MAI Capital Management reduced its stake in Baidu Inc (NASDAQ:BIDU) by 1.5% during the 3rd quarter, Holdings Channel reports. The firm owned 16,669 shares of the information services provider’s stock after selling 255 shares during the period. MAI Capital Management’s holdings in Baidu were worth $3,812,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in BIDU. BlackRock Inc. boosted its stake in shares of Baidu by 2.1% in the second quarter. BlackRock Inc. now owns 14,125,549 shares of the information services provider’s stock valued at $3,432,507,000 after buying an additional 284,768 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Baidu by 51.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,916,981 shares of the information services provider’s stock valued at $708,826,000 after buying an additional 990,424 shares in the last quarter. OppenheimerFunds Inc. boosted 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 valued at $644,976,000 after buying an additional 85,932 shares in the last quarter. Bank of America Corp DE boosted 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 valued at $379,099,000 after buying an additional 196,031 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in shares of Baidu by 3.9% in the second quarter. Legal & General Group Plc now owns 1,361,263 shares of the information services provider’s stock valued at $330,787,000 after buying an additional 51,048 shares in the last quarter. Institutional investors own 61.32% of the company’s stock.

BIDU opened at $204.36 on Friday. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 0.25. The firm has a market cap of $79.30 billion, a price-to-earnings ratio of 25.35, a PEG ratio of 0.97 and a beta of 1.49. Baidu Inc has a one year low of $189.00 and a one year high of $284.22.

Baidu announced that its board has approved a share buyback program on Wednesday, June 27th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the information services provider to purchase up to 1.2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

A number of research firms recently weighed in on BIDU. Credit Suisse Group upgraded Baidu from a “neutral” rating to an “outperform” rating and set a $307.00 price target on the stock in a research note on Monday, July 9th. BidaskClub upgraded Baidu from a “hold” rating to a “buy” rating in a research note on Thursday, July 12th. Zacks Investment Research downgraded Baidu from a “hold” rating to a “sell” rating in a research note on Wednesday, July 11th. Deutsche Bank set a $337.00 price target on Baidu and gave the company a “buy” rating in a research note on Wednesday, August 1st. Finally, ValuEngine upgraded Baidu from a “sell” rating to a “hold” rating in a research note on Friday, September 21st. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. Baidu presently has a consensus rating of “Buy” and an average target price of $292.95.

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 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.

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Institutional Ownership by Quarter for Baidu (NASDAQ:BIDU)

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