Baidu Inc. (BIDU) is Harding Loevner LP’s 2nd Largest Position
Harding Loevner LP cut its position in shares of Baidu Inc. (NASDAQ:BIDU) by 21.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,362,467 shares of the company’s stock after selling 907,905 shares during the period. Baidu comprises approximately 4.4% of Harding Loevner LP’s portfolio, making the stock its 2nd largest position. Harding Loevner LP owned 0.97% of Baidu worth $612,204,000 as of its most recent filing with the SEC.
A number of other hedge funds have also bought and sold shares of the stock. Cornerstone Advisors Inc. increased its stake in Baidu by 0.8% in the second quarter. Cornerstone Advisors Inc. now owns 605 shares of the company’s stock worth $100,000 after buying an additional 5 shares in the last quarter. Huntington National Bank boosted its position in shares of Baidu by 38.2% in the second quarter. Huntington National Bank now owns 622 shares of the company’s stock valued at $103,000 after buying an additional 172 shares during the last quarter. Signaturefd LLC boosted its position in shares of Baidu by 45.0% in the second quarter. Signaturefd LLC now owns 741 shares of the company’s stock valued at $122,000 after buying an additional 230 shares during the last quarter. WealthTrust Arizona LLC boosted its position in shares of Baidu by 12.1% in the second quarter. WealthTrust Arizona LLC now owns 777 shares of the company’s stock valued at $128,000 after buying an additional 84 shares during the last quarter. Finally, Barnett & Company Inc. purchased a new position in shares of Baidu during the first quarter valued at approximately $164,000. 63.41% of the stock is owned by hedge funds and other institutional investors.
Baidu Inc. (NASDAQ:BIDU) traded down 1.7330% during mid-day trading on Tuesday, reaching $178.3448. 834,918 shares of the company were exchanged. Baidu Inc. has a one year low of $139.61 and a one year high of $217.97. The stock has a 50-day moving average price of $182.51 and a 200 day moving average price of $175.10. The company has a market capitalization of $61.81 billion, a PE ratio of 13.1339 and a beta of 2.16.
Several equities analysts have recently commented on BIDU shares. Citigroup Inc. cut shares of Baidu from a “buy” rating to a “neutral” rating and dropped their target price for the company from $238.00 to $180.00 in a research report on Monday, June 13th. Zacks Investment Research upgraded shares of Baidu from a “sell” rating to a “hold” rating in a research report on Tuesday, October 4th. JPMorgan Chase & Co. started coverage on shares of Baidu in a research report on Wednesday, August 31st. They issued an “underweight” rating and a $164.00 target price for the company. TH Capital cut shares of Baidu from a “buy” rating to a “hold” rating in a research report on Friday, July 29th. Finally, Piper Jaffray Cos. restated an “overweight” rating and issued a $180.00 target price (down from $215.00) on shares of Baidu in a research report on Sunday, July 31st. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and fourteen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $195.46.
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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