Diversified Trust Co decreased its stake in Baidu Inc. (NASDAQ:BIDU) by 12.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,750 shares of the company’s stock after selling 930 shares during the period. Diversified Trust Co’s holdings in Baidu were worth $1,115,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Teachers Advisors Inc. raised its position in Baidu by 153.1% in the first quarter. Teachers Advisors Inc. now owns 115,779 shares of the company’s stock valued at $22,100,000 after buying an additional 70,034 shares in the last quarter. TIAA CREF Investment Management LLC raised its position in Baidu by 11.5% in the first quarter. TIAA CREF Investment Management LLC now owns 259,918 shares of the company’s stock valued at $49,613,000 after buying an additional 26,718 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its position in Baidu by 83.3% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 122,100 shares of the company’s stock valued at $23,306,000 after buying an additional 55,500 shares in the last quarter. Cornerstone Financial Partners LLC purchased a new position in Baidu during the first quarter valued at approximately $1,756,000. Finally, Cortland Associates Inc. MO raised its position in Baidu by 0.6% in the first quarter. Cortland Associates Inc. MO now owns 111,396 shares of the company’s stock valued at $21,263,000 after buying an additional 619 shares in the last quarter. Institutional investors and hedge funds own 63.21% of the company’s stock.
Shares of Baidu Inc. (NASDAQ:BIDU) traded down 1.91% during midday trading on Friday, hitting $191.72. The stock had a trading volume of 3,252,952 shares. The firm has a 50 day moving average of $177.72 and a 200-day moving average of $174.93. The company has a market cap of $66.45 billion, a P/E ratio of 14.11 and a beta of 2.30. Baidu Inc. has a one year low of $132.01 and a one year high of $217.97.
Several research firms have recently commented on BIDU. Vetr lowered Baidu from a “hold” rating to a “sell” rating and set a $176.40 price target for the company. in a research report on Tuesday, September 6th. Deutsche Bank AG raised their price target on Baidu from $182.00 to $219.00 and gave the stock a “buy” rating in a research report on Tuesday. Brean Capital restated a “buy” rating on shares of Baidu in a research report on Tuesday, May 31st. Nomura restated a “neutral” rating and set a $155.00 price target on shares of Baidu in a research report on Tuesday, September 6th. Finally, JPMorgan Chase & Co. began coverage on Baidu in a report on Wednesday, August 31st. They issued an “underweight” rating and a $164.00 target price for the company. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and sixteen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $196.19.
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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