Cynosure Advisors LLC purchased a new position in shares of Baidu Inc (NASDAQ:BIDU) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 909 shares of the information services provider’s stock, valued at approximately $203,000.
A number of other institutional investors and hedge funds have also made changes to their positions in BIDU. Amundi Pioneer Asset Management Inc. lifted its stake in Baidu by 8,004.6% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 599,337 shares of the information services provider’s stock worth $140,371,000 after purchasing an additional 591,942 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp lifted its stake in Baidu by 174.8% during the fourth quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 500,450 shares of the information services provider’s stock worth $117,210,000 after purchasing an additional 318,310 shares during the period. Legal & General Group Plc increased its holdings in shares of Baidu by 23.0% during the first quarter. Legal & General Group Plc now owns 1,310,215 shares of the information services provider’s stock worth $292,427,000 after buying an additional 245,039 shares in the last quarter. Myriad Asset Management Ltd. acquired a new stake in shares of Baidu during the first quarter worth approximately $51,546,000. Finally, Broad Peak Investment Management LTD. increased its holdings in shares of Baidu by 28.8% during the first quarter. Broad Peak Investment Management LTD. now owns 881,303 shares of the information services provider’s stock worth $196,698,000 after buying an additional 197,060 shares in the last quarter. Hedge funds and other institutional investors own 60.67% of the company’s stock.
Shares of Baidu opened at $259.00 on Friday, Marketbeat Ratings reports. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.00 and a quick ratio of 2.00. The company has a market capitalization of $90.33 billion, a P/E ratio of 26.61, a P/E/G ratio of 1.41 and a beta of 1.83. Baidu Inc has a fifty-two week low of $175.10 and a fifty-two week high of $284.22.
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 mobile browsers; Baidu Feed that provides users with personalized timeline to meet their personal interests reflected in their past online behaviors, such as search and browsing, and their demographics; and Bear Paw Account that enables verified brands and businesses to aggregate their content from Websites, wapsites, and open-platform apps.
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