Baidu, Inc. (BIDU) Shares Sold by FIL Ltd
FIL Ltd lowered its holdings in shares of Baidu, Inc. (NASDAQ:BIDU) by 39.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,246,080 shares of the information services provider’s stock after selling 1,470,867 shares during the quarter. Baidu accounts for about 1.2% of FIL Ltd’s portfolio, making the stock its 16th biggest position. FIL Ltd owned about 0.65% of Baidu worth $401,734,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in BIDU. Grove Bank & Trust raised its position in shares of Baidu by 74.2% during 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 during the period. Shine Investment Advisory Services Inc. acquired a new stake in shares of Baidu during the second quarter worth about $112,000. Harbour Capital Advisors LLC raised its position in shares of Baidu by 17,786.3% during the second quarter. Harbour Capital Advisors LLC now owns 20,927 shares of the information services provider’s stock worth $117,000 after purchasing an additional 20,810 shares during the period. Highstreet Asset Management Inc. acquired a new stake in shares of Baidu during the second quarter worth about $146,000. Finally, Integrated Investment Consultants LLC acquired a new stake in shares of Baidu during the second quarter worth about $152,000. 64.14% of the stock is currently owned by institutional investors.
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A number of equities research analysts have recently commented on the company. Macquarie raised Baidu from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $189.00 to $252.00 in a research report on Friday, July 28th. HSBC Holdings plc reaffirmed a “buy” rating and set a $245.00 price target (up previously from $223.00) on shares of Baidu in a research report on Tuesday, August 1st. Instinet upgraded Baidu from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $180.00 to $241.00 in a report on Monday, July 31st. Sanford C. Bernstein reiterated an “underperform” rating and set a $152.00 price objective (down from $188.00) on shares of Baidu in a report on Friday, July 14th. Finally, TheStreet downgraded Baidu from a “b-” rating to a “c+” rating in a report on Thursday, June 22nd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $215.51.
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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