Sunbelt Securities Inc. Makes New Investment in Baidu Inc (NASDAQ:BIDU)

Sunbelt Securities Inc. bought a new position in shares of Baidu Inc (NASDAQ:BIDU) in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 2,080 shares of the information services provider’s stock, valued at approximately $244,000.

Other institutional investors have also bought and sold shares of the company. Bank of Montreal Can boosted its stake in shares of Baidu by 219.8% during the 1st quarter. Bank of Montreal Can now owns 792,685 shares of the information services provider’s stock worth $130,674,000 after buying an additional 544,799 shares during the last quarter. Strs Ohio acquired a new position in shares of Baidu during the 1st quarter worth about $9,891,000. YorkBridge Wealth Partners LLC boosted its stake in shares of Baidu by 8.6% during the 1st quarter. YorkBridge Wealth Partners LLC now owns 2,739 shares of the information services provider’s stock worth $452,000 after buying an additional 218 shares during the last quarter. Jacobs & Co. CA acquired a new position in shares of Baidu during the 1st quarter worth about $2,144,000. Finally, Callahan Advisors LLC boosted its stake in shares of Baidu by 121.2% during the 1st quarter. Callahan Advisors LLC now owns 7,232 shares of the information services provider’s stock worth $1,192,000 after buying an additional 3,963 shares during the last quarter. Institutional investors own 59.44% of the company’s stock.

BIDU stock traded down $0.98 during mid-day trading on Thursday, hitting $93.87. 104,240 shares of the company were exchanged, compared to its average volume of 3,437,677. The business has a 50 day simple moving average of $110.98. 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 $33.22 billion, a PE ratio of 12.02, a PEG ratio of 4.34 and a beta of 1.70. Baidu Inc has a 1-year low of $93.88 and a 1-year high of $234.88.

Baidu announced that its Board of Directors has initiated a stock buyback program on Thursday, May 16th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the information services provider to repurchase up to 1.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

BIDU has been the subject of several recent analyst reports. Nomura cut their target price on shares of Baidu from $181.00 to $147.00 and set a “neutral” rating for the company in a research note on Monday, May 20th. KeyCorp reiterated an “overweight” rating and issued a $148.00 target price (down from $160.00) on shares of Baidu in a research note on Friday, August 9th. They noted that the move was a valuation call. UBS Group reiterated a “hold” rating and issued a $145.00 target price on shares of Baidu in a research note on Friday, July 5th. BidaskClub downgraded shares of Baidu from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 8th. Finally, CLSA set a $138.00 target price on shares of Baidu and gave the company a “buy” rating in a research note on Monday, July 8th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and eleven have given a buy rating to the company’s stock. Baidu has a consensus rating of “Hold” and a consensus target price of $175.11.

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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