BlackRock Inc. lowered its position in Baidu, Inc. (NASDAQ:BIDU) by 4.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 11,457,762 shares of the information services provider’s stock after selling 516,766 shares during the period. BlackRock Inc. owned about 3.30% of Baidu worth $2,049,335,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Grove Bank & Trust boosted its holdings in shares of Baidu by 74.2% during the 2nd quarter. Grove Bank & Trust now owns 594 shares of the information services provider’s stock valued at $106,000 after purchasing an additional 253 shares during the last quarter. Shine Investment Advisory Services Inc. bought a new position in shares of Baidu during the 2nd quarter valued at about $112,000. Barnett & Company Inc. boosted its holdings in shares of Baidu by 10.3% during the 1st quarter. Barnett & Company Inc. now owns 800 shares of the information services provider’s stock valued at $138,000 after purchasing an additional 75 shares during the last quarter. Highstreet Asset Management Inc. bought a new position in shares of Baidu during the 2nd quarter valued at about $146,000. Finally, Integrated Investment Consultants LLC bought a new position in shares of Baidu during the 2nd quarter valued at about $152,000. 64.15% of the stock is owned by institutional investors.

ILLEGAL ACTIVITY WARNING: “Baidu, Inc. (BIDU) Position Trimmed by BlackRock Inc.” was posted by Daily Political and is the sole property of of Daily Political. If you are accessing this report on another website, it was illegally stolen and reposted in violation of US & international copyright and trademark laws. The legal version of this report can be accessed at https://www.dailypolitical.com/2017/09/15/baidu-inc-bidu-position-trimmed-by-blackrock-inc.html.

Shares of Baidu, Inc. (NASDAQ BIDU) traded down 0.11% during trading on Friday, hitting $237.08. 1,063,205 shares of the stock were exchanged. The company has a market cap of $82.21 billion, a price-to-earnings ratio of 43.72 and a beta of 1.98. The stock’s 50 day moving average price is $225.91 and its 200-day moving average price is $191.76. Baidu, Inc. has a one year low of $159.54 and a one year high of $238.00.

Several research analysts have commented on the stock. Citigroup Inc. reissued a “hold” rating and set a $253.00 price objective on shares of Baidu in a report on Thursday. Vetr downgraded shares of Baidu from a “strong-buy” rating to a “buy” rating and set a $265.83 price objective for the company. in a report on Wednesday. Instinet raised shares of Baidu from a “neutral” rating to a “buy” rating and increased their price objective for the company from $180.00 to $241.00 in a report on Monday, July 31st. HSBC Holdings plc reissued a “buy” rating and set a $245.00 price objective (up previously from $223.00) on shares of Baidu in a report on Tuesday, August 1st. Finally, TheStreet raised shares of Baidu from a “c+” rating to a “b” rating in a report on Monday, July 31st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Baidu has a consensus rating of “Buy” and an average price target of $213.36.

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.

Institutional Ownership by Quarter for Baidu (NASDAQ:BIDU)

Receive News & Ratings for Baidu Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Baidu Inc. and related companies with MarketBeat.com's FREE daily email newsletter.