Foresight Wealth Management LLC Raises Stake in Baidu Inc (NASDAQ:BIDU)

Foresight Wealth Management LLC raised its position in Baidu Inc (NASDAQ:BIDU) by 23.2% in the second quarter, Holdings Channel reports. The fund owned 1,954 shares of the information services provider’s stock after buying an additional 368 shares during the period. Foresight Wealth Management LLC’s holdings in Baidu were worth $229,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Cambiar Investors LLC lifted its position in shares of Baidu by 0.7% during the 2nd quarter. Cambiar Investors LLC now owns 1,025,251 shares of the information services provider’s stock worth $120,323,000 after buying an additional 6,627 shares during the last quarter. Strs Ohio lifted its position in shares of Baidu by 98.3% during the 2nd quarter. Strs Ohio now owns 119,000 shares of the information services provider’s stock worth $13,965,000 after buying an additional 59,000 shares during the last quarter. Zeke Capital Advisors LLC lifted its position in shares of Baidu by 11.8% during the 2nd quarter. Zeke Capital Advisors LLC now owns 36,326 shares of the information services provider’s stock worth $4,263,000 after buying an additional 3,839 shares during the last quarter. Westside Investment Management Inc. purchased a new stake in shares of Baidu during the 2nd quarter worth approximately $33,000. Finally, Lindbrook Capital LLC lifted its position in shares of Baidu by 290.5% during the 2nd quarter. Lindbrook Capital LLC now owns 328 shares of the information services provider’s stock worth $38,000 after buying an additional 244 shares during the last quarter. Institutional investors own 59.61% of the company’s stock.

Shares of BIDU opened at $100.15 on Tuesday. The company has a quick ratio of 2.76, a current ratio of 2.76 and a debt-to-equity ratio of 0.34. The firm has a market cap of $37.64 billion, a PE ratio of 12.84, a P/E/G ratio of 5.81 and a beta of 1.70. The firm has a fifty day moving average price of $114.34. Baidu Inc has a 1 year low of $99.28 and a 1 year high of $235.80.

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

BIDU has been the subject of several recent analyst reports. ValuEngine upgraded shares of Baidu from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Loop Capital initiated coverage on shares of Baidu in a research report on Monday, June 3rd. They set a “hold” rating and a $125.00 price objective for the company. Oppenheimer downgraded shares of Baidu from an “outperform” rating to a “market perform” rating in a research report on Wednesday, April 10th. BidaskClub cut shares of Baidu from a “hold” rating to a “sell” rating in a report on Thursday, July 11th. Finally, Mizuho cut their target price on shares of Baidu from $215.00 to $205.00 and set a “buy” rating on the stock in a report on Tuesday, May 7th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eleven have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $175.74.

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.

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Institutional Ownership by Quarter for Baidu (NASDAQ:BIDU)

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