Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Baidu Inc (NASDAQ:BIDU) by 1.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,743,659 shares of the information services provider’s stock after buying an additional 24,286 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Baidu were worth $287,442,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of BIDU. Vanguard Group Inc increased its holdings in shares of Baidu by 1.1% in the third quarter. Vanguard Group Inc now owns 9,668,953 shares of the information services provider’s stock valued at $2,211,097,000 after purchasing an additional 104,819 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Baidu by 9.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,607,166 shares of the information services provider’s stock valued at $572,096,000 after purchasing an additional 306,202 shares during the last quarter. Norges Bank acquired a new position in shares of Baidu in the fourth quarter valued at $526,416,000. Comgest Global Investors S.A.S. increased its holdings in shares of Baidu by 15.4% in the fourth quarter. Comgest Global Investors S.A.S. now owns 3,180,255 shares of the information services provider’s stock valued at $504,389,000 after purchasing an additional 425,375 shares during the last quarter. Finally, Harris Associates L P boosted its position in shares of Baidu by 49.6% in the fourth quarter. Harris Associates L P now owns 3,155,245 shares of the information services provider’s stock valued at $500,422,000 after acquiring an additional 1,046,123 shares during the period. Institutional investors and hedge funds own 60.69% of the company’s stock.

BIDU traded down $10.83 on Monday, hitting $117.48. 8,602,156 shares of the stock were exchanged, compared to its average volume of 3,083,209. Baidu Inc has a 12 month low of $126.91 and a 12 month high of $274.00. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $44.82 billion, a price-to-earnings ratio of 15.06, a P/E/G ratio of 3.66 and a beta of 1.44.

Baidu announced that its board has authorized a stock buyback program on Thursday, May 16th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the information services provider to buy up to 1.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

A number of brokerages have recently issued reports on BIDU. Credit Suisse Group set a $221.00 target price on shares of Baidu and gave the company a “buy” rating in a research report on Wednesday, April 10th. BidaskClub raised shares of Baidu from a “sell” rating to a “hold” rating in a research report on Wednesday, April 10th. Barclays reduced their target price on shares of Baidu from $200.00 to $160.00 and set an “equal weight” rating for the company in a research report on Monday. UBS Group cut shares of Baidu from a “buy” rating to a “neutral” rating in a research report on Monday. Finally, Morgan Stanley set a $175.00 target price on shares of Baidu and gave the company a “hold” rating in a research report on Tuesday, March 26th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $204.36.

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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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Institutional Ownership by Quarter for Baidu (NASDAQ:BIDU)

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