DAVENPORT & Co LLC boosted its position in Baidu Inc (NASDAQ:BIDU) by 19.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,499 shares of the information services provider’s stock after buying an additional 410 shares during the period. DAVENPORT & Co LLC’s holdings in Baidu were worth $585,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Mitsubishi UFJ Securities Holdings Co. Ltd. increased its position in Baidu by 96.0% in the 3rd quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 490 shares of the information services provider’s stock valued at $121,000 after buying an additional 240 shares in the last quarter. Aviance Capital Management LLC acquired a new position in Baidu during the 2nd quarter valued at about $124,000. Invictus RG acquired a new position in Baidu during the 3rd quarter valued at about $193,000. Wellington Shields Capital Management LLC acquired a new position in Baidu during the 3rd quarter valued at about $208,000. Finally, Wellington Shields & Co. LLC purchased a new position in shares of Baidu in the 3rd quarter worth approximately $211,000. 63.94% of the stock is owned by institutional investors and hedge funds.
Shares of Baidu Inc (BIDU) traded down $1.96 during mid-day trading on Wednesday, reaching $255.82. 1,410,000 shares of the company’s stock were exchanged, compared to its average volume of 2,270,000. 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 1-year low of $166.00 and a 1-year high of $274.97. The company has a market cap of $88,830.00, a PE ratio of 36.08, a price-to-earnings-growth ratio of 1.53 and a beta of 1.89.
BIDU has been the topic of a number of research analyst reports. Vetr downgraded Baidu from a “strong-buy” rating to a “buy” rating and set a $265.83 target price on the stock. in a research note on Tuesday, September 19th. Barclays set a $250.00 target price on Baidu and gave the stock a “hold” rating in a research note on Thursday, October 19th. Zacks Investment Research downgraded Baidu from a “buy” rating to a “hold” rating in a research note on Monday, December 18th. BidaskClub downgraded Baidu from a “hold” rating to a “sell” rating in a research note on Saturday, December 30th. Finally, Jefferies Group boosted their target price on Baidu from $232.00 to $305.00 and gave the stock a “buy” rating in a research note on Friday, October 20th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $234.77.
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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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