Saturna Capital CORP grew its holdings in Baidu Inc (NASDAQ:BIDU) by 54.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,400 shares of the information services provider’s stock after buying an additional 1,900 shares during the quarter. Saturna Capital CORP’s holdings in Baidu were worth $634,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. American Beacon Advisors Inc. lifted its holdings in shares of Baidu by 71.2% in the 1st quarter. American Beacon Advisors Inc. now owns 202 shares of the information services provider’s stock valued at $33,000 after buying an additional 84 shares during the period. Cullen Frost Bankers Inc. acquired a new stake in shares of Baidu in the 1st quarter valued at approximately $45,000. Westside Investment Management Inc. acquired a new stake in shares of Baidu in the 2nd quarter valued at approximately $33,000. Lindbrook Capital LLC lifted its holdings in shares of Baidu by 290.5% in the 2nd quarter. Lindbrook Capital LLC now owns 328 shares of the information services provider’s stock valued at $38,000 after buying an additional 244 shares during the period. Finally, Creative Financial Designs Inc. ADV lifted its holdings in shares of Baidu by 4,837.5% in the 1st quarter. Creative Financial Designs Inc. ADV now owns 395 shares of the information services provider’s stock valued at $65,000 after buying an additional 387 shares during the period. 59.44% of the stock is owned by institutional investors and hedge funds.
Several equities analysts recently issued reports on the company. Daiwa Capital Markets cut Baidu from a “buy” rating to a “neutral” rating in a report on Friday, May 17th. Deutsche Bank cut Baidu from a “buy” rating to a “hold” rating and set a $147.00 price objective for the company. in a report on Friday, May 17th. JPMorgan Chase & Co. assumed coverage on Baidu in a report on Wednesday, July 10th. They set an “overweight” rating for the company. CLSA set a $138.00 price objective on Baidu and gave the stock a “buy” rating in a report on Monday, July 8th. Finally, Mizuho reduced their price objective on Baidu from $215.00 to $205.00 and set a “buy” rating for the company in a report on Tuesday, May 7th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and eleven have issued a buy rating to the company. Baidu has an average rating of “Hold” and an average target price of $175.11.
Baidu declared that its board has authorized a share buyback program on Thursday, May 16th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the information services provider to repurchase up to 1.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
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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