Shares of Baidu Inc (NASDAQ:BIDU) shot up 7.8% on Monday . The stock traded as high as $105.30 and last traded at $104.22, 11,401,375 shares changed hands during mid-day trading. An increase of 210% from the average session volume of 3,675,236 shares. The stock had previously closed at $96.70.

Several research firms have recently weighed in on BIDU. Deutsche Bank cut Baidu from a “buy” rating to a “hold” rating and set a $147.00 price target for the company. in a research note on Friday, May 17th. Macquarie set a $131.00 price objective on Baidu and gave the company a “hold” rating in a research report on Thursday, July 4th. KeyCorp reiterated an “overweight” rating and set a $148.00 price objective (down previously from $160.00) on shares of Baidu in a research report on Friday, August 9th. They noted that the move was a valuation call. Benchmark reduced their price objective on Baidu from $245.00 to $180.00 and set a “buy” rating for the company in a research report on Friday, May 17th. Finally, ValuEngine upgraded Baidu from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, twelve have given a hold rating and eleven have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $175.11.

The company has a market cap of $36.41 billion, a PE ratio of 13.36, a PEG ratio of 4.79 and a beta of 1.70. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.76 and a quick ratio of 2.76. The business has a 50-day moving average of $109.10 and a 200 day moving average of $141.43.

Baidu announced that its board has initiated a stock buyback plan on Thursday, May 16th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the information services provider to buy up to 1.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. grew its holdings in Baidu by 4.3% during the first quarter. BlackRock Inc. now owns 15,784,632 shares of the information services provider’s stock valued at $2,602,096,000 after purchasing an additional 653,684 shares during the period. Vanguard Group Inc. grew its holdings in Baidu by 0.9% during the second quarter. Vanguard Group Inc. now owns 10,111,996 shares of the information services provider’s stock valued at $1,186,744,000 after purchasing an additional 89,489 shares during the period. Invesco Ltd. grew its holdings in Baidu by 4.2% during the second quarter. Invesco Ltd. now owns 5,632,774 shares of the information services provider’s stock valued at $661,062,000 after purchasing an additional 228,312 shares during the period. Lazard Asset Management LLC grew its holdings in Baidu by 3.5% during the first quarter. Lazard Asset Management LLC now owns 3,191,574 shares of the information services provider’s stock valued at $526,130,000 after purchasing an additional 107,716 shares during the period. Finally, Comgest Global Investors S.A.S. grew its holdings in Baidu by 0.7% during the second 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 purchasing an additional 22,500 shares during the period. 58.10% of the stock is owned by institutional investors and hedge funds.

About Baidu (NASDAQ:BIDU)

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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