Baidu, Inc. (BIDU) Reaches New 1-Year High at $232.00

Shares of Baidu, Inc. (NASDAQ:BIDU) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $232.00 and last traded at $231.99, with a volume of 2,216,381 shares traded. The stock had previously closed at $227.16.

A number of brokerages have recently issued reports on BIDU. BidaskClub raised Baidu from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 4th. TheStreet raised Baidu from a “c+” rating to a “b” rating in a research note on Monday, July 31st. HSBC Holdings plc reaffirmed a “buy” rating and issued a $245.00 price target (up from $223.00) on shares of Baidu in a research note on Tuesday, August 1st. Vetr raised Baidu from a “sell” rating to a “buy” rating and set a $244.58 price target on the stock in a research note on Monday, July 31st. Finally, Instinet upgraded Baidu from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $180.00 to $241.00 in a research report on Monday, July 31st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Baidu has a consensus rating of “Buy” and an average price target of $209.80.

The stock’s 50 day moving average is $205.25 and its 200-day moving average is $185.64. The stock has a market cap of $76.53 billion, a PE ratio of 41.36 and a beta of 1.95.

Institutional investors have recently modified their holdings of the stock. Deltec Asset Management LLC increased its position in shares of Baidu by 35.7% in the first quarter. Deltec Asset Management LLC now owns 1,900 shares of the information services provider’s stock worth $328,000 after buying an additional 500 shares during the last quarter. IFP Advisors Inc increased its position in shares of Baidu by 0.6% in the first quarter. IFP Advisors Inc now owns 1,596 shares of the information services provider’s stock worth $275,000 after buying an additional 9 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its stake in Baidu by 5.5% in the first quarter. State of New Jersey Common Pension Fund D now owns 300,553 shares of the information services provider’s stock worth $51,851,000 after buying an additional 15,602 shares during the period. Nikko Asset Management Americas Inc. boosted its stake in Baidu by 95.5% in the first quarter. Nikko Asset Management Americas Inc. now owns 2,150 shares of the information services provider’s stock worth $371,000 after buying an additional 1,050 shares during the period. Finally, Narwhal Capital Management boosted its stake in Baidu by 3.9% in the first quarter. Narwhal Capital Management now owns 8,565 shares of the information services provider’s stock worth $1,478,000 after buying an additional 325 shares during the period. Institutional investors own 65.51% of the company’s stock.

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About Baidu

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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