Sunbelt Securities Inc. Sells 322 Shares of Baidu, Inc. (NASDAQ:BIDU)

Sunbelt Securities Inc. lowered its position in Baidu, Inc. (NASDAQ:BIDUGet Rating) by 11.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,495 shares of the information services provider’s stock after selling 322 shares during the period. Sunbelt Securities Inc.’s holdings in Baidu were worth $293,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Advisors Capital Management LLC lifted its holdings in shares of Baidu by 1.0% during the third quarter. Advisors Capital Management LLC now owns 32,252 shares of the information services provider’s stock valued at $2,949,000 after purchasing an additional 326 shares in the last quarter. Thrivent Financial for Lutherans boosted its holdings in shares of Baidu by 17.4% during the 3rd quarter. Thrivent Financial for Lutherans now owns 44,352 shares of the information services provider’s stock valued at $5,211,000 after acquiring an additional 6,572 shares during the last quarter. Pathstone Family Office LLC purchased a new stake in shares of Baidu during the 3rd quarter valued at about $435,000. Pinpoint Asset Management Ltd bought a new stake in shares of Baidu in the third quarter worth approximately $5,240,000. Finally, Portland Hill Asset Management Ltd raised its holdings in shares of Baidu by 4.0% during the third quarter. Portland Hill Asset Management Ltd now owns 3,023 shares of the information services provider’s stock valued at $236,000 after purchasing an additional 116 shares during the last quarter. Institutional investors own 23.06% of the company’s stock.

Baidu Stock Performance

BIDU stock opened at $146.84 on Friday. Baidu, Inc. has a one year low of $73.58 and a one year high of $160.88. The firm has a market cap of $50.74 billion, a price-to-earnings ratio of 50.81, a PEG ratio of 0.71 and a beta of 0.68. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.46 and a current ratio of 2.67. The firm has a 50-day simple moving average of $140.49 and a two-hundred day simple moving average of $120.84.

Baidu announced that its Board of Directors has authorized a stock buyback plan on Wednesday, February 22nd that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the information services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

A number of equities research analysts have weighed in on BIDU shares. Susquehanna Bancshares decreased their target price on shares of Baidu from $195.00 to $150.00 in a research note on Wednesday, December 14th. Morgan Stanley cut their price target on Baidu from $140.00 to $120.00 in a research note on Wednesday, November 23rd. UBS Group increased their price objective on shares of Baidu from $182.00 to $185.00 in a research note on Thursday, February 23rd. Mizuho boosted their target price on shares of Baidu from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, February 23rd. Finally, Bank of America reiterated a “buy” rating and issued a $224.00 price target on shares of Baidu in a research report on Monday, November 28th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $181.06.

Baidu Profile

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Baidu, Inc engages in the provision of internet search and online marketing solutions. The firm’s products and services include Baidu App, Baidu Search, Baidu Feed, Haokan, Quanmin, Baidu Post Bar, Baidu Knows, Baidu Encyclopedia, Baidu Input Method Editor or Baidu IME and Overseas Products. It operates through the following segments: Baidu Core and iQIYI.

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Institutional Ownership by Quarter for Baidu (NASDAQ:BIDU)

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