Worth Venture Partners LLC trimmed its stake in Baidu, Inc. (NASDAQ:BIDU) by 31.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,777 shares of the information services provider’s stock after selling 800 shares during the quarter. Worth Venture Partners LLC’s holdings in Baidu were worth $440,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in BIDU. Capital World Investors boosted its holdings in Baidu by 54.2% in the second quarter. Capital World Investors now owns 9,726,375 shares of the information services provider’s stock worth $1,739,659,000 after acquiring an additional 3,419,291 shares in the last quarter. Harris Associates L P boosted its holdings in Baidu by 29.7% in the second quarter. Harris Associates L P now owns 9,015,196 shares of the information services provider’s stock worth $1,612,458,000 after acquiring an additional 2,066,614 shares in the last quarter. Cambiar Investors LLC bought a new stake in Baidu in the second quarter worth $274,670,000. Veritas Asset Management LLP boosted its holdings in Baidu by 37.1% in the second quarter. Veritas Asset Management LLP now owns 3,404,298 shares of the information services provider’s stock worth $608,893,000 after acquiring an additional 920,687 shares in the last quarter. Finally, Franklin Resources Inc. boosted its holdings in Baidu by 7.4% in the second quarter. Franklin Resources Inc. now owns 7,219,564 shares of the information services provider’s stock worth $1,291,291,000 after acquiring an additional 498,060 shares in the last quarter. 64.64% of the stock is currently owned by institutional investors and hedge funds.
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Shares of Baidu, Inc. (BIDU) traded down $0.03 on Tuesday, reaching $237.37. The company’s stock had a trading volume of 1,712,800 shares, compared to its average volume of 2,587,511. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.71 and a current ratio of 1.71. The stock has a market capitalization of $81,290.00, a PE ratio of 30.05, a price-to-earnings-growth ratio of 1.41 and a beta of 1.94. Baidu, Inc. has a fifty-two week low of $160.61 and a fifty-two week high of $274.97.
BIDU has been the topic of several analyst reports. Jefferies Group LLC reissued a “buy” rating and issued a $208.00 target price on shares of Baidu in a report on Saturday, July 22nd. Deutsche Bank AG reissued a “hold” rating and issued a $201.00 target price (up from $186.00) on shares of Baidu in a report on Wednesday, July 26th. Cantor Fitzgerald raised Baidu from an “underweight” rating to an “overweight” rating and boosted their target price for the stock from $156.00 to $260.00 in a report on Friday, July 28th. Macquarie raised Baidu from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $189.00 to $252.00 in a report on Friday, July 28th. Finally, Nomura raised Baidu from a “neutral” rating to a “buy” rating and set a $241.00 price target on the stock in a report on Monday, July 31st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the company. Baidu has an average rating of “Buy” and a consensus target price of $234.70.
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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