Voya Investment Management LLC lifted its stake in shares of Baidu Inc (NASDAQ:BIDU) by 23.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,377 shares of the information services provider’s stock after purchasing an additional 8,177 shares during the quarter. Voya Investment Management LLC’s holdings in Baidu were worth $10,541,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Federated Investors Inc. PA acquired a new stake in Baidu in the second quarter valued at $108,000. Bartlett & Co. LLC boosted its stake in shares of Baidu by 71.0% during the second quarter. Bartlett & Co. LLC now owns 530 shares of the information services provider’s stock valued at $129,000 after acquiring an additional 220 shares during the last quarter. Valeo Financial Advisors LLC boosted its stake in shares of Baidu by 74.3% during the second quarter. Valeo Financial Advisors LLC now owns 875 shares of the information services provider’s stock valued at $191,000 after acquiring an additional 373 shares during the last quarter. Newman Dignan & Sheerar Inc. acquired a new stake in shares of Baidu during the second quarter valued at $202,000. Finally, Cynosure Advisors LLC acquired a new stake in shares of Baidu during the first quarter valued at $203,000. Institutional investors and hedge funds own 61.32% of the company’s stock.
BIDU has been the topic of a number of analyst reports. BidaskClub raised Baidu from a “hold” rating to a “buy” rating in a research note on Thursday, July 12th. KeyCorp set a $297.00 price target on Baidu and gave the stock a “buy” rating in a research note on Wednesday, August 1st. Deutsche Bank set a $337.00 price target on Baidu and gave the stock a “buy” rating in a research note on Wednesday, August 1st. Credit Suisse Group set a $313.00 price target on Baidu and gave the stock a “buy” rating in a research note on Monday, October 1st. Finally, UBS Group set a $280.00 price objective on Baidu and gave the stock a “buy” rating in a report on Tuesday. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $292.95.
NASDAQ BIDU traded up $6.36 during mid-day trading on Friday, reaching $204.36. 3,874,279 shares of the company’s stock traded hands, compared to its average volume of 3,308,830. Baidu Inc has a 1-year low of $189.00 and a 1-year high of $284.22. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 0.25. The firm has a market cap of $79.30 billion, a PE ratio of 25.35, a price-to-earnings-growth ratio of 0.97 and a beta of 1.49.
Baidu declared that its Board of Directors has approved a stock repurchase program on Wednesday, June 27th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the information services provider to buy up to 1.2% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.
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 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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