Vanguard Capital Wealth Advisors grew its position in shares of Baidu Inc (NASDAQ:BIDU) by 5.6% during the third quarter, according to its most recent filing with the SEC. The firm owned 8,035 shares of the information services provider’s stock after acquiring an additional 425 shares during the period. Baidu comprises about 2.1% of Vanguard Capital Wealth Advisors’ holdings, making the stock its 11th largest holding. Vanguard Capital Wealth Advisors’ holdings in Baidu were worth $1,837,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the business. Federated Investors Inc. PA bought a new stake in shares of Baidu in the 2nd quarter worth approximately $108,000. Flagship Harbor Advisors LLC bought a new stake in shares of Baidu in the 2nd quarter worth approximately $119,000. Bartlett & Co. LLC boosted its position in shares of Baidu by 71.0% in the 2nd quarter. Bartlett & Co. LLC now owns 530 shares of the information services provider’s stock worth $129,000 after purchasing an additional 220 shares in the last quarter. Centaurus Financial Inc. bought a new stake in shares of Baidu in the 2nd quarter worth approximately $150,000. Finally, CENTRAL TRUST Co lifted its position in Baidu by 116.0% in the 3rd quarter. CENTRAL TRUST Co now owns 741 shares of the information services provider’s stock valued at $170,000 after acquiring an additional 398 shares in the last quarter. Hedge funds and other institutional investors own 60.94% of the company’s stock.
Several equities analysts recently issued reports on the company. Credit Suisse Group raised Baidu from a “neutral” rating to an “outperform” rating and set a $307.00 price objective on the stock in a research report on Monday, July 9th. BidaskClub raised Baidu from a “hold” rating to a “buy” rating in a research report on Thursday, July 12th. Zacks Investment Research cut Baidu from a “hold” rating to a “sell” rating in a research report on Wednesday, July 11th. ValuEngine cut Baidu from a “hold” rating to a “sell” rating in a research report on Thursday, September 6th. Finally, Susquehanna Bancshares assumed coverage on Baidu in a research report on Friday, September 7th. They issued a “positive” rating and a $325.00 price objective on the stock. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $291.48.
BIDU traded up $0.45 during mid-day trading on Friday, reaching $192.33. 94,060 shares of the company traded hands, compared to its average volume of 2,872,732. The firm has a market cap of $69.60 billion, a PE ratio of 24.25, a P/E/G ratio of 1.12 and a beta of 1.49. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 0.25. Baidu Inc has a 52-week low of $189.00 and a 52-week high of $284.22.
Baidu announced that its Board of Directors has authorized a share repurchase plan on Wednesday, June 27th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the information services provider to purchase up to 1.2% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its shares are undervalued.
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.
Recommended Story: Stop Order Uses For Individual Investors
Receive News & Ratings for Baidu Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Baidu and related companies with MarketBeat.com's FREE daily email newsletter.