Burney Co. cut its stake in Baidu, Inc. (NASDAQ:BIDU) by 17.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,308 shares of the information services provider’s stock after selling 3,588 shares during the period. Burney Co.’s holdings in Baidu were worth $3,109,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Grove Bank & Trust increased its position in shares of Baidu by 74.2% in the second quarter. Grove Bank & Trust now owns 594 shares of the information services provider’s stock valued at $106,000 after buying an additional 253 shares in the last quarter. Shine Investment Advisory Services Inc. bought a new position in shares of Baidu during the second quarter valued at approximately $112,000. Harbour Capital Advisors LLC increased its position in shares of Baidu by 17,786.3% in the second quarter. Harbour Capital Advisors LLC now owns 20,927 shares of the information services provider’s stock valued at $117,000 after buying an additional 20,810 shares in the last quarter. Barnett & Company Inc. increased its position in shares of 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 in the last quarter. Finally, Highstreet Asset Management Inc. bought a new position in shares of Baidu during the second quarter valued at approximately $146,000. Institutional investors and hedge funds own 64.15% of the company’s stock.

Baidu, Inc. (NASDAQ:BIDU) opened at 232.64 on Friday. The firm has a 50-day moving average price of $216.28 and a 200-day moving average price of $188.96. The stock has a market capitalization of $80.67 billion, a PE ratio of 43.36 and a beta of 1.98. Baidu, Inc. has a 52 week low of $159.54 and a 52 week high of $233.79.

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Several research analysts have commented on BIDU shares. TheStreet upgraded Baidu from a “c+” rating to a “b” rating in a research note on Monday, July 31st. Jefferies Group LLC restated a “buy” rating and issued a $208.00 target price on shares of Baidu in a research note on Monday, June 19th. Vetr downgraded Baidu from a “strong-buy” rating to a “buy” rating and set a $199.19 target price for the company. in a research note on Monday, May 8th. HSBC Holdings plc restated a “buy” rating and issued a $223.00 target price on shares of Baidu in a research note on Monday, July 10th. Finally, Nomura upgraded Baidu from a “neutral” rating to a “buy” rating and set a $241.00 target price for the company in a research note on Monday, July 31st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Baidu presently has a consensus rating of “Buy” and a consensus price target of $209.80.

About Baidu

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.

Institutional Ownership by Quarter for Baidu (NASDAQ:BIDU)

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