Teacher Retirement System of Texas Acquires 3,632 Shares of Baidu Inc. (BIDU)
Teacher Retirement System of Texas raised its position in Baidu Inc. (NASDAQ:BIDU) by 5.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 76,799 shares of the company’s stock after buying an additional 3,632 shares during the period. Teacher Retirement System of Texas’ holdings in Baidu were worth $13,983,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of BIDU. Cornerstone Advisors Inc. boosted its position in shares of 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 during 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 worth $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 worth $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 worth $128,000 after buying an additional 84 shares during the last quarter. Finally, Financial Architects Inc boosted its position in shares of Baidu by 63.2% in the third quarter. Financial Architects Inc now owns 775 shares of the company’s stock worth $141,000 after buying an additional 300 shares during the last quarter. 62.27% of the stock is owned by institutional investors and hedge funds.
Baidu Inc. (NASDAQ:BIDU) traded up 1.87% during mid-day trading on Tuesday, hitting $170.12. 1,244,673 shares of the stock traded hands. The company has a 50 day moving average of $171.13 and a 200-day moving average of $171.71. Baidu Inc. has a 12-month low of $139.61 and a 12-month high of $215.20. The stock has a market cap of $59.02 billion, a PE ratio of 12.85 and a beta of 1.99.
TRADEMARK VIOLATION NOTICE: This piece was first published by The Cerbat Gem and is the propert of of The Cerbat Gem. If you are viewing this piece on another domain, it was illegally copied and reposted in violation of U.S. and international copyright and trademark legislation. The legal version of this piece can be accessed at https://www.thecerbatgem.com/2016/11/29/teacher-retirement-system-of-texas-acquires-3632-shares-of-baidu-inc-bidu.html.
A number of equities analysts have commented on BIDU shares. Deutsche Bank AG lifted their price objective on shares of Baidu from $182.00 to $219.00 and gave the stock a “buy” rating in a research note on Tuesday, September 20th. Vetr raised shares of Baidu from a “hold” rating to a “buy” rating and set a $197.45 price target for the company in a research note on Thursday, September 29th. Jefferies Group reaffirmed a “buy” rating and set a $188.00 price target on shares of Baidu in a research note on Monday, October 3rd. Brean Capital reaffirmed a “buy” rating on shares of Baidu in a research note on Tuesday, October 4th. Finally, Piper Jaffray Cos. reaffirmed a “buy” rating and set a $190.00 price target on shares of Baidu in a research note on Friday, October 28th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have given a buy rating to the stock. Baidu presently has a consensus rating of “Hold” and an average target price of $191.77.
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.
Receive News & Stock 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 stocks with our FREE daily email newsletter.