IFP Advisors Inc raised its stake in shares of Baidu Inc (NASDAQ:BIDU) by 29.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,136 shares of the information services provider’s stock after buying an additional 486 shares during the period. IFP Advisors Inc’s holdings in Baidu were worth $519,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in BIDU. Deltec Asset Management LLC grew its position in Baidu by 19.4% during the second quarter. Deltec Asset Management LLC now owns 2,150 shares of the information services provider’s stock valued at $522,000 after buying an additional 350 shares during the period. ARK Investment Management LLC increased its stake in Baidu by 29.1% during the 2nd quarter. ARK Investment Management LLC now owns 415,392 shares of the information services provider’s stock worth $100,940,000 after buying an additional 93,728 shares during the period. Timber Creek Capital Management LLC grew its holdings in Baidu by 4.1% during the 2nd quarter. Timber Creek Capital Management LLC now owns 11,733 shares of the information services provider’s stock worth $2,851,000 after acquiring an additional 461 shares in the last quarter. NF Trinity Capital Hong Kong Ltd grew its holdings in Baidu by 2.0% during the 2nd quarter. NF Trinity Capital Hong Kong Ltd now owns 70,157 shares of the information services provider’s stock worth $17,048,000 after acquiring an additional 1,400 shares in the last quarter. Finally, Cottage Street Advisors LLC grew its holdings in Baidu by 21.7% during the 2nd quarter. Cottage Street Advisors LLC now owns 2,800 shares of the information services provider’s stock worth $681,000 after acquiring an additional 500 shares in the last quarter. Institutional investors and hedge funds own 61.40% of the company’s stock.

BIDU has been the subject of several research analyst reports. BidaskClub cut shares of Baidu from a “buy” rating to a “hold” rating in a report on Tuesday, May 22nd. BNP Paribas assumed coverage on shares of Baidu in a research report on Thursday, June 14th. They issued a “buy” rating for the company. Zacks Investment Research downgraded shares of Baidu from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 3rd. Credit Suisse Group upgraded shares of Baidu from a “neutral” rating to an “outperform” rating and set a $307.00 price target for the company in a report on Monday, July 9th. Finally, Deutsche Bank set a $337.00 price target on shares of Baidu and gave the company a “buy” rating in a report on Wednesday, August 1st. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. Baidu presently has a consensus rating of “Buy” and an average price target of $295.19.

Shares of BIDU stock traded down $2.39 during mid-day trading on Friday, reaching $220.03. 2,198,308 shares of the company were exchanged, compared to its average volume of 2,535,894. The company has a market capitalization of $75.83 billion, a P/E ratio of 27.30, a PEG ratio of 0.93 and a beta of 1.54. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 0.25. Baidu Inc has a fifty-two week low of $207.74 and a fifty-two week high of $284.22.

Baidu declared that its board has approved a share repurchase program on Wednesday, June 27th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the information services provider to reacquire up to 1.2% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

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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