Pitcairn Co. Acquires 37 Shares of Baidu, Inc. (BIDU)
Pitcairn Co. raised its stake in Baidu, Inc. (NASDAQ:BIDU) by 0.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,719 shares of the information services provider’s stock after buying an additional 37 shares during the period. Pitcairn Co.’s holdings in Baidu were worth $1,202,000 as of its most recent filing with the SEC.
Other large investors have also made changes to their positions in the company. Grove Bank & Trust increased 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 valued at $106,000 after buying an additional 253 shares during the last quarter. Shine Investment Advisory Services Inc. acquired a new stake in shares of Baidu during the second quarter valued at $112,000. Barnett & Company Inc. increased its stake in shares of Baidu by 10.3% in the first quarter. Barnett & Company Inc. now owns 800 shares of the information services provider’s stock valued at $138,000 after buying an additional 75 shares during the last quarter. Integrated Investment Consultants LLC acquired a new stake in shares of Baidu during the second quarter valued at $152,000. Finally, Chicago Partners Investment Group LLC acquired a new stake in shares of Baidu during the second quarter valued at $171,000. 65.25% of the stock is currently 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 is $198.76 and its 200-day moving average is $183.92. The firm has a market cap of $77.50 billion, a PE ratio of 41.88 and a beta of 1.95. Baidu, Inc. has a 52 week low of $159.54 and a 52 week high of $233.37.
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Several equities research analysts recently weighed in on the stock. HSBC Holdings plc reaffirmed a “buy” rating and set a $245.00 target price (up from $223.00) on shares of Baidu in a research note on Tuesday, August 1st. TheStreet upgraded shares of Baidu from a “c+” rating to a “b” rating in a report on Monday, July 31st. Instinet upgraded shares of Baidu from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $180.00 to $241.00 in a report on Monday, July 31st. Oppenheimer Holdings, Inc. boosted their price target on shares of Baidu from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Monday, July 31st. Finally, Vetr upgraded shares of Baidu from a “sell” rating to a “buy” rating and set a $244.58 price target for the company in a report on Monday, July 31st. One equities 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 issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $209.80.
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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