American International Group Inc. raised its holdings in Baidu Inc (NASDAQ:BIDU) by 30.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 20,872 shares of the information services provider’s stock after buying an additional 4,841 shares during the quarter. American International Group Inc.’s holdings in Baidu were worth $4,773,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in the business. BlackRock Inc. raised its stake in Baidu by 11.6% in the third quarter. BlackRock Inc. now owns 15,768,108 shares of the information services provider’s stock valued at $3,605,851,000 after buying an additional 1,642,559 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Baidu by 13.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,300,964 shares of the information services provider’s stock worth $754,863,000 after purchasing an additional 383,983 shares during the last quarter. Comgest Global Investors S.A.S. raised its stake in shares of Baidu by 9.3% in the third quarter. Comgest Global Investors S.A.S. now owns 2,754,880 shares of the information services provider’s stock worth $629,986,000 after purchasing an additional 235,000 shares during the last quarter. OppenheimerFunds Inc. raised its stake in shares of Baidu by 3.3% in the second quarter. OppenheimerFunds Inc. now owns 2,654,224 shares of the information services provider’s stock worth $644,976,000 after purchasing an additional 85,932 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in shares of Baidu by 14.4% in the second quarter. Bank of America Corp DE now owns 1,560,081 shares of the information services provider’s stock worth $379,099,000 after purchasing an additional 196,031 shares during the last quarter. Institutional investors own 60.81% of the company’s stock.
Several research analysts have recently issued reports on the company. ValuEngine upgraded Baidu from a “sell” rating to a “hold” rating in a research note on Friday, September 21st. Credit Suisse Group set a $313.00 price objective on Baidu and gave the stock a “buy” rating in a research note on Monday, October 1st. BidaskClub cut Baidu from a “sell” rating to a “strong sell” rating in a research note on Friday, August 31st. Susquehanna Bancshares assumed coverage on Baidu in a research note on Friday, September 7th. They issued a “positive” rating and a $325.00 price objective for the company. Finally, UBS Group set a $280.00 price objective on Baidu and gave the stock a “buy” rating in a research note on Tuesday, October 9th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $277.15.
Baidu stock opened at $179.56 on Friday. The stock has a market cap of $63.34 billion, a P/E ratio of 22.28, a P/E/G ratio of 0.97 and a beta of 1.60. Baidu Inc has a 52 week low of $174.66 and a 52 week high of $284.22. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.24.
COPYRIGHT VIOLATION NOTICE: This report was first published by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this report on another site, it was illegally copied and reposted in violation of United States & international copyright & trademark legislation. The correct version of this report can be read at https://www.dispatchtribunal.com/2018/12/08/baidu-inc-bidu-shares-bought-by-american-international-group-inc.html.
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.
See Also: Trading Penny Stocks
Want to see what other hedge funds are holding BIDU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Baidu Inc (NASDAQ:BIDU).
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.