Teacher Retirement System of Texas Grows Holdings in Baidu, Inc. (BIDU)
Teacher Retirement System of Texas raised its position in Baidu, Inc. (NASDAQ:BIDU) by 67.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 103,479 shares of the information services provider’s stock after acquiring an additional 41,662 shares during the quarter. Teacher Retirement System of Texas’ holdings in Baidu were worth $25,631,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Grove Bank & Trust grew its position in Baidu by 74.2% in the 2nd quarter. Grove Bank & Trust now owns 594 shares of the information services provider’s stock valued at $106,000 after acquiring an additional 253 shares in the last quarter. Shine Investment Advisory Services Inc. acquired a new position in Baidu in the 2nd quarter valued at about $112,000. Harbour Capital Advisors LLC grew its position in Baidu by 17,786.3% in the 2nd quarter. Harbour Capital Advisors LLC now owns 20,927 shares of the information services provider’s stock valued at $117,000 after acquiring an additional 20,810 shares in the last quarter. Aviance Capital Management LLC acquired a new position in Baidu in the 2nd quarter valued at about $124,000. Finally, Highstreet Asset Management Inc. acquired a new position in shares of Baidu during the second quarter worth about $146,000. 64.64% of the stock is owned by institutional investors.
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BIDU has been the subject of a number of analyst reports. Jefferies Group LLC reissued a “buy” rating and set a $208.00 price objective on shares of Baidu in a research report on Saturday, July 22nd. Deutsche Bank AG reissued a “hold” rating and set a $201.00 price objective (up from $186.00) on shares of Baidu in a research report on Wednesday, July 26th. Cantor Fitzgerald raised Baidu from an “underweight” rating to an “overweight” rating and boosted their price objective for the stock from $156.00 to $260.00 in a research report on Friday, July 28th. Macquarie raised Baidu from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $189.00 to $252.00 in a research report on Friday, July 28th. Finally, Nomura raised Baidu from a “neutral” rating to a “buy” rating and set a $241.00 price target for the company in a report on Monday, July 31st. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $234.70.
Shares of Baidu, Inc. (BIDU) traded down $2.45 during trading hours on Wednesday, hitting $234.92. The company had a trading volume of 1,563,600 shares, compared to its average volume of 2,582,860. The stock has a market cap of $80,970.00, a P/E ratio of 30.05, a P/E/G ratio of 1.41 and a beta of 1.94. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.34. Baidu, Inc. has a 1-year low of $160.79 and a 1-year high of $274.97.
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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