Cigna Investments Inc. New Has $1,207,000 Stake in Baidu, Inc. (BIDU)
Cigna Investments Inc. New maintained its position in Baidu, Inc. (NASDAQ:BIDU) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,749 shares of the information services provider’s stock at the end of the second quarter. Cigna Investments Inc. New’s holdings in Baidu were worth $1,207,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in the stock. Grove Bank & Trust increased its position in Baidu by 74.2% in the second quarter. Grove Bank & Trust now owns 594 shares of the information services provider’s stock valued at $106,000 after buying an additional 253 shares in the last quarter. Shine Investment Advisory Services Inc. bought a new position in Baidu during the second quarter valued at approximately $112,000. Harbour Capital Advisors LLC increased its position in Baidu by 17,786.3% in the second quarter. Harbour Capital Advisors LLC now owns 20,927 shares of the information services provider’s stock valued at $117,000 after buying an additional 20,810 shares in the last quarter. Barnett & Company Inc. increased its position in Baidu by 10.3% in the first quarter. Barnett & Company Inc. now owns 800 shares of the information services provider’s stock valued at $138,000 after buying an additional 75 shares in the last quarter. Finally, Integrated Investment Consultants LLC bought a new position in Baidu during the second quarter valued at approximately $152,000. Hedge funds and other institutional investors own 65.25% of the company’s stock.
Shares of Baidu, Inc. (NASDAQ BIDU) opened at 230.30 on Thursday. Baidu, Inc. has a 12 month low of $159.54 and a 12 month high of $233.37. The stock’s 50 day moving average is $196.29 and its 200 day moving average is $183.30. The firm has a market cap of $79.86 billion, a P/E ratio of 43.16 and a beta of 1.95.
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Several research firms have commented on BIDU. Macquarie upgraded shares of Baidu from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $189.00 to $252.00 in a report on Friday, July 28th. HSBC Holdings plc reissued a “buy” rating and issued a $245.00 target price (up previously from $223.00) on shares of Baidu in a research report on Tuesday, August 1st. Jefferies Group LLC boosted their target price on shares of Baidu from $188.00 to $208.00 and gave the company a “buy” rating in a research report on Monday, May 1st. Benchmark Co. assumed coverage on shares of Baidu in a research report on Tuesday, April 18th. They issued a “buy” rating and a $190.00 target price for the company. Finally, Instinet raised shares of Baidu from a “neutral” rating to a “buy” rating and boosted their target price for the company from $180.00 to $241.00 in a research report on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Baidu has an average rating of “Buy” and an average target price of $209.80.
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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