Alliancebernstein L.P. increased its stake in shares of Baidu Inc (NASDAQ:BIDU) by 19.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,516 shares of the information services provider’s stock after purchasing an additional 8,108 shares during the period. Alliancebernstein L.P.’s holdings in Baidu were worth $11,831,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Trustcore Financial Services LLC acquired a new position in shares of Baidu during the 4th quarter worth approximately $109,000. Whittier Trust Co. raised its position in shares of Baidu by 88.5% during the 4th quarter. Whittier Trust Co. now owns 490 shares of the information services provider’s stock worth $115,000 after purchasing an additional 230 shares during the last quarter. Calton & Associates Inc. acquired a new position in shares of Baidu during the 4th quarter worth approximately $182,000. Invictus RG acquired a new position in shares of Baidu during the 3rd quarter worth approximately $193,000. Finally, Beacon Investment Advisory Services Inc. acquired a new position in shares of Baidu during the 3rd quarter worth approximately $212,000. Hedge funds and other institutional investors own 63.15% of the company’s stock.
Several research analysts recently issued reports on the company. Wells Fargo restated an “outperform” rating and set a $300.00 price objective (up from $290.00) on shares of Baidu in a research report on Wednesday, February 14th. Deutsche Bank assumed coverage on Baidu in a research report on Thursday, March 15th. They set a “buy” rating and a $319.00 price objective for the company. Daiwa Capital Markets upgraded Baidu from a “hold” rating to an “outperform” rating in a report on Wednesday, February 14th. BidaskClub upgraded Baidu from a “sell” rating to a “hold” rating in a report on Thursday, January 11th. Finally, Barclays boosted their price target on Baidu from $240.00 to $250.00 and gave the company an “equal weight” rating in a report on Friday, January 26th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $256.22.
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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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