CWM LLC raised its position in shares of Baidu Inc (NASDAQ:BIDU) by 110,975.0% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 31,101 shares of the information services provider’s stock after buying an additional 31,073 shares during the period. CWM LLC’s holdings in Baidu were worth $5,563,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. BlackRock Inc. boosted its position 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 valued at $2,065,846,000 after buying an additional 11,721,135 shares in the last quarter. Dodge & Cox purchased a new position in Baidu during the fourth quarter valued at $933,189,000. Orbis Allan Gray Ltd boosted its position in Baidu by 206.2% in the fourth quarter. Orbis Allan Gray Ltd now owns 2,770,169 shares of the information services provider’s stock valued at $455,443,000 after buying an additional 1,865,337 shares in the last quarter. UBS Asset Management Americas Inc. boosted its position in Baidu by 34.3% in the fourth quarter. UBS Asset Management Americas Inc. now owns 3,456,384 shares of the information services provider’s stock valued at $568,265,000 after buying an additional 883,702 shares in the last quarter. Finally, Edinburgh Partners Ltd boosted its position in Baidu by 65,315.3% in the first quarter. Edinburgh Partners Ltd now owns 798,721 shares of the information services provider’s stock valued at $137,787,000 after buying an additional 797,500 shares in the last quarter. 65.25% of the stock is owned by hedge funds and other institutional investors.
Shares of Baidu Inc (NASDAQ BIDU) opened at 223.49 on Friday. The company’s 50 day moving average price is $198.76 and its 200 day moving average price is $183.92. The firm has a market cap of $77.50 billion, a P/E ratio of 41.88 and a beta of 1.95. Baidu Inc has a 12-month low of $159.54 and a 12-month high of $233.37.
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BIDU has been the subject of several recent research reports. Jefferies Group LLC upped their price objective on Baidu from $188.00 to $208.00 and gave the stock a “buy” rating in a research report on Monday, May 1st. JPMorgan Chase & Co. reissued a “neutral” rating and set a $190.00 price target on shares of Baidu in a research report on Friday, April 28th. Benchmark Co. initiated coverage on Baidu in a research report on Tuesday, April 18th. They set a “buy” rating and a $190.00 price target for the company. Vetr raised Baidu from a “buy” rating to a “strong-buy” rating and set a $198.65 price target for the company in a research report on Thursday, May 4th. Finally, Sanford C. Bernstein reissued an “underperform” rating and set a $152.00 price target (down from $188.00) on shares of Baidu in a research report on Friday, July 14th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $209.80.
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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