Northern Trust Corp trimmed its stake in Baidu Inc (NASDAQ:BIDU) by 2.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,967,906 shares of the information services provider’s stock after selling 44,247 shares during the quarter. Northern Trust Corp owned approximately 0.56% of Baidu worth $230,954,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of BIDU. Motco purchased a new stake in shares of Baidu in the second quarter valued at $28,000. American Beacon Advisors Inc. raised its holdings in Baidu by 71.2% during 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. Westside Investment Management Inc. bought a new stake in Baidu during the second quarter worth about $33,000. Lindbrook Capital LLC boosted its position in Baidu by 290.5% during the second quarter. Lindbrook Capital LLC now owns 328 shares of the information services provider’s stock valued at $38,000 after purchasing an additional 244 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC grew its stake in Baidu by 392.2% in the second quarter. Wealthcare Advisory Partners LLC now owns 502 shares of the information services provider’s stock valued at $59,000 after purchasing an additional 400 shares in the last quarter. Institutional investors and hedge funds own 57.34% of the company’s stock.

Shares of NASDAQ BIDU traded up $1.14 during trading hours on Wednesday, reaching $111.54. 455,375 shares of the stock were exchanged, compared to its average volume of 4,602,540. The firm has a market capitalization of $36.70 billion, a price-to-earnings ratio of 14.31, a P/E/G ratio of 13.77 and a beta of 1.73. The stock’s fifty day simple moving average is $104.47 and its 200 day simple moving average is $134.05. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.61 and a current ratio of 2.61. Baidu Inc has a 52 week low of $93.39 and a 52 week high of $234.88.

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

Several research analysts have weighed in on the company. Barclays set a $135.00 price target on Baidu and gave the stock a “hold” rating in a research report on Wednesday, August 21st. Jefferies Financial Group initiated coverage on Baidu in a report on Monday, August 5th. They issued a “buy” rating and a $132.00 price objective for the company. Loop Capital started coverage on shares of Baidu in a research note on Monday, June 3rd. They issued a “hold” rating and a $125.00 target price for the company. BidaskClub downgraded shares of Baidu from a “sell” rating to a “strong sell” rating in a report on Thursday, September 5th. Finally, Nomura dropped their price target on shares of Baidu from $134.00 to $118.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 21st. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and ten have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $151.06.

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 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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