Baidu, Inc. (BIDU) Shares Sold by Standard Life Investments LTD
Standard Life Investments LTD cut its stake in Baidu, Inc. (NASDAQ:BIDU) by 3.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 818,945 shares of the information services provider’s stock after selling 27,281 shares during the period. Standard Life Investments LTD owned 0.24% of Baidu worth $146,457,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Norinchukin Bank The lifted its holdings in Baidu by 0.7% in the second quarter. Norinchukin Bank The now owns 8,496 shares of the information services provider’s stock worth $1,520,000 after buying an additional 58 shares during the period. Ameriprise Financial Inc. lifted its holdings in Baidu by 25.7% in the second quarter. Ameriprise Financial Inc. now owns 300,156 shares of the information services provider’s stock worth $53,683,000 after buying an additional 61,442 shares during the period. Seven Eight Capital LP purchased a new stake in Baidu in the second quarter worth about $1,326,000. Fiera Capital Corp lifted its holdings in Baidu by 314.5% in the second quarter. Fiera Capital Corp now owns 79,900 shares of the information services provider’s stock worth $14,291,000 after buying an additional 60,625 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in Baidu by 19.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 7,184 shares of the information services provider’s stock worth $1,285,000 after buying an additional 1,152 shares during the period. Institutional investors and hedge funds own 64.15% of the company’s stock.
Baidu, Inc. (NASDAQ:BIDU) traded down 0.58% during midday trading on Wednesday, reaching $236.23. 1,556,953 shares of the company’s stock were exchanged. The stock’s 50-day moving average is $222.64 and its 200-day moving average is $190.65. Baidu, Inc. has a 12-month low of $159.54 and a 12-month high of $239.00. The stock has a market capitalization of $81.92 billion, a price-to-earnings ratio of 43.56 and a beta of 1.98.
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Several research firms have recently issued reports on BIDU. Macquarie upgraded shares of Baidu from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $189.00 to $252.00 in a report on Friday, July 28th. HSBC Holdings plc reiterated a “buy” rating and set a $245.00 target price (up from $223.00) on shares of Baidu in a report on Tuesday, August 1st. Instinet upgraded shares of Baidu from a “neutral” rating to a “buy” rating and lifted their target price for the company from $180.00 to $241.00 in a report on Monday, July 31st. Sanford C. Bernstein reiterated an “underperform” rating and set a $152.00 target price (down from $188.00) on shares of Baidu in a report on Friday, July 14th. Finally, TheStreet lowered shares of Baidu from a “b-” rating to a “c+” rating in a report on Thursday, June 22nd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $210.77.
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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