Strategic Wealth Partners Ltd. Sells 228 Shares of Baidu Inc (NASDAQ:BIDU)

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Strategic Wealth Partners Ltd. trimmed its position in shares of Baidu Inc (NASDAQ:BIDU) by 34.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 428 shares of the information services provider’s stock after selling 228 shares during the quarter. Strategic Wealth Partners Ltd.’s holdings in Baidu were worth $50,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BIDU. SG Americas Securities LLC lifted its holdings in shares of Baidu by 604.1% during the 2nd quarter. SG Americas Securities LLC now owns 1,576,463 shares of the information services provider’s stock valued at $185,014,000 after buying an additional 1,352,573 shares during the period. Tweedy Browne Co LLC lifted its holdings in shares of Baidu by 64.8% during the 2nd quarter. Tweedy Browne Co LLC now owns 2,367,889 shares of the information services provider’s stock valued at $277,895,000 after buying an additional 930,874 shares during the period. BlackRock Inc. lifted its holdings in shares of Baidu by 4.3% during the 1st quarter. BlackRock Inc. now owns 15,784,632 shares of the information services provider’s stock valued at $2,602,096,000 after buying an additional 653,684 shares during the period. Bank of Montreal Can lifted its holdings in shares of Baidu by 219.8% during the 1st quarter. Bank of Montreal Can now owns 792,685 shares of the information services provider’s stock valued at $130,674,000 after buying an additional 544,799 shares during the period. Finally, Thoroughbred Financial Services LLC lifted its holdings in shares of Baidu by 11,526.3% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 360,647 shares of the information services provider’s stock valued at $36,065,000 after buying an additional 357,545 shares during the period. 58.10% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ:BIDU traded down $3.60 on Friday, reaching $101.85. 4,979,564 shares of the company’s stock traded hands, compared to its average volume of 5,068,792. The company has a quick ratio of 2.76, a current ratio of 2.76 and a debt-to-equity ratio of 0.34. The stock has a 50-day simple moving average of $108.14 and a 200-day simple moving average of $140.12. The firm has a market cap of $36.84 billion, a PE ratio of 13.06, a P/E/G ratio of 13.82 and a beta of 1.70. Baidu Inc has a 12 month low of $93.39 and a 12 month high of $234.88.

Baidu announced that its board has approved a share buyback plan on Thursday, May 16th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the information services provider to purchase up to 1.9% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

A number of equities analysts recently commented on the company. Morgan Stanley set a $125.00 target price on Baidu and gave the stock a “hold” rating in a report on Tuesday, August 20th. UBS Group reaffirmed a “hold” rating and issued a $145.00 target price on shares of Baidu in a report on Friday, July 5th. Deutsche Bank cut Baidu from a “buy” rating to a “hold” rating and set a $147.00 target price on the stock. in a report on Friday, May 17th. Loop Capital assumed coverage on Baidu in a report on Monday, June 3rd. They issued a “hold” rating and a $125.00 target price on the stock. Finally, ValuEngine raised Baidu from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and eleven have issued a buy rating to the stock. Baidu currently has an average rating of “Hold” and a consensus price target of $165.84.

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 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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