Scotia Capital Inc. boosted its position in shares of Baidu Inc (NASDAQ:BIDU) by 605.3% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,474 shares of the information services provider’s stock after purchasing an additional 21,862 shares during the quarter. Scotia Capital Inc.’s holdings in Baidu were worth $2,990,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BIDU. SG Americas Securities LLC increased its holdings in Baidu by 604.1% during the 2nd quarter. SG Americas Securities LLC now owns 1,576,463 shares of the information services provider’s stock worth $185,014,000 after purchasing an additional 1,352,573 shares during the period. Tweedy Browne Co LLC increased its holdings in shares of 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 period. BlackRock Inc. increased its holdings in shares of Baidu by 4.3% in the 1st quarter. BlackRock Inc. now owns 15,784,632 shares of the information services provider’s stock valued at $2,602,096,000 after acquiring an additional 653,684 shares during the period. Bank of Montreal Can increased its holdings in shares of Baidu by 67.6% in the 2nd quarter. Bank of Montreal Can now owns 1,328,677 shares of the information services provider’s stock valued at $155,933,000 after acquiring an additional 535,992 shares during the period. Finally, Canada Pension Plan Investment Board increased its holdings in shares of Baidu by 99.3% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,001,898 shares of the information services provider’s stock valued at $117,583,000 after acquiring an additional 499,128 shares during the period. Institutional investors own 57.34% of the company’s stock.

Shares of Baidu stock traded down $0.78 during trading on Friday, reaching $110.72. The company’s stock had a trading volume of 189,533 shares, compared to its average volume of 4,677,793. The company has a quick ratio of 2.61, a current ratio of 2.61 and a debt-to-equity ratio of 0.32. The company has a market cap of $38.90 billion, a price-to-earnings ratio of 14.21, a P/E/G ratio of 14.47 and a beta of 1.73. Baidu Inc has a 1-year low of $93.39 and a 1-year high of $234.88. The company has a 50-day simple moving average of $104.41 and a two-hundred day simple moving average of $133.77.

Baidu announced that its board has authorized a share buyback program on Thursday, May 16th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the information services provider to buy up to 1.9% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

A number of research analysts have recently issued reports on BIDU shares. JPMorgan Chase & Co. started coverage on Baidu in a report on Wednesday, July 10th. They issued an “overweight” rating on the stock. ValuEngine upgraded Baidu from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. BidaskClub upgraded Baidu from a “strong sell” rating to a “sell” rating in a report on Thursday. Daiwa Capital Markets set a $108.00 price target on Baidu and gave the company a “hold” rating in a report on Friday, August 30th. Finally, Zacks Investment Research upgraded Baidu from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $151.06.

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 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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Institutional Ownership by Quarter for Baidu (NASDAQ:BIDU)

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