Lockheed Martin Investment Management Co. decreased its stake in Baidu, Inc. (NASDAQ:BIDU) by 53.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,110 shares of the information services provider’s stock after selling 6,900 shares during the quarter. Lockheed Martin Investment Management Co.’s holdings in Baidu were worth $1,513,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of BIDU. Grove Bank & Trust boosted its stake in shares of Baidu by 74.2% in the second quarter. Grove Bank & Trust now owns 594 shares of the information services provider’s stock worth $106,000 after buying an additional 253 shares during the last quarter. Shine Investment Advisory Services Inc. purchased a new stake in shares of Baidu in the second quarter worth about $112,000. Harbour Capital Advisors LLC boosted its stake in shares of Baidu by 17,786.3% in the second quarter. Harbour Capital Advisors LLC now owns 20,927 shares of the information services provider’s stock worth $117,000 after buying an additional 20,810 shares during the last quarter. Aviance Capital Management LLC purchased a new position in Baidu during the second quarter worth approximately $124,000. Finally, Highstreet Asset Management Inc. purchased a new position in Baidu during the second quarter worth approximately $146,000. Hedge funds and other institutional investors own 64.64% of the company’s stock.
Baidu, Inc. (NASDAQ BIDU) traded down $0.03 during mid-day trading on Tuesday, reaching $237.37. The company’s stock had a trading volume of 1,712,800 shares, compared to its average volume of 2,587,511. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.71 and a current ratio of 1.71. The firm has a market capitalization of $81,290.00, a PE ratio of 30.05, a price-to-earnings-growth ratio of 1.41 and a beta of 1.94. Baidu, Inc. has a one year low of $160.61 and a one year high of $274.97.
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BIDU has been the topic of a number of recent analyst reports. Jefferies Group LLC reiterated a “buy” rating and set a $208.00 price target on shares of Baidu in a research report on Saturday, July 22nd. Deutsche Bank AG reiterated a “hold” rating and set a $201.00 price target (up previously from $186.00) on shares of Baidu in a research report on Wednesday, July 26th. Cantor Fitzgerald upgraded Baidu from an “underweight” rating to an “overweight” rating and increased their price target for the stock from $156.00 to $260.00 in a research report on Friday, July 28th. Macquarie upgraded Baidu from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $189.00 to $252.00 in a research report on Friday, July 28th. Finally, Nomura upgraded Baidu from a “neutral” rating to a “buy” rating and set a $241.00 price target on the stock in a research report on Monday, July 31st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $234.70.
Baidu Company Profile
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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