Punch Card Management L.P. reduced its holdings in Baidu, Inc. (NASDAQ:BIDU) by 58.4% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 227,159 shares of the information services provider’s stock after selling 319,020 shares during the period. Baidu makes up 25.8% of Punch Card Management L.P.’s portfolio, making the stock its 2nd largest holding. Punch Card Management L.P. owned approximately 0.07% of Baidu worth $40,630,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of BIDU. Stifel Financial Corp grew its stake in shares of Baidu by 15.6% in the 1st quarter. Stifel Financial Corp now owns 16,580 shares of the information services provider’s stock worth $2,862,000 after buying an additional 2,234 shares in the last quarter. American International Group Inc. grew its stake in shares of Baidu by 0.7% in the 1st quarter. American International Group Inc. now owns 15,424 shares of the information services provider’s stock worth $2,661,000 after buying an additional 107 shares in the last quarter. Motley Fool Wealth Management LLC grew its stake in shares of Baidu by 2.3% in the 1st quarter. Motley Fool Wealth Management LLC now owns 15,708 shares of the information services provider’s stock worth $2,710,000 after buying an additional 347 shares in the last quarter. BB&T Securities LLC grew its stake in shares of Baidu by 12.0% in the 1st quarter. BB&T Securities LLC now owns 25,498 shares of the information services provider’s stock worth $4,398,000 after buying an additional 2,734 shares in the last quarter. Finally, River & Mercantile Asset Management LLP grew its stake in shares of Baidu by 83.1% in the 1st quarter. River & Mercantile Asset Management LLP now owns 22,920 shares of the information services provider’s stock worth $3,955,000 after buying an additional 10,400 shares in the last quarter. 64.15% of the stock is owned by institutional investors and hedge funds.

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A number of brokerages have commented on BIDU. Zacks Investment Research raised shares of Baidu from a “hold” rating to a “buy” rating and set a $265.00 price objective for the company in a research note on Wednesday, September 27th. HSBC Holdings plc reissued a “buy” rating and issued a $282.00 price objective (up from $245.00) on shares of Baidu in a research note on Wednesday, September 27th. Wells Fargo & Company began coverage on shares of Baidu in a research note on Tuesday, September 26th. They issued an “outperform” rating and a $290.00 price objective for the company. Vetr raised shares of Baidu from a “buy” rating to a “strong-buy” rating and set a $265.83 price objective for the company in a research note on Tuesday, September 26th. Finally, Bank of America Corporation reissued a “buy” rating and issued a $263.00 price objective on shares of Baidu in a research note on Monday, September 18th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $223.12.

Baidu, Inc. (NASDAQ BIDU) traded up 0.06% during midday trading on Friday, hitting $245.42. 456,675 shares of the stock traded hands. The firm has a market cap of $85.10 billion, a P/E ratio of 44.74 and a beta of 1.99. Baidu, Inc. has a 12-month low of $159.54 and a 12-month high of $250.57. The company’s 50-day moving average is $233.27 and its 200 day moving average is $198.93.

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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