Artisan Partners Limited Partnership boosted its stake in shares of Baidu, Inc. (NASDAQ:BIDU) by 4.4% 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 7,975,135 shares of the information services provider’s stock after buying an additional 335,168 shares during the quarter. Baidu accounts for about 2.7% of Artisan Partners Limited Partnership’s holdings, making the stock its 5th biggest holding. Artisan Partners Limited Partnership owned approximately 2.30% of Baidu worth $1,426,433,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
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. Cambiar Investors LLC purchased a new position in Baidu during the second quarter worth about $274,670,000. 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. Causeway Capital Management LLC boosted its stake in Baidu by 20.4% during the first quarter. Causeway Capital Management LLC now owns 3,604,537 shares of the information services provider’s stock worth $621,855,000 after buying an additional 611,124 shares during the period. Finally, FIL Ltd boosted its stake in Baidu by 16.5% during the first quarter. FIL Ltd now owns 3,716,947 shares of the information services provider’s stock worth $641,247,000 after buying an additional 525,261 shares during the period. 64.15% of the stock is owned by institutional investors.
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Baidu, Inc. (NASDAQ BIDU) traded down 0.89% during mid-day trading on Friday, reaching $235.21. 5,230,285 shares of the company’s stock were exchanged. The company’s 50 day moving average price is $226.89 and its 200-day moving average price is $192.20. The company has a market capitalization of $81.56 billion, a P/E ratio of 43.37 and a beta of 1.98. Baidu, Inc. has a 52 week low of $159.54 and a 52 week high of $239.16.
Several research analysts have weighed in on the stock. Vetr lowered shares of Baidu from a “strong-buy” rating to a “buy” rating and set a $265.83 target price for the company. in a research note on Wednesday. Citigroup Inc. reaffirmed a “hold” rating and set a $253.00 target price on shares of Baidu in a research note on Thursday. Instinet raised shares of Baidu from a “neutral” rating to a “buy” rating and increased their target price for the stock from $180.00 to $241.00 in a research note on Monday, July 31st. HSBC Holdings plc reaffirmed a “buy” rating and set a $245.00 target price (up previously from $223.00) on shares of Baidu in a research note on Tuesday, August 1st. Finally, BidaskClub raised shares of Baidu from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 4th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $213.36.
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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