Great West Life Assurance Co. Can increased its holdings in shares of Baidu Inc (NASDAQ:BIDU) by 10.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 161,723 shares of the information services provider’s stock after purchasing an additional 15,500 shares during the quarter. Great West Life Assurance Co. Can’s holdings in Baidu were worth $39,309,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA boosted its stake in Baidu by 51.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,916,981 shares of the information services provider’s stock valued at $708,826,000 after buying an additional 990,424 shares during the last quarter. Acadian Asset Management LLC boosted its stake in Baidu by 1,443.7% during the second quarter. Acadian Asset Management LLC now owns 679,601 shares of the information services provider’s stock valued at $165,141,000 after buying an additional 635,577 shares during the last quarter. Bank of Montreal Can boosted its stake in Baidu by 234.0% during the second quarter. Bank of Montreal Can now owns 881,924 shares of the information services provider’s stock valued at $214,306,000 after buying an additional 617,862 shares during the last quarter. Overlook Holdings Ltd bought a new position in Baidu during the second quarter valued at approximately $138,341,000. Finally, Cornerstone Wealth Management LLC boosted its stake in Baidu by 24,375.1% during the second quarter. Cornerstone Wealth Management LLC now owns 401,637 shares of the information services provider’s stock valued at $1,631,000 after buying an additional 399,996 shares during the last quarter. Hedge funds and other institutional investors own 61.59% of the company’s stock.

NASDAQ:BIDU opened at $224.25 on Friday. The company has a market capitalization of $78.27 billion, a PE ratio of 27.82, a P/E/G ratio of 0.96 and a beta of 1.54. Baidu Inc has a 1 year low of $207.74 and a 1 year high of $284.22. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.00 and a quick ratio of 2.00.

Baidu announced that its board has initiated a stock repurchase plan on Wednesday, June 27th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the information services provider to purchase up to 1.2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

A number of brokerages recently commented on BIDU. Credit Suisse Group lowered Baidu from an “outperform” rating to a “neutral” rating in a research note on Friday, May 18th. BidaskClub raised Baidu from a “hold” rating to a “buy” rating in a research note on Monday, May 14th. BNP Paribas started coverage on Baidu in a research note on Thursday, June 14th. They issued a “buy” rating for the company. Sanford C. Bernstein raised Baidu from an “underperform” rating to a “market perform” rating and set a $305.00 price objective for the company in a research note on Friday, May 11th. Finally, Zacks Investment Research lowered Baidu from a “hold” rating to a “sell” rating in a research note on Wednesday, July 11th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $293.32.

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 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.

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Institutional Ownership by Quarter for Baidu (NASDAQ:BIDU)

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