Rockefeller Financial Services Inc. reduced its stake in Baidu, Inc. (NASDAQ:BIDU) by 3.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 308,624 shares of the information services provider’s stock after selling 11,007 shares during the period. Rockefeller Financial Services Inc. owned about 0.09% of Baidu worth $55,200,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in the company. Barnett & Company Inc. increased its stake in shares of Baidu by 10.3% in the first quarter. Barnett & Company Inc. now owns 800 shares of the information services provider’s stock worth $138,000 after buying an additional 75 shares in the last quarter. Integrated Investment Consultants LLC acquired a new stake in shares of Baidu during the second quarter worth $152,000. IHT Wealth Management LLC increased its stake in shares of Baidu by 6.0% in the first quarter. IHT Wealth Management LLC now owns 1,141 shares of the information services provider’s stock worth $197,000 after buying an additional 65 shares in the last quarter. ProVise Management Group LLC acquired a new stake in shares of Baidu during the first quarter worth $202,000. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in shares of Baidu during the first quarter worth $202,000. 65.25% of the stock is owned by institutional investors.
Baidu, Inc. (BIDU) opened at 223.49 on Friday. The firm has a market cap of $77.50 billion, a price-to-earnings ratio of 41.88 and a beta of 1.95. Baidu, Inc. has a 1-year low of $159.54 and a 1-year high of $233.37. The firm has a 50-day moving average of $198.76 and a 200 day moving average of $183.92.
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A number of equities research analysts recently weighed in on the stock. Macquarie raised shares of Baidu from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $189.00 to $252.00 in a research report on Friday, July 28th. HSBC Holdings plc reaffirmed a “buy” rating and set a $245.00 price objective (up previously from $223.00) on shares of Baidu in a research report on Tuesday, August 1st. Jefferies Group LLC boosted their target price on shares of Baidu from $188.00 to $208.00 and gave the company a “buy” rating in a research note on Monday, May 1st. Benchmark Co. began coverage on shares of Baidu in a research note on Tuesday, April 18th. They set a “buy” rating and a $190.00 target price for the company. Finally, Instinet raised shares of Baidu from a “neutral” rating to a “buy” rating and boosted their target price for the company from $180.00 to $241.00 in a research note on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $209.80.
About Baidu
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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