Cypress Wealth Advisors LLC lowered its holdings in Baidu Inc (NASDAQ:BIDU) by 2.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,594 shares of the information services provider’s stock after selling 117 shares during the period. Cypress Wealth Advisors LLC’s holdings in Baidu were worth $757,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. bought a new position in shares of Baidu during the 4th quarter valued at about $26,000. American Beacon Advisors Inc. increased its position in shares of Baidu by 71.2% during the 1st quarter. American Beacon Advisors Inc. now owns 202 shares of the information services provider’s stock valued at $33,000 after purchasing an additional 84 shares during the last quarter. Semmax Financial Advisors Inc. bought a new position in shares of Baidu during the 4th quarter valued at about $33,000. Rational Advisors LLC increased its position in shares of Baidu by 1,400.0% during the 4th quarter. Rational Advisors LLC now owns 210 shares of the information services provider’s stock valued at $33,000 after purchasing an additional 196 shares during the last quarter. Finally, Oakworth Capital Inc. bought a new position in shares of Baidu during the 4th quarter valued at about $39,000. 59.51% of the stock is currently owned by hedge funds and other institutional investors.
BIDU opened at $113.08 on Monday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.76 and a current ratio of 2.76. Baidu Inc has a 1 year low of $106.80 and a 1 year high of $274.00. The company has a market cap of $39.50 billion, a P/E ratio of 18.09, a P/E/G ratio of 6.15 and a beta of 1.69.
Baidu declared that its board has initiated a stock repurchase program on Thursday, May 16th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the information services provider to purchase up to 1.9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
Several brokerages have recently commented on BIDU. BidaskClub upgraded Baidu from a “sell” rating to a “hold” rating in a research report on Wednesday, April 10th. Credit Suisse Group set a $221.00 price objective on Baidu and gave the company a “buy” rating in a research report on Wednesday, April 10th. Nomura reduced their price objective on Baidu from $181.00 to $147.00 and set a “neutral” rating on the stock in a research report on Monday, May 20th. Morgan Stanley set a $175.00 price objective on Baidu and gave the company a “hold” rating in a research report on Tuesday, March 26th. Finally, Mizuho reduced their price objective on Baidu from $215.00 to $205.00 and set a “buy” rating on the stock in a research report on Tuesday, May 7th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $191.69.
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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 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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