M&T Bank Corp boosted its holdings in shares of Baidu, Inc. (NASDAQ:BIDU) by 142.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,045 shares of the information services provider’s stock after acquiring an additional 14,119 shares during the period. M&T Bank Corp’s holdings in Baidu were worth $4,301,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in BIDU. UBS Asset Management Americas Inc. grew its stake in Baidu by 3.5% during the 1st quarter. UBS Asset Management Americas Inc. now owns 3,578,044 shares of the information services provider’s stock valued at $617,284,000 after acquiring an additional 121,660 shares in the last quarter. Ameritas Investment Partners Inc. grew its stake in Baidu by 0.6% during the 1st quarter. Ameritas Investment Partners Inc. now owns 4,949 shares of the information services provider’s stock valued at $854,000 after acquiring an additional 28 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in Baidu by 5.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 55,794 shares of the information services provider’s stock valued at $9,623,000 after acquiring an additional 2,985 shares in the last quarter. Nordea Investment Management AB grew its stake in Baidu by 37.6% during the 1st quarter. Nordea Investment Management AB now owns 190,356 shares of the information services provider’s stock valued at $32,840,000 after acquiring an additional 51,971 shares in the last quarter. Finally, Private Advisor Group LLC grew its stake in Baidu by 66.9% during the 1st quarter. Private Advisor Group LLC now owns 10,370 shares of the information services provider’s stock valued at $1,874,000 after acquiring an additional 4,158 shares in the last quarter. 64.14% of the stock is owned by institutional investors.

Several brokerages recently issued reports on BIDU. Macquarie raised shares of Baidu from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $189.00 to $252.00 in a research note on Friday, July 28th. HSBC Holdings plc reaffirmed a “buy” rating and set a $245.00 price objective (up previously from $223.00) on shares of Baidu in a research note on Tuesday, August 1st. Instinet raised shares of Baidu from a “neutral” rating to a “buy” rating and upped their price objective for the company from $180.00 to $241.00 in a research note on Monday, July 31st. Sanford C. Bernstein reaffirmed an “underperform” rating and set a $152.00 price objective (down previously from $188.00) on shares of Baidu in a research note on Friday, July 14th. Finally, TheStreet cut shares of Baidu from a “b-” rating to a “c+” rating in a research note on Thursday, June 22nd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Baidu currently has an average rating of “Buy” and a consensus target price of $215.51.

Shares of Baidu, Inc. (NASDAQ:BIDU) opened at 240.57 on Friday. The firm’s 50-day moving average is $227.76 and its 200-day moving average is $193.39. Baidu, Inc. has a 12-month low of $159.54 and a 12-month high of $242.70. The firm has a market capitalization of $83.42 billion, a price-to-earnings ratio of 43.85 and a beta of 1.98.

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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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Institutional Ownership by Quarter for Baidu (NASDAQ:BIDU)

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