Shell Asset Management Co. lowered its holdings in shares of Baidu Inc (NASDAQ:BIDU) by 2.6% during the first quarter, HoldingsChannel reports. The firm owned 75,215 shares of the information services provider’s stock after selling 2,022 shares during the period. Shell Asset Management Co.’s holdings in Baidu were worth $12,399,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc grew its stake in shares of Baidu by 1.1% during the 3rd quarter. Vanguard Group Inc now owns 9,668,953 shares of the information services provider’s stock valued at $2,211,097,000 after purchasing an additional 104,819 shares during the period. NuWave Investment Management LLC grew its stake in shares of Baidu by 9,485.7% during the 4th quarter. NuWave Investment Management LLC now owns 1,342 shares of the information services provider’s stock valued at $213,000 after purchasing an additional 1,328 shares during the period. Assenagon Asset Management S.A. bought a new stake in shares of Baidu during the 4th quarter valued at about $222,000. Regal Wealth Group Inc. bought a new stake in shares of Baidu during the 4th quarter valued at about $32,000. Finally, Leavell Investment Management Inc. bought a new stake in shares of Baidu during the 4th quarter valued at about $317,000. Institutional investors own 59.80% of the company’s stock.

Shares of BIDU stock traded down $2.09 during trading hours on Thursday, reaching $118.40. 5,408,110 shares of the company traded hands, compared to its average volume of 5,659,228. Baidu Inc has a 12-month low of $116.78 and a 12-month high of $274.00. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.31. The stock has a market cap of $42.09 billion, a P/E ratio of 15.18, a PEG ratio of 3.88 and a beta of 1.44.

Baidu declared that its board has approved a share buyback program 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 shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

A number of equities research analysts have issued reports on BIDU shares. Zacks Investment Research downgraded Baidu from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 24th. Benchmark lowered their price objective on Baidu from $245.00 to $180.00 and set a “buy” rating on the stock in a research report on Friday, May 17th. KeyCorp set a $236.00 price objective on Baidu and gave the company a “positive” rating in a research report on Wednesday, January 23rd. Deutsche Bank cut Baidu from a “buy” rating to a “hold” rating and set a $147.00 price objective on the stock. in a research report on Friday, May 17th. Finally, BidaskClub raised Baidu from a “strong sell” rating to a “sell” rating in a research report on Thursday, April 4th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $196.13.

TRADEMARK VIOLATION NOTICE: “Baidu Inc (BIDU) Holdings Cut by Shell Asset Management Co.” was first reported by TheOlympiaReport and is the sole property of of TheOlympiaReport. If you are viewing this piece of content on another publication, it was illegally copied and reposted in violation of US & international copyright and trademark law. The legal version of this piece of content can be viewed at https://theolympiareport.com/2019/05/23/baidu-inc-bidu-holdings-cut-by-shell-asset-management-co.html.

About Baidu

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.

See Also: Return On Assets

Want to see what other hedge funds are holding BIDU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Baidu Inc (NASDAQ:BIDU).

Institutional Ownership by Quarter for Baidu (NASDAQ:BIDU)

Receive News & Ratings for Baidu Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Baidu and related companies with MarketBeat.com's FREE daily email newsletter.