Baillie Gifford & Co. lessened its stake in Baidu, Inc. (NASDAQ:BIDU) by 0.9% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 23,602,990 shares of the information services provider’s stock after selling 205,976 shares during the period. Baidu comprises approximately 7.4% of Baillie Gifford & Co.’s portfolio, making the stock its 3rd largest position. Baillie Gifford & Co. owned 6.81% of Baidu worth $5,846,225,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of the stock. Principal Financial Group Inc. boosted its position in Baidu by 0.4% in the 1st quarter. Principal Financial Group Inc. now owns 1,346 shares of the information services provider’s stock valued at $232,000 after buying an additional 6 shares during the period. Schwab Charles Investment Management Inc. boosted its position in Baidu by 17.7% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 11,626 shares of the information services provider’s stock valued at $2,006,000 after buying an additional 1,747 shares during the period. Salem Investment Counselors Inc. boosted its position in Baidu by 15.7% in the 1st quarter. Salem Investment Counselors Inc. now owns 9,807 shares of the information services provider’s stock valued at $1,716,000 after buying an additional 1,330 shares during the period. Point72 Asset Management L.P. purchased a new position in Baidu in the 1st quarter valued at approximately $22,566,000. Finally, Adalta Capital Management LLC purchased a new position in Baidu in the 1st quarter valued at approximately $925,000. Hedge funds and other institutional investors own 64.27% of the company’s stock.
BIDU has been the subject of several recent research reports. Vetr cut shares of Baidu from a “strong-buy” rating to a “buy” rating and set a $265.83 price target for the company. in a research report on Tuesday, September 19th. Barclays PLC set a $250.00 price target on shares of Baidu and gave the company a “hold” rating in a research report on Thursday, October 19th. Credit Suisse Group reissued an “outperform” rating on shares of Baidu in a research report on Thursday, August 31st. Citigroup Inc. reissued a “hold” rating and issued a $253.00 price target on shares of Baidu in a research report on Thursday, September 14th. Finally, Macquarie reissued a “top pick” rating on shares of Baidu in a research report on Monday, August 28th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $234.70.
Baidu, Inc. (NASDAQ:BIDU) traded up 1.78% on Wednesday, reaching $248.27. 1,777,193 shares of the company’s stock were exchanged. The firm has a market capitalization of $86.09 billion, a price-to-earnings ratio of 46.02 and a beta of 1.99. Baidu, Inc. has a 1-year low of $159.54 and a 1-year high of $274.97. The stock’s 50 day moving average price is $249.58 and its 200 day moving average price is $210.35.
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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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