Fmr LLC grew its holdings in Baidu, Inc. (NASDAQ:BIDU) by 39.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 796,164 shares of the information services provider’s stock after purchasing an additional 224,348 shares during the quarter. Fmr LLC owned about 0.23% of Baidu worth $142,402,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. Grove Bank & Trust boosted its stake in Baidu by 74.2% in the second quarter. Grove Bank & Trust now owns 594 shares of the information services provider’s stock worth $106,000 after purchasing an additional 253 shares in the last quarter. Shine Investment Advisory Services Inc. acquired a new position in Baidu in the second quarter worth $112,000. Highstreet Asset Management Inc. acquired a new position in Baidu in the second quarter worth $146,000. Integrated Investment Consultants LLC acquired a new position in Baidu in the second quarter worth $152,000. Finally, Chicago Partners Investment Group LLC acquired a new position in Baidu in the second quarter worth $171,000. 64.15% of the stock is currently owned by institutional investors.
Baidu, Inc. (BIDU) opened at 247.69 on Friday. The firm has a market capitalization of $85.89 billion, a PE ratio of 45.15 and a beta of 1.99. Baidu, Inc. has a 12 month low of $159.54 and a 12 month high of $250.57. The company’s 50-day moving average price is $234.03 and its 200 day moving average price is $199.45.
BIDU has been the topic of a number of recent analyst reports. Vetr lowered Baidu from a “strong-buy” rating to a “buy” rating and set a $265.83 price objective on the stock. in a research note on Tuesday, September 19th. Credit Suisse Group reissued an “outperform” rating on shares of Baidu in a research note on Thursday, August 31st. BidaskClub raised Baidu from a “sell” rating to a “hold” rating in a research note on Thursday, June 22nd. Citigroup Inc. reissued a “hold” rating and issued a $253.00 price objective on shares of Baidu in a research note on Thursday, September 14th. Finally, Macquarie reissued a “top pick” rating on shares of Baidu in a research note on Monday, August 28th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $223.12.
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.