Cambridge Investment Research Advisors Inc. decreased its stake in shares of Baidu Inc (NASDAQ:BIDU) by 34.6% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 21,858 shares of the information services provider’s stock after selling 11,571 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Baidu were worth $2,621,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP bought a new position in Baidu during the first quarter valued at about $5,041,000. Marathon Asset Management LLP increased its position in shares of Baidu by 12.0% during the second quarter. Marathon Asset Management LLP now owns 1,675,705 shares of the information services provider’s stock valued at $200,897,000 after purchasing an additional 180,031 shares during the period. Vident Investment Advisory LLC acquired a new position in shares of Baidu in the first quarter valued at $542,000. MERIAN GLOBAL INVESTORS UK Ltd bought a new position in Baidu in the second quarter worth $632,000. Finally, The Manufacturers Life Insurance Company lifted its position in Baidu by 249.0% in the first quarter. The Manufacturers Life Insurance Company now owns 210,122 shares of the information services provider’s stock worth $21,178,000 after purchasing an additional 149,922 shares during the period. 53.18% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have recently commented on the stock. Nomura Instinet raised their price objective on shares of Baidu from $120.00 to $123.00 and gave the stock a “neutral” rating in a report on Wednesday, May 20th. Mizuho cut their price target on shares of Baidu from $175.00 to $170.00 and set a “buy” rating for the company in a research note on Tuesday, July 28th. Oppenheimer reaffirmed a “buy” rating and set a $155.00 price objective on shares of Baidu in a report on Monday, April 27th. BOCOM International raised Baidu from a “neutral” rating to a “buy” rating in a report on Tuesday, May 19th. Finally, Zacks Investment Research lowered Baidu from a “hold” rating to a “sell” rating in a research note on Tuesday, July 21st. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and sixteen have given a buy rating to the company’s stock. Baidu presently has an average rating of “Buy” and a consensus target price of $143.21.
Shares of BIDU opened at $119.40 on Friday. The stock’s fifty day simple moving average is $122.79 and its 200-day simple moving average is $115.04. The firm has a market capitalization of $41.29 billion, a PE ratio of 19.67, a price-to-earnings-growth ratio of 5.25 and a beta of 1.45. Baidu Inc has a 12-month low of $82.00 and a 12-month high of $147.38. The company has a quick ratio of 2.95, a current ratio of 2.95 and a debt-to-equity ratio of 0.35.
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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