CIBC Asset Management Inc trimmed its position in shares of Baidu, Inc. (NASDAQ:BIDU – Get Rating) by 13.4% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 21,554 shares of the information services provider’s stock after selling 3,336 shares during the quarter. CIBC Asset Management Inc’s holdings in Baidu were worth $2,532,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of the company. The Manufacturers Life Insurance Company raised its stake in shares of Baidu by 648.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 10,298 shares of the information services provider’s stock worth $1,212,000 after acquiring an additional 8,923 shares in the last quarter. Barclays PLC lifted its holdings in shares of Baidu by 26.3% during the 3rd quarter. Barclays PLC now owns 412,400 shares of the information services provider’s stock valued at $48,453,000 after purchasing an additional 85,819 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in shares of Baidu by 15.7% in the 3rd quarter. Daiwa Securities Group Inc. now owns 244,696 shares of the information services provider’s stock worth $28,749,000 after purchasing an additional 33,292 shares in the last quarter. DekaBank Deutsche Girozentrale grew its stake in Baidu by 9.2% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 273,506 shares of the information services provider’s stock worth $31,867,000 after buying an additional 23,125 shares during the last quarter. Finally, Clear Street Markets LLC purchased a new position in Baidu during the 3rd quarter worth $53,000. 23.06% of the stock is currently owned by institutional investors.
Baidu Trading Down 2.6 %
Shares of NASDAQ:BIDU opened at $132.79 on Wednesday. The company has a current ratio of 2.46, a quick ratio of 2.46 and a debt-to-equity ratio of 0.28. Baidu, Inc. has a 12-month low of $73.58 and a 12-month high of $171.87. The business has a 50 day moving average of $116.64 and a two-hundred day moving average of $119.69. The company has a market capitalization of $45.88 billion, a PE ratio of 81.47, a PEG ratio of 0.68 and a beta of 0.63.
Analysts Set New Price Targets
Baidu, Inc offers internet search services in China. It operates through Baidu Core and iQIYI segments. The company offers Baidu App to access search, feed, and other services using mobile devices; Baidu Search to access its search and other services; Baidu Feed that provides users with personalized timeline based on their demographics and interests; and Haokan, a short video app.
- Get a free copy of the StockNews.com research report on Baidu (BIDU)
- Pliant Therapeutics Gaps 34% Higher: More Upside To Come?
- How Will Early 2023 Layoffs Affect These 5 Biotech Stocks?
- Is the Pain Over for Baudax Bio Investors after a 70% Spike?
- Will Rocket Lab’s First U.S. Launch Send Stock Into Stratosphere?
- When Will Crane Holdings Take Flight?
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.