Baidu Inc (NASDAQ:BIDU) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D reduced its position in Baidu Inc (NASDAQ:BIDU) by 4.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 339,686 shares of the information services provider’s stock after selling 17,440 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Baidu were worth $39,866,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Cetera Advisor Networks LLC raised its position in Baidu by 2.5% in the fourth quarter. Cetera Advisor Networks LLC now owns 2,654 shares of the information services provider’s stock worth $424,000 after acquiring an additional 65 shares in the last quarter. Sage Capital Advisors llc raised its position in Baidu by 0.8% in the first quarter. Sage Capital Advisors llc now owns 8,040 shares of the information services provider’s stock worth $1,325,000 after acquiring an additional 67 shares in the last quarter. Kistler Tiffany Companies LLC raised its position in Baidu by 12.6% in the first quarter. Kistler Tiffany Companies LLC now owns 663 shares of the information services provider’s stock worth $109,000 after acquiring an additional 74 shares in the last quarter. American Beacon Advisors Inc. raised its position in Baidu by 71.2% in the first quarter. American Beacon Advisors Inc. now owns 202 shares of the information services provider’s stock worth $33,000 after acquiring an additional 84 shares in the last quarter. Finally, Independent Advisor Alliance raised its position in Baidu by 5.5% in the first quarter. Independent Advisor Alliance now owns 1,735 shares of the information services provider’s stock worth $286,000 after acquiring an additional 90 shares in the last quarter. 59.29% of the stock is owned by institutional investors and hedge funds.

BIDU has been the subject of several research analyst reports. UBS Group reiterated a “hold” rating and issued a $145.00 price objective on shares of Baidu in a research report on Friday, July 5th. Zacks Investment Research cut H&E Equipment Services from a “hold” rating to a “sell” rating in a research report on Wednesday, July 17th. Oppenheimer set a $5.00 price objective on VolitionRX and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Nomura cut their price objective on Baidu from $181.00 to $147.00 and set a “neutral” rating for the company in a research report on Monday, May 20th. Finally, China Renaissance Securities reiterated a “hold” rating on shares of Baidu in a research report on Monday, April 15th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $178.17.

Shares of BIDU stock traded down $1.02 during mid-day trading on Tuesday, reaching $112.43. The stock had a trading volume of 2,148,992 shares, compared to its average volume of 2,629,820. Baidu Inc has a 12-month low of $106.80 and a 12-month high of $257.31. The firm has a market capitalization of $39.25 billion, a P/E ratio of 14.41, a P/E/G ratio of 6.16 and a beta of 1.64. The firm’s 50-day moving average is $115.05. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.76 and a current ratio of 2.76.

Baidu announced that its board has approved a share repurchase program on Thursday, May 16th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the information services provider to buy up to 1.9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is 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 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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