1,078 Shares in Baidu Inc (BIDU) Acquired by Financial Counselors Inc.
Financial Counselors Inc. bought a new stake in Baidu Inc (NASDAQ:BIDU) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,078 shares of the information services provider’s stock, valued at approximately $267,000.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Harding Loevner LP boosted its stake in shares of Baidu by 7,512.3% in the 3rd quarter. Harding Loevner LP now owns 299,359,034 shares of the information services provider’s stock valued at $597,992,000 after purchasing an additional 295,426,466 shares during the last quarter. Capital World Investors boosted its stake in shares of Baidu by 54.2% in the 2nd quarter. Capital World Investors now owns 9,726,375 shares of the information services provider’s stock valued at $1,739,659,000 after purchasing an additional 3,419,291 shares during the last quarter. Harris Associates L P boosted its stake in shares of Baidu by 29.7% in the 2nd quarter. Harris Associates L P now owns 9,015,196 shares of the information services provider’s stock valued at $1,612,458,000 after purchasing an additional 2,066,614 shares during the last quarter. Artisan Partners Limited Partnership boosted its stake in shares of Baidu by 4.4% in the 2nd quarter. Artisan Partners Limited Partnership now owns 7,975,135 shares of the information services provider’s stock valued at $1,426,433,000 after purchasing an additional 335,168 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of Baidu by 7.4% in the 2nd quarter. Franklin Resources Inc. now owns 7,219,564 shares of the information services provider’s stock valued at $1,291,291,000 after purchasing an additional 498,060 shares during the last quarter. 64.04% of the stock is currently owned by institutional investors.
Shares of Baidu Inc (NASDAQ:BIDU) opened at $231.15 on Thursday. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.34. 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 $79,636.91, a P/E ratio of 29.07, a PEG ratio of 1.36 and a beta of 1.89.
Several research analysts have recently issued reports on BIDU shares. Credit Suisse Group reaffirmed an “outperform” rating on shares of Baidu in a research note on Thursday, August 31st. Jefferies Group raised their target price on shares of Baidu from $232.00 to $305.00 and gave the company a “buy” rating in a research note on Friday, October 20th. Erste Group raised shares of Baidu from a “sell” rating to a “hold” rating in a research note on Monday, August 21st. Macquarie reissued a “top pick” rating on shares of Baidu in a research note on Monday, August 28th. Finally, OTR Global raised shares of Baidu to a “positive” rating in a research note on Wednesday, October 25th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $236.36.
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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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