Strs Ohio Cuts Stock Position in Baidu, Inc. $BIDU

Strs Ohio decreased its position in shares of Baidu, Inc. (NASDAQ:BIDU) by 50.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,747 shares of the information services provider’s stock after selling 5,913 shares during the period. Strs Ohio’s holdings in Baidu were worth $640,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Binnacle Investments Inc acquired a new position in shares of Baidu in the second quarter valued at approximately $29,000. Sankala Group LLC acquired a new stake in Baidu during the 4th quarter worth approximately $46,000. Brown Brothers Harriman & Co. boosted its position in Baidu by 35.0% in the 4th quarter. Brown Brothers Harriman & Co. now owns 405 shares of the information services provider’s stock valued at $53,000 after buying an additional 105 shares during the period. UMB Bank n.a. boosted its position in Baidu by 25.9% in the 4th quarter. UMB Bank n.a. now owns 428 shares of the information services provider’s stock valued at $56,000 after buying an additional 88 shares during the period. Finally, Winthrop Capital Management LLC acquired a new position in shares of Baidu in the fourth quarter worth $59,000.

Baidu Stock Performance

Shares of Baidu stock opened at $117.51 on Friday. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.22. Baidu, Inc. has a 52 week low of $84.64 and a 52 week high of $165.30. The firm’s 50 day moving average is $124.29 and its two-hundred day moving average is $128.74. The firm has a market capitalization of $39.98 billion, a P/E ratio of -979.17, a P/E/G ratio of 2.01 and a beta of 0.56.

Analysts Set New Price Targets

A number of research firms have recently weighed in on BIDU. Citigroup reaffirmed a “buy” rating on shares of Baidu in a research report on Tuesday, June 23rd. Benchmark reissued a “buy” rating and set a $215.00 target price on shares of Baidu in a research note on Tuesday, May 19th. Zacks Research upgraded Baidu from a “strong sell” rating to a “hold” rating in a report on Monday, June 15th. Weiss Ratings lowered Baidu from a “hold (c-)” rating to a “sell (d)” rating in a research report on Monday, May 18th. Finally, Wall Street Zen upgraded Baidu from a “sell” rating to a “hold” rating in a research note on Monday, May 25th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Baidu has an average rating of “Moderate Buy” and an average price target of $162.58.

Baidu Company Profile

Baidu, Inc, founded in 2000 and headquartered in Beijing, is a Chinese multinational technology company best known for operating one of China’s leading internet search engines. The company built its business around online search and related advertising services, providing search, content aggregation and targeted ad placements to consumers and marketers across China. Baidu went public on the NASDAQ in 2005 and has since diversified beyond search into a broader technology and AI-focused portfolio.

Core products and services include the Baidu search platform and mobile app, Baidu Maps and Baidu Baike (an online encyclopedia), along with digital content initiatives.