State of New Jersey Common Pension Fund D raised its stake in shares of Baidu, Inc. (NASDAQ:BIDU) by 3.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 315,389 shares of the information services provider’s stock after acquiring an additional 9,666 shares during the quarter. State of New Jersey Common Pension Fund D owned approximately 0.09% of Baidu worth $78,118,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Grove Bank & Trust lifted its holdings in shares of Baidu by 74.2% during the second 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 during the period. Shine Investment Advisory Services Inc. bought a new position in shares of Baidu during the second quarter valued at $112,000. Harbour Capital Advisors LLC lifted its holdings in shares of Baidu by 17,786.3% during the second 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 during the period. Aviance Capital Management LLC bought a new position in shares of Baidu during the second quarter valued at $124,000. Finally, Highstreet Asset Management Inc. bought a new position in shares of Baidu during the second quarter valued at $146,000. 64.38% of the stock is owned by institutional investors.
Baidu, Inc. (BIDU) opened at $237.40 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.71 and a quick ratio of 1.71. Baidu, Inc. has a 12-month low of $159.54 and a 12-month high of $274.97. The stock has a market capitalization of $83,243.21, a P/E ratio of 30.39, a P/E/G ratio of 1.43 and a beta of 1.94.
A number of research analysts have issued reports on the company. Macquarie raised Baidu from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $189.00 to $252.00 in a report on Friday, July 28th. Oppenheimer Holdings, Inc. lifted their price objective on Baidu from $250.00 to $295.00 and gave the company an “outperform” rating in a report on Tuesday, October 31st. HSBC Holdings plc reissued a “buy” rating and set a $245.00 price objective (up from $223.00) on shares of Baidu in a report on Tuesday, August 1st. J P Morgan Chase & Co cut their price objective on Baidu from $230.00 to $225.00 and set a “neutral” rating for the company in a report on Monday, October 30th. Finally, Instinet raised Baidu from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $180.00 to $241.00 in a report on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $234.70.
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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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