APG Asset Management N.V. Sells 175,026 Shares of Baidu, Inc. (NASDAQ:BIDU)

APG Asset Management N.V. lowered its position in Baidu, Inc. (NASDAQ:BIDU) by 26.6% during the 2nd quarter, Holdings Channel reports. The firm owned 483,583 shares of the information services provider’s stock after selling 175,026 shares during the quarter. APG Asset Management N.V.’s holdings in Baidu were worth $83,146,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in BIDU. FMR LLC boosted its position in Baidu by 149.7% during the 1st quarter. FMR LLC now owns 82,956 shares of the information services provider’s stock valued at $13,674,000 after acquiring an additional 49,735 shares in the last quarter. E Fund Management Co. Ltd. purchased a new stake in shares of Baidu during the 1st quarter valued at $53,797,000. Quilter Plc purchased a new stake in shares of Baidu during the 1st quarter valued at $1,003,000. CIBC Private Wealth Group LLC lifted its holdings in shares of Baidu by 1.7% during the 1st quarter. CIBC Private Wealth Group LLC now owns 9,615 shares of the information services provider’s stock valued at $2,092,000 after purchasing an additional 158 shares during the last quarter. Finally, Quadrant Capital Group LLC lifted its holdings in shares of Baidu by 16.1% during the 1st quarter. Quadrant Capital Group LLC now owns 928 shares of the information services provider’s stock valued at $202,000 after purchasing an additional 129 shares during the last quarter. 46.17% of the stock is currently owned by institutional investors.

NASDAQ:BIDU opened at $163.85 on Thursday. Baidu, Inc. has a 52 week low of $127.35 and a 52 week high of $354.82. The company has a quick ratio of 3.09, a current ratio of 3.09 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $54.99 billion, a PE ratio of 8.55, a price-to-earnings-growth ratio of 15.26 and a beta of 1.01. The stock’s 50-day moving average price is $156.82 and its 200-day moving average price is $181.36.

BIDU has been the subject of several analyst reports. Benchmark decreased their price objective on Baidu from $370.00 to $357.00 and set a “buy” rating for the company in a report on Friday, August 13th. Bank of America decreased their price objective on Baidu from $333.00 to $286.00 and set a “buy” rating for the company in a report on Friday, August 13th. Zacks Investment Research upgraded Baidu from a “strong sell” rating to a “hold” rating in a report on Tuesday. KeyCorp reduced their target price on Baidu from $332.00 to $270.00 and set an “overweight” rating for the company in a research note on Friday, August 13th. Finally, Erste Group lowered Baidu from a “hold” rating to a “sell” rating in a research note on Friday, August 20th. One analyst has rated the stock with a sell rating, three have given a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Baidu has a consensus rating of “Buy” and a consensus target price of $286.00.

About Baidu

Baidu, Inc engages in the provision of internet search and online marketing solutions. The firm’s products and services include Baidu App, Baidu Search, Baidu Feed, Haokan, Quanmin, Baidu Post Bar, Baidu Knows, Baidu Encyclopedia, Baidu Input Method Editor or Baidu IME and Overseas Products. It operates through the following segments: Baidu Core and iQIYI.

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Institutional Ownership by Quarter for Baidu (NASDAQ:BIDU)

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