Rothschild Capital Partners LLC bought a new stake in Baidu Inc (NASDAQ:BIDU) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 2,995 shares of the information services provider’s stock, valued at approximately $494,000.
Several other hedge funds and other institutional investors also recently modified their holdings of BIDU. Bank of Montreal Can increased its stake in Baidu by 219.8% in the 1st quarter. Bank of Montreal Can now owns 792,685 shares of the information services provider’s stock worth $130,674,000 after purchasing an additional 544,799 shares in the last quarter. Polen Capital Management LLC increased its stake in Baidu by 19.3% in the 4th quarter. Polen Capital Management LLC now owns 38,666 shares of the information services provider’s stock worth $6,132,000 after purchasing an additional 6,267 shares in the last quarter. Pzena Investment Management LLC increased its stake in Baidu by 9.8% in the 4th quarter. Pzena Investment Management LLC now owns 429,238 shares of the information services provider’s stock worth $68,078,000 after purchasing an additional 38,419 shares in the last quarter. Strs Ohio purchased a new position in Baidu in the 1st quarter worth about $9,891,000. Finally, Jacobs & Co. CA purchased a new position in Baidu in the 1st quarter worth about $2,144,000. Institutional investors and hedge funds own 60.69% of the company’s stock.
BIDU traded down $20.78 on Friday, hitting $132.92. The company had a trading volume of 13,576,523 shares, compared to its average volume of 2,935,181. Baidu Inc has a 1-year low of $150.02 and a 1-year high of $283.95. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.73 and a current ratio of 2.73. The firm has a market cap of $53.27 billion, a P/E ratio of 17.04, a price-to-earnings-growth ratio of 4.35 and a beta of 1.44.
Baidu announced that its board has authorized a stock buyback program on Thursday, May 16th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the information services provider to purchase up to 1.9% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its shares are undervalued.
A number of equities analysts recently weighed in on the company. Deutsche Bank cut Baidu from a “buy” rating to a “hold” rating and set a $147.00 price target on the stock. in a research note on Friday. Benchmark dropped their price target on Baidu from $245.00 to $180.00 and set a “buy” rating on the stock in a research note on Friday. BidaskClub cut Baidu from a “sell” rating to a “strong sell” rating in a research note on Friday, May 10th. Mizuho dropped their price target on Baidu from $215.00 to $205.00 and set a “buy” rating on the stock in a research note on Tuesday, May 7th. Finally, Zacks Investment Research lowered Baidu from a “hold” rating to a “strong sell” rating in a research report on Wednesday, April 24th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $210.14.
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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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