Sargent Bickham Lagudis LLC Sells 77 Shares of Baidu, Inc. (NASDAQ:BIDU)

Posted by on Apr 2nd, 2023

Sargent Bickham Lagudis LLC reduced its position in Baidu, Inc. (NASDAQ:BIDU – Get Rating) by 25.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 229 shares of the information services provider’s stock after selling 77 shares during the quarter. Sargent Bickham Lagudis LLC’s holdings in Baidu were worth $26,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. ARGA Investment Management LP boosted its stake in shares of Baidu by 13.2% in the 3rd quarter. ARGA Investment Management LP now owns 3,078,803 shares of the information services provider’s stock valued at $361,721,000 after purchasing an additional 358,213 shares during the last quarter. Ariel Investments LLC boosted its stake in Baidu by 9.1% during the first quarter. Ariel Investments LLC now owns 2,639,193 shares of the information services provider’s stock worth $349,165,000 after acquiring an additional 221,092 shares in the last quarter. Axiom Investors LLC DE boosted its stake in Baidu by 81.3% during the third quarter. Axiom Investors LLC DE now owns 1,481,563 shares of the information services provider’s stock worth $174,069,000 after acquiring an additional 664,373 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Baidu by 1.6% during the third quarter. Renaissance Technologies LLC now owns 1,298,299 shares of the information services provider’s stock worth $152,537,000 after acquiring an additional 20,400 shares in the last quarter. Finally, Federated Hermes Inc. boosted its stake in Baidu by 3.0% during the second quarter. Federated Hermes Inc. now owns 1,197,132 shares of the information services provider’s stock worth $178,049,000 after acquiring an additional 35,233 shares in the last quarter. 23.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BIDU. Citigroup increased their target price on shares of Baidu from $176.00 to $191.00 and gave the stock a “buy” rating in a research note on Thursday, February 23rd. Susquehanna Bancshares cut their target price on shares of Baidu from $195.00 to $150.00 in a research note on Wednesday, December 14th. Benchmark increased their target price on shares of Baidu from $200.00 to $210.00 and gave the stock a “buy” rating in a research note on Thursday, February 23rd. JPMorgan Chase & Co. began coverage on shares of Baidu in a research note on Thursday, March 23rd. They set an “overweight” rating on the stock. Finally, Susquehanna increased their target price on shares of Baidu from $150.00 to $175.00 and gave the stock a “positive” rating in a research note on Tuesday, February 28th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $183.88.

Baidu Stock Performance

Shares of BIDU stock opened at $150.92 on Friday. The firm has a 50-day moving average of $144.32 and a 200-day moving average of $121.75. The company has a market cap of $52.15 billion, a P/E ratio of 52.22, a P/E/G ratio of 0.82 and a beta of 0.68. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.67 and a quick ratio of 2.67. Baidu, Inc. has a one year low of $73.58 and a one year high of $160.88.

Baidu announced that its Board of Directors has approved a stock buyback plan on Wednesday, February 22nd that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the information services provider to buy shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

About Baidu

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Baidu, Inc engages in the provision of internet search and online marketing solutions. The firm’s products and services include Baidu App, Baidu Search, Baidu Feed, Haokan, Quanmin, Baidu Post Bar, Baidu Knows, Baidu Encyclopedia, Baidu Input Method Editor or Baidu IME and Overseas Products. It operates through the following segments: Baidu Core and iQIYI.

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Institutional Ownership by Quarter for Baidu (NASDAQ:BIDU)

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