AlphaStar Capital Management LLC Takes Position in Baidu Inc (BIDU)

AlphaStar Capital Management LLC purchased a new stake in shares of Baidu Inc (NASDAQ:BIDU) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,325 shares of the information services provider’s stock, valued at approximately $576,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of BIDU. Harding Loevner LP grew its position in Baidu by 7,512.3% during the third quarter. Harding Loevner LP now owns 299,359,034 shares of the information services provider’s stock valued at $597,992,000 after buying an additional 295,426,466 shares during the period. Capital World Investors boosted its position 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 purchasing an additional 3,419,291 shares during the period. Harris Associates L P boosted its position 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 purchasing an additional 2,066,614 shares during the period. Investec Asset Management LTD boosted its position in Baidu by 3,282.3% during the third quarter. Investec Asset Management LTD now owns 1,202,148 shares of the information services provider’s stock worth $297,760,000 after purchasing an additional 1,166,606 shares during the period. Finally, Veritas Asset Management LLP boosted its position 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 purchasing an additional 920,687 shares during the period. Institutional investors own 64.04% of the company’s stock.

A number of brokerages have weighed in on BIDU. Vetr upgraded 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 report on Tuesday, September 26th. Wells Fargo & Company began coverage on shares of Baidu in a research report on Tuesday, September 26th. They set an “outperform” rating and a $290.00 target price for the company. Oppenheimer increased their target price on shares of Baidu from $250.00 to $295.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 31st. Bank of America reiterated a “buy” rating and set a $263.00 target price on shares of Baidu in a research report on Monday, September 18th. Finally, Citigroup reiterated a “hold” rating and set a $253.00 target price on shares of Baidu in a research report on Thursday, September 14th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $236.36.

Shares of Baidu Inc (NASDAQ BIDU) opened at $234.59 on Monday. Baidu Inc has a fifty-two week low of $162.02 and a fifty-two week high of $274.97. The stock has a market cap of $81,350.00, a PE ratio of 29.69, a PEG ratio of 1.39 and a beta of 1.89. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.71 and a quick ratio of 1.71.

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Baidu Company Profile

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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