Northwestern Mutual Wealth Management Co. grew its stake in Baidu, Inc. (NASDAQ:BIDU) by 19.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,184 shares of the information services provider’s stock after buying an additional 1,152 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Baidu were worth $1,285,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Grove Bank & Trust boosted its holdings 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 period. Shine Investment Advisory Services Inc. acquired a new position in shares of Baidu in the second quarter valued at approximately $112,000. Barnett & Company Inc. boosted its holdings 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 period. Highstreet Asset Management Inc. acquired a new position in shares of Baidu in the second quarter valued at approximately $146,000. Finally, Integrated Investment Consultants LLC acquired a new position in shares of Baidu in the second quarter valued at approximately $152,000. Institutional investors own 64.15% of the company’s stock.
COPYRIGHT VIOLATION WARNING: “Baidu, Inc. (BIDU) Shares Bought by Northwestern Mutual Wealth Management Co.” was originally reported by Sports Perspectives and is the sole property of of Sports Perspectives. If you are reading this piece on another website, it was stolen and republished in violation of US & international trademark & copyright laws. The correct version of this piece can be accessed at https://sportsperspectives.com/2017/09/12/baidu-inc-bidu-shares-bought-by-northwestern-mutual-wealth-management-co.html.
BIDU has been the subject of several research analyst reports. Vetr upgraded shares of Baidu from a “sell” rating to a “strong-buy” rating and set a $265.83 price target for the company in a report on Wednesday, September 6th. Deutsche Bank AG restated a “hold” rating and set a $201.00 target price (up previously from $186.00) on shares of Baidu in a report on Wednesday, July 26th. Jefferies Group LLC restated a “buy” rating and set a $208.00 target price on shares of Baidu in a report on Saturday, July 22nd. Erste Group upgraded shares of Baidu from a “sell” rating to a “hold” rating in a report on Monday, August 21st. Finally, Instinet upgraded shares of Baidu from a “neutral” rating to a “buy” rating and increased their target price for the stock from $180.00 to $241.00 in a report on Monday, July 31st. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, twelve have assigned a buy rating and three have issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $210.77.
Baidu, Inc. (BIDU) opened at 234.0282 on Tuesday. The company has a market capitalization of $81.15 billion, a price-to-earnings ratio of 43.6213 and a beta of 1.98. Baidu, Inc. has a 12 month low of $159.54 and a 12 month high of $235.00. The stock has a 50 day moving average of $222.32 and a 200 day moving average of $190.34.
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.
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.