Migdal Insurance & Financial Holdings Ltd. boosted its stake in shares of Baidu, Inc. (NASDAQ:BIDU) by 20.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,378 shares of the information services provider’s stock after buying an additional 400 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.’s holdings in Baidu were worth $427,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in BIDU. BlackRock Inc. boosted its stake in Baidu by 4,625.7% during the first quarter. BlackRock Inc. now owns 11,974,528 shares of the information services provider’s stock worth $2,065,846,000 after buying an additional 11,721,135 shares during the period. Capital World Investors boosted its stake in Baidu by 54.2% during the second quarter. Capital World Investors now owns 9,726,375 shares of the information services provider’s stock worth $1,739,659,000 after buying an additional 3,419,291 shares during the period. Harris Associates L P boosted its stake in Baidu by 29.7% during the second quarter. Harris Associates L P now owns 9,015,196 shares of the information services provider’s stock worth $1,612,458,000 after buying an additional 2,066,614 shares during the period. Cambiar Investors LLC purchased a new position in Baidu during the second quarter worth about $274,670,000. Finally, Veritas Asset Management LLP boosted its stake in Baidu by 37.1% during the second quarter. Veritas Asset Management LLP now owns 3,404,298 shares of the information services provider’s stock worth $608,893,000 after buying an additional 920,687 shares during the period. 64.15% of the stock is owned by institutional investors.

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Several brokerages have weighed in on BIDU. Zacks Investment Research raised shares of Baidu from a “hold” rating to a “buy” rating and set a $265.00 target price for the company in a research note on Wednesday, September 27th. HSBC Holdings plc reaffirmed a “buy” rating and set a $282.00 target price (up previously 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 set an “outperform” rating and a $290.00 target price for the company. Vetr raised shares of Baidu from a “buy” rating to a “strong-buy” rating and set a $265.83 target price for the company in a research note on Tuesday, September 26th. Finally, Bank of America Corporation reaffirmed a “buy” rating and set a $263.00 target price on shares of Baidu in a research note on Monday, September 18th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $223.12.

Shares of Baidu, Inc. (NASDAQ BIDU) traded up 2.27% during mid-day trading on Tuesday, reaching $257.94. 1,388,002 shares of the company traded hands. The company has a market capitalization of $89.44 billion, a P/E ratio of 47.02 and a beta of 1.99. Baidu, Inc. has a 52-week low of $159.54 and a 52-week high of $259.83. The firm’s 50 day moving average price is $234.93 and its 200-day moving average price is $200.46.

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.

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Institutional Ownership by Quarter for Baidu (NASDAQ:BIDU)

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