Capital Research Global Investors Boosts Stake in Baidu, Inc. (BIDU)
Capital Research Global Investors lifted its position in shares of Baidu, Inc. (NASDAQ:BIDU) by 0.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,602,587 shares of the information services provider’s stock after acquiring an additional 4,531 shares during the quarter. Capital Research Global Investors owned 0.46% of Baidu worth $286,639,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Stifel Financial Corp grew its holdings in shares of Baidu by 15.6% in the 1st quarter. Stifel Financial Corp now owns 16,580 shares of the information services provider’s stock worth $2,862,000 after acquiring an additional 2,234 shares during the period. American International Group Inc. increased its stake in Baidu by 0.7% in the 1st quarter. American International Group Inc. now owns 15,424 shares of the information services provider’s stock valued at $2,661,000 after purchasing an additional 107 shares in the last quarter. Artisan Partners Limited Partnership raised its holdings in Baidu by 8.9% during 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 purchasing an additional 621,382 shares during the last quarter. Comerica Securities Inc. raised its holdings in Baidu by 2.9% during the first quarter. Comerica Securities Inc. now owns 2,618 shares of the information services provider’s stock worth $452,000 after purchasing an additional 75 shares during the last quarter. Finally, Ariel Investments LLC raised its holdings in Baidu by 6.2% during the first quarter. Ariel Investments LLC now owns 1,111,024 shares of the information services provider’s stock worth $191,674,000 after purchasing an additional 64,821 shares during the last quarter. 64.15% of the stock is currently owned by institutional investors and hedge funds.
Baidu, Inc. (NASDAQ BIDU) traded down 0.8146% during midday trading on Wednesday, reaching $244.9879. The company’s stock had a trading volume of 380,522 shares. The stock’s 50-day moving average price is $232.19 and its 200-day moving average price is $198.27. Baidu, Inc. has a 12 month low of $159.54 and a 12 month high of $250.57. The firm has a market capitalization of $84.95 billion, a price-to-earnings ratio of 44.6569 and a beta of 1.99.
A number of research analysts have recently weighed in on BIDU shares. Credit Suisse Group restated an “outperform” rating on shares of Baidu in a research report on Thursday, August 31st. Erste Group upgraded shares of Baidu from a “sell” rating to a “hold” rating in a research report on Monday, August 21st. Macquarie reiterated a “top pick” rating on shares of Baidu in a research report on Monday, August 28th. Vetr upgraded shares of Baidu from a “sell” rating to a “strong-buy” rating and set a $265.83 price objective on the stock in a research report on Wednesday, September 6th. Finally, BidaskClub raised shares of Baidu from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 4th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the company’s stock. Baidu currently has a consensus rating of “Buy” and a consensus target price of $223.12.
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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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