Rockefeller Financial Services Inc. trimmed its position in shares of Baidu, Inc. (NASDAQ:BIDU) by 0.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 306,181 shares of the information services provider’s stock after selling 2,443 shares during the quarter. Baidu accounts for approximately 1.4% of Rockefeller Financial Services Inc.’s portfolio, making the stock its 24th largest holding. Rockefeller Financial Services Inc. owned about 0.09% of Baidu worth $75,838,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of BIDU. Capital World Investors boosted its holdings in Baidu by 54.2% during the second quarter. Capital World Investors now owns 9,726,375 shares of the information services provider’s stock worth $1,739,659,000 after buying an additional 3,419,291 shares in the last quarter. Harris Associates L P boosted its holdings in Baidu by 29.7% during the second quarter. Harris Associates L P now owns 9,015,196 shares of the information services provider’s stock worth $1,612,458,000 after buying an additional 2,066,614 shares in the last quarter. Cambiar Investors LLC purchased a new stake in Baidu during the second quarter worth about $274,670,000. Veritas Asset Management LLP boosted its holdings in Baidu by 37.1% during the second quarter. Veritas Asset Management LLP now owns 3,404,298 shares of the information services provider’s stock worth $608,893,000 after buying an additional 920,687 shares in the last quarter. Finally, Causeway Capital Management LLC boosted its holdings in Baidu by 20.4% during the first quarter. Causeway Capital Management LLC now owns 3,604,537 shares of the information services provider’s stock worth $621,855,000 after buying an additional 611,124 shares in the last quarter. Institutional investors and hedge funds own 64.09% of the company’s stock.
A number of research firms recently commented on BIDU. Macquarie raised shares of Baidu from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $189.00 to $252.00 in a report on Friday, July 28th. HSBC Holdings plc reaffirmed a “buy” rating and issued a $245.00 price target (up previously from $223.00) on shares of Baidu in a report on Tuesday, August 1st. Instinet raised shares of Baidu from a “neutral” rating to a “buy” rating and upped their price target for the company from $180.00 to $241.00 in a report on Monday, July 31st. Sanford C. Bernstein reaffirmed an “underperform” rating and issued a $152.00 price target (down previously from $188.00) on shares of Baidu in a report on Friday, July 14th. Finally, BidaskClub raised shares of Baidu from a “buy” rating to a “strong-buy” rating in a report on Friday, August 4th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $229.45.
Shares of Baidu, Inc. (NASDAQ:BIDU) traded down 0.25% during trading on Monday, reaching $264.25. 869,093 shares of the company were exchanged. Baidu, Inc. has a one year low of $159.54 and a one year high of $274.97. The stock has a market capitalization of $91.63 billion, a price-to-earnings ratio of 48.17 and a beta of 1.99. The company has a 50 day moving average price of $245.49 and a 200-day moving average price of $206.09.
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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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