People s United Financial Inc. lowered its stake in shares of Baidu Inc (NASDAQ:BIDU) by 14.7% during the 3rd quarter, Holdings Channel reports. The firm owned 6,252 shares of the information services provider’s stock after selling 1,074 shares during the quarter. People s United Financial Inc.’s holdings in Baidu were worth $1,429,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BIDU. Federated Investors Inc. PA bought a new position in shares of Baidu during the 2nd quarter valued at approximately $108,000. Flagship Harbor Advisors LLC bought a new position in shares of Baidu during the 2nd quarter valued at approximately $119,000. Toronto Dominion Bank grew its position in Baidu by 5,050.0% in the 3rd quarter. Toronto Dominion Bank now owns 618 shares of the information services provider’s stock valued at $141,000 after acquiring an additional 606 shares during the last quarter. Centaurus Financial Inc. bought a new position in Baidu in the 2nd quarter valued at $150,000. Finally, CENTRAL TRUST Co grew its position in Baidu by 116.0% in the 3rd quarter. CENTRAL TRUST Co now owns 741 shares of the information services provider’s stock valued at $170,000 after acquiring an additional 398 shares during the last quarter. 60.81% of the stock is currently owned by hedge funds and other institutional investors.
BIDU opened at $179.56 on Friday. Baidu Inc has a 12-month low of $174.66 and a 12-month high of $284.22. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.66 and a current ratio of 2.66. The firm has a market cap of $62.66 billion, a PE ratio of 22.28, a PEG ratio of 0.96 and a beta of 1.60.
BIDU has been the topic of several research analyst reports. UBS Group set a $280.00 price objective on Baidu and gave the company a “buy” rating in a research report on Tuesday, October 9th. Credit Suisse Group set a $313.00 price objective on Baidu and gave the company a “buy” rating in a research report on Monday, October 1st. Deutsche Bank set a $369.00 price objective on Baidu and gave the company a “buy” rating in a research report on Monday, October 29th. Benchmark cut their price objective on Baidu from $300.00 to $260.00 and set a “buy” rating on the stock in a research report on Wednesday, October 31st. Finally, ValuEngine raised Baidu from a “sell” rating to a “hold” rating in a research report on Friday, September 21st. Three research analysts have rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $277.15.
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 mobile browsers; Baidu Feed that provides users with personalized timeline to meet their personal interests reflected in their past online behaviors, such as search and browsing, and their demographics; and Bear Paw Account that enables verified brands and businesses to aggregate their content from Websites, wapsites, and open-platform apps.
Further Reading: Risk Tolerance
Want to see what other hedge funds are holding BIDU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Baidu Inc (NASDAQ:BIDU).
Receive News & Ratings for Baidu Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Baidu and related companies with MarketBeat.com's FREE daily email newsletter.