D.A. Davidson & CO. lifted its position in Baidu Inc (NASDAQ:BIDU) by 6.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,076 shares of the information services provider’s stock after purchasing an additional 585 shares during the period. D.A. Davidson & CO.’s holdings in Baidu were worth $2,205,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in BIDU. Massachusetts Financial Services Co. MA increased its stake in shares of Baidu by 51.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,916,981 shares of the information services provider’s stock worth $708,826,000 after purchasing an additional 990,424 shares in the last quarter. Acadian Asset Management LLC increased its stake in shares of Baidu by 1,443.7% in the second quarter. Acadian Asset Management LLC now owns 679,601 shares of the information services provider’s stock worth $165,141,000 after purchasing an additional 635,577 shares in the last quarter. Bank of Montreal Can increased its stake in shares of Baidu by 234.0% in the second quarter. Bank of Montreal Can now owns 881,924 shares of the information services provider’s stock worth $214,306,000 after purchasing an additional 617,862 shares in the last quarter. Overlook Holdings Ltd purchased a new stake in shares of Baidu in the second quarter worth $138,341,000. Finally, Cornerstone Wealth Management LLC increased its stake in shares of Baidu by 24,375.1% in the second quarter. Cornerstone Wealth Management LLC now owns 401,637 shares of the information services provider’s stock worth $1,631,000 after purchasing an additional 399,996 shares in the last quarter. 61.73% of the stock is owned by hedge funds and other institutional investors.

Shares of Baidu opened at $219.89 on Friday, Marketbeat.com reports. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.00 and a quick ratio of 2.00. Baidu Inc has a fifty-two week low of $207.74 and a fifty-two week high of $284.22. The firm has a market cap of $78.60 billion, a P/E ratio of 21.67, a P/E/G ratio of 1.50 and a beta of 1.54.

Baidu declared that its Board of Directors has authorized a share buyback program on Wednesday, June 27th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the information services provider to buy up to 1.2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

BIDU has been the subject of a number of analyst reports. Goldman Sachs Group initiated coverage on shares of Baidu in a research note on Tuesday, May 8th. They issued a “buy” rating for the company. BidaskClub raised shares of Baidu from a “hold” rating to a “buy” rating in a research note on Monday, May 14th. Citigroup raised shares of Baidu from a “neutral” rating to a “buy” rating and set a $307.00 price objective for the company in a research note on Friday, April 27th. Benchmark reissued a “buy” rating and issued a $300.00 price objective (up from $285.00) on shares of Baidu in a research note on Friday, April 27th. Finally, Zacks Investment Research raised shares of Baidu from a “hold” rating to a “buy” rating and set a $257.00 price objective for the company in a research note on Tuesday, April 17th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Baidu currently has an average rating of “Buy” and a consensus price target of $293.32.

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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Institutional Ownership by Quarter for Baidu (NASDAQ:BIDU)

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