Bellecapital International Ltd. boosted its position in shares of Baidu, Inc. (NASDAQ:BIDU) by 25.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,065 shares of the information services provider’s stock after buying an additional 3,868 shares during the period. Baidu comprises 3.0% of Bellecapital International Ltd.’s holdings, making the stock its 14th largest position. Bellecapital International Ltd.’s holdings in Baidu were worth $3,410,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the stock. BlackRock Inc. increased its position in shares of Baidu by 4,625.7% in the first quarter. BlackRock Inc. now owns 11,974,528 shares of the information services provider’s stock worth $2,065,846,000 after buying an additional 11,721,135 shares in the last quarter. Artisan Partners Limited Partnership increased its position in shares of Baidu by 8.9% in the first quarter. Artisan Partners Limited Partnership now owns 7,639,967 shares of the information services provider’s stock worth $1,318,047,000 after buying an additional 621,382 shares in the last quarter. Harris Associates L P increased its position in shares of Baidu by 9.0% in the first quarter. Harris Associates L P now owns 6,948,582 shares of the information services provider’s stock worth $1,198,769,000 after buying an additional 572,298 shares in the last quarter. Lazard Asset Management LLC increased its position in shares of Baidu by 2.4% in the first quarter. Lazard Asset Management LLC now owns 5,741,885 shares of the information services provider’s stock worth $990,588,000 after buying an additional 132,261 shares in the last quarter. Finally, State Street Corp increased its position in shares of Baidu by 5.7% in the first quarter. State Street Corp now owns 4,532,089 shares of the information services provider’s stock worth $781,879,000 after buying an additional 242,459 shares in the last quarter. 64.68% of the stock is owned by institutional investors and hedge funds.
Shares of Baidu, Inc. (NASDAQ:BIDU) opened at 220.00 on Friday. The firm has a market cap of $76.31 billion, a PE ratio of 47.70 and a beta of 1.91. The firm’s 50-day moving average price is $185.12 and its 200-day moving average price is $180.44. Baidu, Inc. has a 12 month low of $158.62 and a 12 month high of $225.60.
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A number of research analysts have recently issued reports on the company. Macquarie upgraded Baidu from a “neutral” rating to a “buy” rating and set a $252.00 price target on the stock in a report on Friday. Jefferies Group LLC lifted their price target on Baidu from $188.00 to $208.00 and gave the company a “buy” rating in a report on Monday, May 1st. Benchmark Co. assumed coverage on Baidu in a report on Tuesday, April 18th. They issued a “buy” rating and a $190.00 price target on the stock. Sanford C. Bernstein reiterated an “underperform” rating and issued a $152.00 price target (down from $188.00) on shares of Baidu in a report on Friday, July 14th. Finally, TheStreet downgraded Baidu from a “b-” rating to a “c+” rating in a report on Thursday, June 22nd. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $192.54.
Baidu Company Profile
Baidu, Inc is a Chinese language Internet search provider. The Company offers a Chinese language search platform on its Baidu.com Website that enables users to find information online, including Webpages, news, images, documents and multimedia files, through links provided on its Website. In addition to serving individual Internet search users, the Company provides a platform for businesses to reach customers.
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