Parsec Financial Management Has Increased By $394,570 Its Wells Fargo (WFC) Position; Ruane Cunniff & Goldfarb Cut Baidu (BIDU) Holding

December 7, 2017 - By Marie Mckinney

Parsec Financial Management Inc increased Wells Fargo (WFC) stake by 8.48% reported in 2017Q2 SEC filing. Parsec Financial Management Inc acquired 7,174 shares as Wells Fargo (WFC)’s stock declined 8.66%. The Parsec Financial Management Inc holds 91,806 shares with $5.09 million value, up from 84,632 last quarter. Wells Fargo now has $287.97 billion valuation. The stock decreased 0.15% or $0.09 during the last trading session, reaching $58.48. About 390,440 shares traded. Wells Fargo & Company (NYSE:WFC) has risen 9.67% since December 7, 2016 and is uptrending. It has underperformed by 7.03% the S&P500.

Ruane Cunniff & Goldfarb Inc decreased Baidu Inc (BIDU) stake by 43.17% reported in 2017Q2 SEC filing. Ruane Cunniff & Goldfarb Inc sold 1.14 million shares as Baidu Inc (BIDU)’s stock rose 1.94%. The Ruane Cunniff & Goldfarb Inc holds 1.50 million shares with $268.83 million value, down from 2.64 million last quarter. Baidu Inc now has $80.68 billion valuation. The stock increased 0.52% or $1.2087 during the last trading session, reaching $232.3587. About 44,228 shares traded. Baidu, Inc. (NASDAQ:BIDU) has risen 12.02% since December 7, 2016 and is uptrending. It has underperformed by 4.68% the S&P500.

Among 32 analysts covering Wells Fargo & Company (NYSE:WFC), 13 have Buy rating, 5 Sell and 14 Hold. Therefore 41% are positive. Wells Fargo & Company had 103 analyst reports since July 29, 2015 according to SRatingsIntel. The stock of Wells Fargo & Company (NYSE:WFC) earned “Neutral” rating by UBS on Monday, October 16. Barclays Capital maintained the shares of WFC in report on Tuesday, January 3 with “Overweight” rating. On Friday, July 21 the stock rating was downgraded by Berenberg to “Sell”. BMO Capital Markets maintained it with “Hold” rating and $4900 target in Sunday, July 30 report. The stock of Wells Fargo & Company (NYSE:WFC) earned “Hold” rating by BMO Capital Markets on Friday, October 13. The stock of Wells Fargo & Company (NYSE:WFC) has “Neutral” rating given on Monday, October 10 by UBS. As per Wednesday, April 12, the company rating was maintained by Sandler O’Neill. Deutsche Bank maintained the stock with “Buy” rating in Thursday, September 22 report. As per Wednesday, April 19, the company rating was maintained by Evercore. The firm has “Buy” rating by Robert W. Baird given on Friday, November 10.

Parsec Financial Management Inc decreased Prudential Finl Inc (NYSE:PRU) stake by 5,338 shares to 92,832 valued at $10.04 million in 2017Q2. It also reduced Procter & Gamble Company (NYSE:PG) stake by 4,814 shares and now owns 110,922 shares. Time Warner Inc (NYSE:TWX) was reduced too.

Investors sentiment increased to 0.88 in 2017 Q2. Its up 0.12, from 0.76 in 2017Q1. It is positive, as 85 investors sold WFC shares while 685 reduced holdings. 110 funds opened positions while 566 raised stakes. 3.66 billion shares or 1.73% less from 3.73 billion shares in 2017Q1 were reported. 1St Global reported 67,139 shares. Cmt Asset Mgmt Limited holds 0.09% in Wells Fargo & Company (NYSE:WFC) or 25,130 shares. Alpha Windward Ltd Llc holds 0.25% of its portfolio in Wells Fargo & Company (NYSE:WFC) for 7,064 shares. Cape Cod Five Cents Bancshares stated it has 0.05% in Wells Fargo & Company (NYSE:WFC). Clear Harbor Asset Mngmt Limited invested 0.06% of its portfolio in Wells Fargo & Company (NYSE:WFC). Atalanta Sosnoff Limited Liability reported 0.03% of its portfolio in Wells Fargo & Company (NYSE:WFC). Kames Cap Public Ltd Company has 30,218 shares. Snow Mgmt LP has 0.01% invested in Wells Fargo & Company (NYSE:WFC) for 3,800 shares. Epoch Inv Prns Inc reported 0.52% in Wells Fargo & Company (NYSE:WFC). Mackenzie invested 1.34% in Wells Fargo & Company (NYSE:WFC). Bremer Trust Natl Association invested in 0.84% or 53,207 shares. East Coast Asset Limited Liability holds 71,748 shares or 1.09% of its portfolio. Moreover, Firefly Value Prns LP has 5.63% invested in Wells Fargo & Company (NYSE:WFC). Washington Tru owns 364,547 shares or 1.23% of their US portfolio. Charter Trust invested in 89,153 shares.

Since June 8, 2017, it had 0 buys, and 1 insider sale for $1.34 million activity. 38,988 shares valued at $2.05 million were sold by Mack Mary T on Thursday, June 8. Pelos Petros G had sold 24,708 shares worth $1.34M on Monday, June 12.

Analysts await Baidu, Inc. (NASDAQ:BIDU) to report earnings on February, 22. They expect $1.52 earnings per share, down 5.00% or $0.08 from last year’s $1.6 per share. BIDU’s profit will be $527.78 million for 38.22 P/E if the $1.52 EPS becomes a reality. After $3.62 actual earnings per share reported by Baidu, Inc. for the previous quarter, Wall Street now forecasts -58.01% negative EPS growth.

Among 24 analysts covering Baidu (NASDAQ:BIDU), 9 have Buy rating, 4 Sell and 11 Hold. Therefore 38% are positive. Baidu had 55 analyst reports since July 28, 2015 according to SRatingsIntel. The rating was upgraded by Nomura to “Buy” on Monday, July 31. TH Capital downgraded Baidu, Inc. (NASDAQ:BIDU) on Friday, July 29 to “Hold” rating. The stock of Baidu, Inc. (NASDAQ:BIDU) has “Buy” rating given on Monday, June 19 by Jefferies. The stock of Baidu, Inc. (NASDAQ:BIDU) has “Buy” rating given on Monday, April 25 by Jefferies. The rating was upgraded by Macquarie Research on Friday, July 28 to “Buy”. Morgan Stanley maintained Baidu, Inc. (NASDAQ:BIDU) rating on Wednesday, May 11. Morgan Stanley has “Overweight” rating and $200 target. The firm has “Underweight” rating by JP Morgan given on Wednesday, August 31. The stock has “Sector Weight” rating by KeyBanc Capital Markets on Tuesday, July 28. The stock has “Buy” rating by Stifel Nicolaus on Tuesday, January 10. The firm earned “Neutral” rating on Friday, October 28 by Credit Suisse.

Ruane Cunniff & Goldfarb Inc increased Priceline Grp Inc (NASDAQ:PCLN) stake by 50,260 shares to 175,279 valued at $327.86 million in 2017Q2. It also upped Liberty Media Corp Delaware stake by 2.82 million shares and now owns 14.78M shares. Alphabet Inc was raised too.

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By1 Marie Mckinney




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