ING Groep NV increased its stake in Baidu Inc. (NASDAQ:BIDU) by 0.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 46,579 shares of the company’s stock after buying an additional 271 shares during the period. ING Groep NV’s holdings in Baidu were worth $7,693,000 as of its most recent filing with the SEC.
Several other hedge funds also recently modified their holdings of BIDU. Ruane Cunniff & Goldfarb Inc. bought a new stake in shares of Baidu during the second quarter valued at $430,280,000. Orbis Allan Gray Ltd bought a new stake in shares of Baidu during the first quarter valued at $248,487,000. Prudential PLC increased its stake in shares of Baidu by 65.0% in the first quarter. Prudential PLC now owns 1,678,828 shares of the company’s stock valued at $320,455,000 after buying an additional 661,317 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Baidu by 54.7% in the first quarter. Franklin Resources Inc. now owns 1,635,445 shares of the company’s stock valued at $312,175,000 after buying an additional 578,251 shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its stake in shares of Baidu by 87.2% in the second quarter. BNP Paribas Arbitrage SA now owns 783,765 shares of the company’s stock valued at $129,439,000 after buying an additional 365,194 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 up 0.81% during mid-day trading on Monday, hitting $183.54. 1,743,102 shares of the company’s stock traded hands. The stock has a 50 day moving average price of $181.39 and a 200-day moving average price of $175.26. Baidu Inc. has a 1-year low of $139.61 and a 1-year high of $217.97. The stock has a market cap of $63.61 billion, a P/E ratio of 13.50 and a beta of 2.16.
BIDU has been the subject of several research reports. Citigroup Inc. downgraded shares of Baidu from a “buy” rating to a “neutral” rating and reduced their price target for the company from $238.00 to $180.00 in a research report on Monday, June 13th. JPMorgan Chase & Co. initiated coverage on shares of Baidu in a research report on Wednesday, August 31st. They issued an “underweight” rating and a $164.00 price target for the company. TH Capital downgraded shares of Baidu from a “buy” rating to a “hold” rating in a research report on Friday, July 29th. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $180.00 price target (down previously from $215.00) on shares of Baidu in a research report on Sunday, July 31st. Finally, Brean Capital reiterated a “buy” rating and issued a $197.00 price target (down previously from $220.00) on shares of Baidu in a research report on Friday, July 29th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have issued a buy rating to the company. Baidu has an average rating of “Hold” and a consensus price target of $195.55.
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.
Want to see what other hedge funds are holding BIDU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Baidu Inc. (NASDAQ:BIDU).
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.