Contrarius Investment Management Ltd decreased its position in Baidu, Inc. (NASDAQ:BIDU) by 29.7% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 62,514 shares of the information services provider’s stock after selling 26,406 shares during the period. Baidu makes up approximately 0.7% of Contrarius Investment Management Ltd’s investment portfolio, making the stock its 28th largest position. Contrarius Investment Management Ltd’s holdings in Baidu were worth $11,181,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Grove Bank & Trust boosted its stake in shares of 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 buying an additional 253 shares in the last quarter. Harris Associates L P raised its position in Baidu by 9.0% in the first quarter. Harris Associates L P now owns 6,948,582 shares of the information services provider’s stock worth $1,198,769,000 after buying an additional 572,298 shares during the last quarter. Capital Fund Management S.A. raised its position in Baidu by 67.4% in the first quarter. Capital Fund Management S.A. now owns 33,637 shares of the information services provider’s stock worth $5,803,000 after buying an additional 13,549 shares during the last quarter. Neuberger Berman Group LLC raised its position in Baidu by 1.5% in the first quarter. Neuberger Berman Group LLC now owns 1,307,575 shares of the information services provider’s stock worth $225,583,000 after buying an additional 19,932 shares during the last quarter. Finally, Marathon Asset Management LLP raised its position in Baidu by 45.8% in the second quarter. Marathon Asset Management LLP now owns 696,984 shares of the information services provider’s stock worth $124,661,000 after buying an additional 218,791 shares during the last quarter. Institutional investors own 64.15% of the company’s stock.

Baidu, Inc. (BIDU) traded down 0.96% during mid-day trading on Tuesday, hitting $217.87. The stock had a trading volume of 505,149 shares. The firm’s 50-day moving average is $210.64 and its 200 day moving average is $187.42. Baidu, Inc. has a 12 month low of $159.54 and a 12 month high of $233.37. The company has a market cap of $75.55 billion, a price-to-earnings ratio of 40.57 and a beta of 1.95.

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A number of research firms recently weighed in on BIDU. Macquarie raised Baidu from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $189.00 to $252.00 in a report on Friday, July 28th. HSBC Holdings plc reissued a “buy” rating and set a $245.00 target price (up from $223.00) on shares of Baidu in a report on Tuesday, August 1st. Jefferies Group LLC boosted their target price on Baidu from $188.00 to $208.00 and gave the stock a “buy” rating in a report on Monday, May 1st. Instinet raised Baidu from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $180.00 to $241.00 in a report on Monday, July 31st. Finally, Sanford C. Bernstein reissued an “underperform” rating and set a $152.00 target price (down from $188.00) on shares of Baidu in a report on Friday, July 14th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. Baidu currently has an average rating of “Buy” and a consensus price target of $209.80.

About Baidu

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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Institutional Ownership by Quarter for Baidu (NASDAQ:BIDU)

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