Baidu Inc (BIDU) Holdings Trimmed by California Public Employees Retirement System
California Public Employees Retirement System trimmed its holdings in Baidu Inc (NASDAQ:BIDU) by 10.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 483,428 shares of the information services provider’s stock after selling 57,172 shares during the quarter. California Public Employees Retirement System owned approximately 0.14% of Baidu worth $119,740,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Tudor Investment Corp ET AL purchased a new stake in shares of Baidu during the 2nd quarter worth approximately $559,000. Comgest Global Investors S.A.S. raised its holdings in Baidu by 9.1% during the 2nd quarter. Comgest Global Investors S.A.S. now owns 2,659,934 shares of the information services provider’s stock valued at $475,756,000 after buying an additional 222,300 shares during the period. Pitcairn Co. raised its holdings in Baidu by 11.3% during the 3rd quarter. Pitcairn Co. now owns 7,479 shares of the information services provider’s stock valued at $1,852,000 after buying an additional 760 shares during the period. Lazard Asset Management LLC raised its holdings in Baidu by 2.4% during the 2nd quarter. Lazard Asset Management LLC now owns 5,879,990 shares of the information services provider’s stock valued at $1,051,693,000 after buying an additional 138,105 shares during the period. Finally, State of New Jersey Common Pension Fund D raised its holdings in Baidu by 3.2% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 315,389 shares of the information services provider’s stock valued at $78,118,000 after buying an additional 9,666 shares during the period. 64.04% of the stock is currently owned by institutional investors and hedge funds.
Shares of Baidu Inc (BIDU) opened at $234.59 on Monday. 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 52 week low of $162.02 and a 52 week high of $274.97. The firm has a market capitalization of $81,350.00, a price-to-earnings ratio of 29.69, a price-to-earnings-growth ratio of 1.39 and a beta of 1.89.
BIDU has been the topic of several recent research reports. Credit Suisse Group restated an “outperform” rating on shares of Baidu in a report on Thursday, August 31st. Jefferies Group increased their price target on Baidu from $232.00 to $305.00 and gave the company a “buy” rating in a report on Friday, October 20th. Erste Group upgraded Baidu from a “sell” rating to a “hold” rating in a report on Monday, August 21st. Macquarie restated a “top pick” rating on shares of Baidu in a report on Monday, August 28th. Finally, OTR Global upgraded Baidu to a “positive” rating in a report on Wednesday, October 25th. One analyst has rated the stock with a sell rating, nine have given a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the stock. The company currently 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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