Ballentine Partners LLC purchased a new stake in shares of Baidu, Inc. (NASDAQ:BIDU) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 856 shares of the information services provider’s stock, valued at approximately $212,000.
Several other institutional investors also recently bought and sold shares of BIDU. Principal Financial Group Inc. raised its stake in Baidu by 0.4% in the first quarter. Principal Financial Group Inc. now owns 1,346 shares of the information services provider’s stock worth $232,000 after buying an additional 6 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in Baidu by 17.7% in the first quarter. Schwab Charles Investment Management Inc. now owns 11,626 shares of the information services provider’s stock worth $2,006,000 after buying an additional 1,747 shares in the last quarter. Gateway Investment Advisers LLC raised its stake in Baidu by 10.6% in the second quarter. Gateway Investment Advisers LLC now owns 23,931 shares of the information services provider’s stock worth $4,280,000 after buying an additional 2,288 shares in the last quarter. Advisors Capital Management LLC raised its stake in Baidu by 6.6% in the second quarter. Advisors Capital Management LLC now owns 8,787 shares of the information services provider’s stock worth $1,572,000 after buying an additional 543 shares in the last quarter. Finally, CWM LLC raised its stake in Baidu by 110,975.0% in the second quarter. CWM LLC now owns 31,101 shares of the information services provider’s stock worth $5,563,000 after buying an additional 31,073 shares in the last quarter. 64.64% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts recently commented on BIDU shares. Credit Suisse Group reissued an “outperform” rating on shares of Baidu in a research note on Thursday, August 31st. Jefferies Group LLC lifted their price target on shares of Baidu from $232.00 to $305.00 and gave the stock a “buy” rating in a report on Friday, October 20th. Erste Group raised shares of Baidu from a “sell” rating to a “hold” rating in a report on Monday, August 21st. Macquarie reaffirmed a “top pick” rating on shares of Baidu in a report on Monday, August 28th. Finally, OTR Global raised shares of Baidu to a “positive” rating in a report on Wednesday, October 25th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $234.70.
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Baidu, Inc. (NASDAQ:BIDU) traded down $0.15 on Monday, hitting $237.26. 802,574 shares of the company traded hands, compared to its average volume of 2,591,527. Baidu, Inc. has a 52-week low of $159.54 and a 52-week high of $274.97. The firm has a market cap of $82,320.82, a P/E ratio of 30.05, a PEG ratio of 1.41 and a beta of 1.94. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.71 and a current ratio of 1.71.
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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