Baidu Inc (NASDAQ:BIDU) Holdings Cut by Rehmann Capital Advisory Group

Rehmann Capital Advisory Group lowered its holdings in Baidu Inc (NASDAQ:BIDU) by 60.7% during the second quarter, HoldingsChannel.com reports. The fund owned 709 shares of the information services provider’s stock after selling 1,094 shares during the period. Rehmann Capital Advisory Group’s holdings in Baidu were worth $83,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of BIDU. SG Americas Securities LLC increased its stake in shares of Baidu by 604.1% during the second quarter. SG Americas Securities LLC now owns 1,576,463 shares of the information services provider’s stock valued at $185,014,000 after acquiring an additional 1,352,573 shares during the period. Tweedy Browne Co LLC increased its stake in shares of Baidu by 64.8% during the second quarter. Tweedy Browne Co LLC now owns 2,367,889 shares of the information services provider’s stock valued at $277,895,000 after acquiring an additional 930,874 shares during the period. Prudential PLC increased its stake in shares of Baidu by 44.5% during the second quarter. Prudential PLC now owns 2,216,196 shares of the information services provider’s stock valued at $259,933,000 after acquiring an additional 681,970 shares during the period. Nuveen Asset Management LLC increased its stake in shares of Baidu by 1,299.7% during the second quarter. Nuveen Asset Management LLC now owns 677,245 shares of the information services provider’s stock valued at $79,482,000 after acquiring an additional 628,859 shares during the period. Finally, Bank of Montreal Can grew its position in Baidu by 67.6% in the second quarter. Bank of Montreal Can now owns 1,328,677 shares of the information services provider’s stock worth $155,933,000 after buying an additional 535,992 shares during the last quarter. 56.74% of the stock is currently owned by hedge funds and other institutional investors.

Shares of BIDU stock traded up $0.15 on Friday, hitting $104.47. The company’s stock had a trading volume of 1,366,827 shares, compared to its average volume of 3,719,614. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.61 and a quick ratio of 2.61. Baidu Inc has a fifty-two week low of $93.39 and a fifty-two week high of $209.22. The firm’s fifty day moving average price is $104.15 and its 200-day moving average price is $127.13. The stock has a market capitalization of $36.50 billion, a price-to-earnings ratio of 13.39, a P/E/G ratio of 13.37 and a beta of 1.74.

Several research analysts have issued reports on BIDU shares. Zacks Investment Research upgraded shares of Baidu from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 17th. Benchmark decreased their price objective on shares of Baidu to $165.00 and set a “buy” rating for the company in a research note on Tuesday, August 20th. CLSA set a $138.00 price objective on shares of Baidu and gave the stock a “buy” rating in a research note on Monday, July 8th. BidaskClub lowered shares of Baidu from a “hold” rating to a “sell” rating in a research note on Friday, September 20th. Finally, Macquarie set a $131.00 price objective on shares of Baidu and gave the stock a “hold” rating in a research note on Thursday, July 4th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and ten have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $151.22.

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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