Baidu, Inc. (BIDU) Position Cut by Orbis Allan Gray Ltd
Orbis Allan Gray Ltd lowered its position in shares of Baidu, Inc. (NASDAQ:BIDU) by 3.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,391,312 shares of the information services provider’s stock after selling 128,248 shares during the quarter. Baidu makes up approximately 3.8% of Orbis Allan Gray Ltd’s holdings, making the stock its 9th biggest holding. Orbis Allan Gray Ltd owned approximately 0.98% of Baidu worth $606,570,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in BIDU. Grove Bank & Trust raised its holdings in Baidu by 74.2% in the 2nd quarter. Grove Bank & Trust now owns 594 shares of the information services provider’s stock valued at $106,000 after acquiring an additional 253 shares during the last quarter. Shine Investment Advisory Services Inc. purchased a new position in shares of Baidu during the 2nd quarter worth $112,000. Aviance Capital Management LLC purchased a new position in shares of Baidu during the 2nd quarter worth $124,000. Highstreet Asset Management Inc. purchased a new position in shares of Baidu during the 2nd quarter worth $146,000. Finally, Integrated Investment Consultants LLC purchased a new position in shares of Baidu during the 2nd quarter worth $152,000. Hedge funds and other institutional investors own 64.15% of the company’s stock.
Shares of Baidu, Inc. (NASDAQ:BIDU) traded up 0.08% during trading on Tuesday, reaching $248.88. 1,070,228 shares of the company’s stock were exchanged. Baidu, Inc. has a 52-week low of $159.54 and a 52-week high of $250.57. The firm has a market capitalization of $86.30 billion, a P/E ratio of 45.37 and a beta of 1.99. The company has a 50 day moving average of $231.52 and a 200 day moving average of $197.76.
TRADEMARK VIOLATION NOTICE: “Baidu, Inc. (BIDU) Position Cut by Orbis Allan Gray Ltd” was first posted by Watch List News and is owned by of Watch List News. If you are reading this story on another site, it was copied illegally and reposted in violation of U.S. & international trademark and copyright law. The original version of this story can be viewed at https://www.watchlistnews.com/baidu-inc-bidu-position-cut-by-orbis-allan-gray-ltd/1605639.html.
BIDU has been the topic of several analyst reports. Zacks Investment Research upgraded Baidu from a “hold” rating to a “buy” rating and set a $265.00 price objective on the stock in a report on Wednesday, September 27th. HSBC Holdings plc reiterated a “buy” rating and issued a $282.00 target price (up from $245.00) on shares of Baidu in a research note on Wednesday, September 27th. Wells Fargo & Company initiated coverage on Baidu in a research note on Tuesday, September 26th. They issued an “outperform” rating and a $290.00 target price for the company. Vetr upgraded Baidu from a “buy” rating to a “strong-buy” rating and set a $265.83 target price on the stock in a research report on Tuesday, September 26th. Finally, Bank of America Corporation reiterated a “buy” rating and set a $263.00 target price on shares of Baidu in a research report on Monday, September 18th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target 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.
Want to see what other hedge funds are holding BIDU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Baidu, Inc. (NASDAQ:BIDU).
Receive News & Ratings for Baidu Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Baidu Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.