Brown Advisory Inc. boosted its stake in Baidu Inc. (NASDAQ:BIDU) by 47.6% during the second quarter, Holdings Channel reports. The fund owned 10,416 shares of the company’s stock after buying an additional 3,357 shares during the period. Brown Advisory Inc.’s holdings in Baidu were worth $1,720,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of the company. Franklin Resources Inc. raised its stake in 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 during the last quarter. Rehmann Capital Advisory Group purchased a new stake in Baidu during the first quarter valued at $202,000. Prudential Financial Inc. raised its stake in Baidu by 159.9% in the first quarter. Prudential Financial Inc. now owns 350,300 shares of the company’s stock valued at $66,866,000 after buying an additional 215,500 shares during the last quarter. Teachers Advisors Inc. raised its stake 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 during the last quarter. Finally, TIAA CREF Investment Management LLC raised its stake 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 during the last quarter. 63.21% of the stock is currently owned by institutional investors and hedge funds.
Shares of Baidu Inc. (NASDAQ:BIDU) traded down 1.50% during trading on Monday, hitting $188.84. 622,489 shares of the stock traded hands. The company has a 50-day moving average of $178.12 and a 200-day moving average of $175.05. Baidu Inc. has a 52 week low of $132.01 and a 52 week high of $217.97. The firm has a market cap of $65.45 billion, a P/E ratio of 13.90 and a beta of 2.30.
Several research firms have recently weighed in on BIDU. Vetr lowered shares of Baidu from a “hold” rating to a “sell” rating and set a $176.40 target price on the stock. in a report on Tuesday, September 6th. Deutsche Bank AG increased their price objective on shares of Baidu from $182.00 to $219.00 and gave the stock a “buy” rating in a report on Tuesday, September 20th. Brean Capital reissued a “buy” rating on shares of Baidu in a report on Tuesday, May 31st. Nomura reissued a “neutral” rating and set a $155.00 price objective on shares of Baidu in a report on Tuesday, September 6th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Baidu in a report on Wednesday, August 31st. They set an “underweight” rating and a $164.00 price objective on the stock. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $197.04.
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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