Zurcher Kantonalbank Zurich Cantonalbank Sells 2,998 Shares of Baidu Inc (NASDAQ:BIDU)

Zurcher Kantonalbank Zurich Cantonalbank lessened its holdings in Baidu Inc (NASDAQ:BIDU) by 3.0% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 98,152 shares of the information services provider’s stock after selling 2,998 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Baidu were worth $11,519,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Bank of Montreal Can raised its stake in Baidu by 219.8% during the 1st quarter. Bank of Montreal Can now owns 792,685 shares of the information services provider’s stock worth $130,674,000 after acquiring an additional 544,799 shares during the period. Strs Ohio bought a new stake in Baidu during the 1st quarter worth approximately $9,891,000. YorkBridge Wealth Partners LLC raised its stake in Baidu by 8.6% during the 1st quarter. YorkBridge Wealth Partners LLC now owns 2,739 shares of the information services provider’s stock worth $452,000 after acquiring an additional 218 shares during the period. Jacobs & Co. CA bought a new stake in Baidu during the 1st quarter worth approximately $2,144,000. Finally, Callahan Advisors LLC raised its stake in Baidu by 121.2% during the 1st quarter. Callahan Advisors LLC now owns 7,232 shares of the information services provider’s stock worth $1,192,000 after acquiring an additional 3,963 shares during the period. Hedge funds and other institutional investors own 59.61% of the company’s stock.

Shares of BIDU stock traded down $2.53 on Friday, reaching $97.36. The company’s stock had a trading volume of 2,904,397 shares, compared to its average volume of 3,382,136. The stock’s fifty day simple moving average is $112.94. Baidu Inc has a 1 year low of $96.61 and a 1 year high of $234.88. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.76 and a quick ratio of 2.76. The stock has a market capitalization of $34.90 billion, a P/E ratio of 12.48, a price-to-earnings-growth ratio of 4.56 and a beta of 1.70.

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

BIDU has been the topic of a number of recent analyst reports. Macquarie set a $131.00 target price on shares of Baidu and gave the stock a “hold” rating in a research note on Thursday, July 4th. Jefferies Financial Group initiated coverage on shares of Baidu in a research note on Monday, August 5th. They set a “buy” rating and a $132.00 target price on the stock. Barclays decreased their target price on shares of Baidu from $160.00 to $145.00 and set an “equal weight” rating on the stock in a research note on Friday, July 12th. Nomura decreased their target price on shares of Baidu from $181.00 to $147.00 and set a “neutral” rating on the stock in a research note on Monday, May 20th. Finally, China Renaissance Securities restated a “hold” rating on shares of Baidu in a research note on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and eleven have given a buy rating to the stock. Baidu presently has an average rating of “Hold” and an average price target of $175.11.

About Baidu

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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