Jacobi Capital Management LLC held its position in shares of Baidu, Inc. (NASDAQ:BIDU) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 807 shares of the information services provider’s stock at the end of the first quarter. Jacobi Capital Management LLC’s holdings in Baidu were worth $140,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of the company. BlackRock Inc. raised its stake in 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 during the last quarter. Artisan Partners Limited Partnership raised its stake in 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 during the last quarter. Harris Associates L P raised its stake in 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 during the last quarter. Lazard Asset Management LLC raised its stake in 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 during the last quarter. Finally, Dodge & Cox bought a new stake in Baidu during the fourth quarter worth approximately $933,189,000. 64.68% of the stock is currently owned by institutional investors.
Shares of Baidu, Inc. (NASDAQ BIDU) traded up 9.45% during trading on Friday, hitting $220.00. The company had a trading volume of 12,591,474 shares. The stock has a market capitalization of $76.29 billion, a P/E ratio of 41.50 and a beta of 1.91. Baidu, Inc. has a 52 week low of $156.23 and a 52 week high of $225.60. The firm’s 50 day moving average is $185.12 and its 200-day moving average is $180.44.
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A number of equities research analysts recently commented on BIDU shares. BidaskClub raised Baidu from a “sell” rating to a “hold” rating in a research report on Thursday, June 22nd. Vetr raised Baidu from a “buy” rating to a “strong-buy” rating and set a $205.36 price target for the company in a research report on Monday, June 12th. Jefferies Group LLC set a $188.00 price objective on Baidu and gave the company a “buy” rating in a research note on Saturday, April 1st. Credit Suisse Group restated a “hold” rating and issued a $180.00 price objective on shares of Baidu in a research note on Friday, April 28th. Finally, Deutsche Bank AG restated a “hold” rating and issued a $201.00 price objective (up previously from $186.00) on shares of Baidu in a research note on Wednesday. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $198.92.
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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