ProShare Advisors LLC Buys 15,594 Shares of Baidu, Inc. (BIDU)

ProShare Advisors LLC increased its stake in shares of Baidu, Inc. (NASDAQ:BIDU) by 24.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 78,917 shares of the information services provider’s stock after purchasing an additional 15,594 shares during the quarter. ProShare Advisors LLC’s holdings in Baidu were worth $14,115,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. BlackRock Inc. increased its position in Baidu by 4,625.7% during the 1st quarter. BlackRock Inc. now owns 11,974,528 shares of the information services provider’s stock worth $2,065,846,000 after purchasing an additional 11,721,135 shares in the last quarter. Artisan Partners Limited Partnership increased its position in Baidu by 8.9% during the 1st quarter. Artisan Partners Limited Partnership now owns 7,639,967 shares of the information services provider’s stock worth $1,318,047,000 after purchasing an additional 621,382 shares in the last quarter. Franklin Resources Inc. increased its position in Baidu by 7.4% during the 2nd quarter. Franklin Resources Inc. now owns 7,219,564 shares of the information services provider’s stock worth $1,291,291,000 after purchasing an additional 498,060 shares in the last quarter. Lazard Asset Management LLC increased its position in Baidu by 2.4% during the 1st quarter. Lazard Asset Management LLC now owns 5,741,885 shares of the information services provider’s stock worth $990,588,000 after purchasing an additional 132,261 shares in the last quarter. Finally, State Street Corp increased its position in Baidu by 5.7% during the 1st quarter. State Street Corp now owns 4,532,089 shares of the information services provider’s stock worth $781,879,000 after purchasing an additional 242,459 shares in the last quarter. Hedge funds and other institutional investors own 64.15% of the company’s stock.

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Shares of Baidu, Inc. (NASDAQ:BIDU) traded down 0.89% during midday trading on Friday, hitting $235.21. The company had a trading volume of 5,230,285 shares. The company’s 50 day moving average is $226.89 and its 200 day moving average is $192.20. The firm has a market cap of $81.56 billion, a price-to-earnings ratio of 43.37 and a beta of 1.98. Baidu, Inc. has a one year low of $159.54 and a one year high of $239.16.

A number of analysts recently commented on the company. Vetr cut Baidu from a “strong-buy” rating to a “buy” rating and set a $265.83 price objective for the company. in a research report on Wednesday. Citigroup Inc. reiterated a “hold” rating and set a $253.00 price objective on shares of Baidu in a research report on Thursday. Instinet upgraded Baidu from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $180.00 to $241.00 in a research report on Monday, July 31st. HSBC Holdings plc reiterated a “buy” rating and set a $245.00 price objective (up previously from $223.00) on shares of Baidu in a research report on Tuesday, August 1st. Finally, TheStreet upgraded Baidu from a “c+” rating to a “b” rating in a research report on Monday, July 31st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $213.36.

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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