Commerzbank Aktiengesellschaft FI raised its holdings in shares of Baidu Inc (NASDAQ:BIDU) by 28.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 893,473 shares of the information services provider’s stock after acquiring an additional 199,187 shares during the period. Baidu makes up 0.7% of Commerzbank Aktiengesellschaft FI’s holdings, making the stock its 29th largest position. Commerzbank Aktiengesellschaft FI’s holdings in Baidu were worth $91,813,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Griffin Asset Management Inc. bought a new stake in shares of Baidu during the 2nd quarter valued at $27,000. Motco bought a new stake in shares of Baidu during the 2nd quarter valued at $28,000. Tower Research Capital LLC TRC bought a new stake in shares of Baidu during the 2nd quarter valued at $31,000. Westside Investment Management Inc. bought a new stake in shares of Baidu during the 2nd quarter valued at $33,000. Finally, Pinnacle Bank raised its position in shares of Baidu by 61.7% during the 3rd quarter. Pinnacle Bank now owns 333 shares of the information services provider’s stock valued at $34,000 after acquiring an additional 127 shares during the last quarter. Institutional investors own 56.75% of the company’s stock.
Shares of BIDU traded down $1.04 during trading hours on Thursday, reaching $107.24. The stock had a trading volume of 1,129,951 shares, compared to its average volume of 3,441,891. The company has a quick ratio of 2.61, a current ratio of 2.61 and a debt-to-equity ratio of 0.32. Baidu Inc has a 52 week low of $93.39 and a 52 week high of $206.25. The firm has a 50-day moving average of $104.70 and a 200 day moving average of $123.29. The company has a market cap of $36.84 billion, a P/E ratio of 13.75, a P/E/G ratio of 13.82 and a beta of 1.74.
Several analysts have commented on BIDU shares. Morgan Stanley set a $125.00 target price on shares of Baidu and gave the company a “hold” rating in a research report on Tuesday, August 20th. Nomura dropped their target price on shares of Baidu from $134.00 to $118.00 and set a “neutral” rating for the company in a research report on Wednesday, August 21st. Credit Suisse Group reiterated an “outperform” rating on shares of Baidu in a research report on Wednesday, July 17th. Zacks Investment Research upgraded shares of Baidu from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 17th. Finally, KeyCorp reiterated an “overweight” rating and set a $148.00 target price (down previously from $160.00) on shares of Baidu in a research report on Friday, August 9th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and ten have issued a buy rating to the stock. Baidu has an average rating of “Hold” and a consensus target price of $151.22.
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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