SeaBridge Investment Advisors LLC Cuts Holdings in Baidu Inc (NASDAQ:BIDU)

SeaBridge Investment Advisors LLC reduced its position in Baidu Inc (NASDAQ:BIDU) by 9.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,368 shares of the information services provider’s stock after selling 543 shares during the quarter. SeaBridge Investment Advisors LLC’s holdings in Baidu were worth $552,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Advisor Group Inc. raised its position in shares of Baidu by 17.2% in the 2nd quarter. Advisor Group Inc. now owns 29,120 shares of the information services provider’s stock worth $3,417,000 after buying an additional 4,268 shares during the period. Capital Investment Advisory Services LLC raised its position in Baidu by 2,061.5% in the second quarter. Capital Investment Advisory Services LLC now owns 562 shares of the information services provider’s stock valued at $63,000 after purchasing an additional 536 shares during the period. Daiwa Securities Group Inc. raised its position in Baidu by 36.2% in the second quarter. Daiwa Securities Group Inc. now owns 61,503 shares of the information services provider’s stock valued at $7,218,000 after purchasing an additional 16,353 shares during the period. Asset Management One Co. Ltd. raised its position in Baidu by 23.5% in the second quarter. Asset Management One Co. Ltd. now owns 93,635 shares of the information services provider’s stock valued at $10,988,000 after purchasing an additional 17,840 shares during the period. Finally, Cambridge Investment Research Advisors Inc. raised its position in Baidu by 11.1% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 27,793 shares of the information services provider’s stock valued at $3,262,000 after purchasing an additional 2,780 shares during the period. 56.73% of the stock is currently owned by institutional investors and hedge funds.

Shares of Baidu stock traded down $0.23 during trading hours on Wednesday, hitting $103.40. 761,748 shares of the company’s stock traded hands, compared to its average volume of 3,324,517. The stock has a 50 day simple moving average of $104.70 and a 200-day simple moving average of $121.37. 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 $36.46 billion, a PE ratio of 13.26, a PEG ratio of 13.68 and a beta of 1.74. Baidu Inc has a twelve month low of $93.39 and a twelve month high of $206.25.

Several research analysts have commented on BIDU shares. Credit Suisse Group reissued an “outperform” rating on shares of Baidu in a research report on Wednesday, July 17th. KeyCorp cut their price objective on Baidu from $152.00 to $149.00 and set an “overweight” rating on the stock in a research report on Monday. Jefferies Financial Group set a $133.00 price objective on Baidu and gave the company a “buy” rating in a research report on Friday, October 18th. Morgan Stanley set a $125.00 price objective on Baidu and gave the company a “hold” rating in a research report on Tuesday, August 20th. Finally, UBS Group reissued a “hold” rating and issued a $145.00 price objective on shares of Baidu in a research report on Friday, July 5th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $149.58.

Baidu 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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Institutional Ownership by Quarter for Baidu (NASDAQ:BIDU)

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