Cornerstone Advisors Inc. Has $109,000 Stake in Baidu, Inc. (BIDU)
Cornerstone Advisors Inc. raised its position in Baidu, Inc. (NASDAQ:BIDU) by 0.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 611 shares of the information services provider’s stock after buying an additional 1 shares during the period. Cornerstone Advisors Inc.’s holdings in Baidu were worth $109,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of BIDU. Barnett & Company Inc. raised its position in Baidu by 10.3% in the first quarter. Barnett & Company Inc. now owns 800 shares of the information services provider’s stock valued at $138,000 after buying an additional 75 shares during the last quarter. Integrated Investment Consultants LLC acquired a new stake in shares of Baidu during the second quarter valued at about $152,000. IHT Wealth Management LLC increased its stake in shares of Baidu by 6.0% in the first quarter. IHT Wealth Management LLC now owns 1,141 shares of the information services provider’s stock valued at $197,000 after buying an additional 65 shares during the period. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Baidu during the first quarter valued at about $202,000. Finally, ProVise Management Group LLC acquired a new stake in shares of Baidu during the first quarter valued at about $202,000. 65.25% of the stock is currently owned by institutional investors and hedge funds.
Shares of Baidu, Inc. (BIDU) traded up 1.01% during midday trading on Tuesday, hitting $229.45. The company had a trading volume of 4,021,849 shares. The firm has a market capitalization of $79.56 billion, a P/E ratio of 43.28 and a beta of 1.95. The stock has a 50 day moving average price of $187.72 and a 200 day moving average price of $181.17. Baidu, Inc. has a 1-year low of $159.54 and a 1-year high of $233.37.
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Several equities research analysts have issued reports on BIDU shares. Benchmark Co. assumed coverage on Baidu in a report on Tuesday, April 18th. They issued a “buy” rating and a $190.00 price target for the company. Vetr downgraded Baidu from a “strong-buy” rating to a “buy” rating and set a $196.20 price objective for the company. in a report on Wednesday, April 19th. J P Morgan Chase & Co restated a “neutral” rating and issued a $190.00 price target on shares of Baidu in a research note on Friday, April 28th. Credit Suisse Group restated a “hold” rating and issued a $180.00 price target on shares of Baidu in a research note on Friday, April 28th. Finally, Jefferies Group LLC raised their price objective on Baidu from $188.00 to $208.00 and gave the company a “buy” rating in a research report on Monday, May 1st. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Baidu has an average rating of “Buy” and a consensus price target of $209.80.
Baidu Company Profile
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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