CIBC Asset Management Inc Raises Holdings in Baidu Inc (BIDU)
CIBC Asset Management Inc raised its stake in shares of Baidu Inc (NASDAQ:BIDU) by 4.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,045 shares of the information services provider’s stock after buying an additional 745 shares during the period. CIBC Asset Management Inc’s holdings in Baidu were worth $3,758,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of BIDU. Mitsubishi UFJ Securities Holdings Co. Ltd. lifted its stake in shares of 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 purchasing an additional 240 shares during the last quarter. Invictus RG acquired a new stake in shares of Baidu in the 3rd quarter valued at $193,000. Wellington Shields Capital Management LLC acquired a new stake in shares of Baidu in the 3rd quarter valued at $208,000. Wellington Shields & Co. LLC acquired a new stake in shares of Baidu in the 3rd quarter valued at $211,000. Finally, Ballentine Partners LLC acquired a new stake in shares of Baidu in the 3rd quarter valued at $212,000. 63.94% of the stock is owned by institutional investors.
Several equities research analysts recently issued reports on the stock. Jefferies Group lowered shares of Baidu from a “buy” rating to a “hold” rating in a research note on Tuesday, January 23rd. OTR Global lowered shares of Baidu to a “positive” rating in a research note on Monday. Nomura lowered shares of Baidu from a “buy” rating to a “neutral” rating in a research note on Monday, January 29th. BidaskClub lowered shares of Baidu from a “hold” rating to a “sell” rating in a research note on Tuesday, January 23rd. Finally, Barclays lifted their price objective on shares of Baidu from $240.00 to $250.00 and gave the company an “equal weight” rating in a research note on Friday, January 26th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $239.75.
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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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