Hexavest Inc. Acquires 3,045 Shares of Baidu Inc (BIDU)

Hexavest Inc. grew its holdings in Baidu Inc (NASDAQ:BIDU) by 47.7% in the 3rd quarter, HoldingsChannel reports. The fund owned 9,428 shares of the information services provider’s stock after purchasing an additional 3,045 shares during the quarter. Hexavest Inc.’s holdings in Baidu were worth $2,156,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Bartlett & Co. LLC boosted its holdings in shares of Baidu by 71.0% during the 2nd quarter. Bartlett & Co. LLC now owns 530 shares of the information services provider’s stock worth $129,000 after buying an additional 220 shares during the period. BB&T Securities LLC raised its stake in Baidu by 0.6% during the 2nd quarter. BB&T Securities LLC now owns 40,891 shares of the information services provider’s stock valued at $9,936,000 after purchasing an additional 239 shares during the last quarter. Atria Investments LLC raised its stake in Baidu by 4.5% during the 3rd quarter. Atria Investments LLC now owns 6,211 shares of the information services provider’s stock valued at $1,420,000 after purchasing an additional 267 shares during the last quarter. Deltec Asset Management LLC raised its stake in Baidu by 19.4% during the 2nd quarter. Deltec Asset Management LLC now owns 2,150 shares of the information services provider’s stock valued at $522,000 after purchasing an additional 350 shares during the last quarter. Finally, Ausdal Financial Partners Inc. raised its stake in Baidu by 30.0% during the 2nd quarter. Ausdal Financial Partners Inc. now owns 1,559 shares of the information services provider’s stock valued at $379,000 after purchasing an additional 360 shares during the last quarter. 61.32% of the stock is owned by institutional investors and hedge funds.

BIDU has been the subject of several research analyst reports. Zacks Investment Research cut shares of Baidu from a “hold” rating to a “sell” rating in a research note on Monday, October 8th. Deutsche Bank set a $337.00 target price on shares of Baidu and gave the company a “buy” rating in a research note on Wednesday, August 1st. BidaskClub cut shares of Baidu from a “hold” rating to a “sell” rating in a research note on Friday, August 3rd. KeyCorp set a $297.00 target price on shares of Baidu and gave the company a “buy” rating in a research note on Wednesday, August 1st. Finally, UBS Group set a $280.00 target price on shares of Baidu and gave the company a “buy” rating in a research note on Tuesday. Three analysts have rated the stock with a sell rating, five have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $292.95.

Shares of BIDU stock opened at $204.36 on Friday. Baidu Inc has a 52-week low of $189.00 and a 52-week high of $284.22. The firm has a market capitalization of $79.30 billion, a PE ratio of 25.10, a price-to-earnings-growth ratio of 0.97 and a beta of 1.49. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 0.25.

Baidu declared that its Board of Directors has initiated a share repurchase plan on Wednesday, June 27th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the information services provider to reacquire up to 1.2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

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.

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Institutional Ownership by Quarter for Baidu (NASDAQ:BIDU)

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