,716 shares during the last quarter. Comgest Global Investors S.A.S. raised its holdings in Baidu by 0.7% in the 2nd quarter. Comgest Global Investors S.A.S. now owns 3,131,855 shares of the information services provider’s stock valued at $367,555,000 after acquiring an additional 22,500 shares during the last quarter. OppenheimerFunds Inc. raised its holdings in Baidu by 1.6% in the 1st quarter. OppenheimerFunds Inc. now owns 3,116,579 shares of the information services provider’s stock valued at $513,768,000 after acquiring an additional 47,716 shares during the last quarter. Finally, Tweedy Browne Co LLC raised its holdings in Baidu by 64.8% in the 2nd quarter. Tweedy Browne Co LLC now owns 2,367,889 shares of the information services provider’s stock valued at $277,895,000 after acquiring an additional 930,874 shares during the last quarter. Institutional investors own 57.34% of the company’s stock.
NASDAQ BIDU opened at $112.86 on Thursday. 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 firm’s fifty day moving average price is $104.41 and its two-hundred day moving average price is $133.77. Baidu Inc has a 1 year low of $93.39 and a 1 year high of $234.88. The firm has a market capitalization of $39.46 billion, a P/E ratio of 14.50, a price-to-earnings-growth ratio of 13.77 and a beta of 1.73.
Baidu announced that its board has initiated a stock buyback program on Thursday, May 16th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the information services provider to repurchase up to 1.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its stock is undervalued.
Several research analysts have weighed in on BIDU shares. Credit Suisse Group reiterated an “outperform” rating on shares of Baidu in a report on Wednesday, July 17th. Macquarie set a $131.00 price target on Baidu and gave the company a “hold” rating in a report on Thursday, July 4th. CLSA set a $138.00 price objective on shares of Baidu and gave the company a “buy” rating in a research note on Monday, July 8th. Morgan Stanley set a $125.00 price target on shares of Baidu and gave the stock a “hold” rating in a research report on Tuesday, August 20th. Finally, Deutsche Bank cut shares of Baidu from a “buy” rating to a “hold” rating and set a $147.00 price target for the company. in a research report on Friday, May 17th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Baidu presently has an average rating of “Hold” and an average price target of $151.06.
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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