Teacher Retirement System of Texas lessened its holdings in shares of Baidu (NASDAQ:BIDU) by 25.6% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 80,695 shares of the information services provider’s stock after selling 27,715 shares during the quarter. Teacher Retirement System of Texas’ holdings in Baidu were worth $18,010,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also modified their holdings of the company. Trustcore Financial Services LLC acquired a new stake in shares of Baidu during the fourth quarter worth about $109,000. Whittier Trust Co. lifted its position in shares of Baidu by 88.5% during the fourth quarter. Whittier Trust Co. now owns 490 shares of the information services provider’s stock worth $115,000 after purchasing an additional 230 shares in the last quarter. We Are One Seven LLC acquired a new stake in shares of Baidu during the fourth quarter worth about $135,000. Virtue Capital Management LLC acquired a new stake in shares of Baidu during the fourth quarter worth about $155,000. Finally, Calton & Associates Inc. acquired a new stake in shares of Baidu during the fourth quarter worth about $182,000. 62.71% of the stock is currently owned by institutional investors and hedge funds.
BIDU has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of Baidu from a “strong sell” rating to a “hold” rating in a research note on Friday, February 16th. BidaskClub lowered shares of Baidu from a “hold” rating to a “sell” rating in a research note on Friday, March 30th. KeyCorp initiated coverage on shares of Baidu in a research note on Thursday, April 5th. They set a “sector weight” rating on the stock. Citigroup upgraded shares of Baidu from a “neutral” rating to a “buy” rating and set a $307.00 target price on the stock in a research note on Friday, April 27th. Finally, ValuEngine upgraded shares of Baidu from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Seven investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have assigned a strong buy rating to the stock. Baidu has a consensus rating of “Buy” and a consensus price target of $281.40.
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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