Morningstar Investment Services LLC Has $16.63 Million Holdings in Baidu, Inc. (BIDU)
Morningstar Investment Services LLC raised its position in shares of Baidu, Inc. (NASDAQ:BIDU) by 8.1% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 67,158 shares of the information services provider’s stock after buying an additional 5,010 shares during the period. Morningstar Investment Services LLC’s holdings in Baidu were worth $16,634,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Sloane Robinson LLP bought a new position in Baidu in the 3rd quarter worth $25,363,000. ARGA Investment Management LP raised its holdings in Baidu by 1.1% in the 3rd quarter. ARGA Investment Management LP now owns 618,700 shares of the information services provider’s stock worth $153,246,000 after purchasing an additional 7,000 shares in the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. raised its holdings in Baidu by 96.0% in the 3rd quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 490 shares of the information services provider’s stock worth $121,000 after purchasing an additional 240 shares in the last quarter. ING Groep NV raised its holdings in Baidu by 317.8% in the 3rd quarter. ING Groep NV now owns 47,701 shares of the information services provider’s stock worth $11,815,000 after purchasing an additional 36,283 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Baidu by 12.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 91,288 shares of the information services provider’s stock worth $22,611,000 after purchasing an additional 9,745 shares in the last quarter. 64.42% of the stock is owned by institutional investors and hedge funds.
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Several research analysts have commented on the stock. Macquarie upgraded shares of Baidu from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $189.00 to $252.00 in a report on Friday, July 28th. Oppenheimer Holdings, Inc. upped their price objective on shares of Baidu from $250.00 to $295.00 and gave the stock an “outperform” rating in a report on Tuesday, October 31st. restated a “buy” rating and issued a $245.00 price objective (up from $223.00) on shares of Baidu in a report on Tuesday, August 1st. J P Morgan Chase & Co decreased their price objective on shares of Baidu from $230.00 to $225.00 and set a “neutral” rating for the company in a report on Monday, October 30th. Finally, Instinet upgraded shares of Baidu from a “neutral” rating to a “buy” rating and increased their price target for the stock from $180.00 to $241.00 in a research note on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the company. Baidu presently has a consensus rating of “Buy” and an average target price of $236.36.
Baidu, Inc. (NASDAQ:BIDU) traded up $5.35 during trading hours on Thursday, reaching $249.65. 3,472,897 shares of the company’s stock were exchanged, compared to its average volume of 2,582,003. The company has a market cap of $84,713.47, a price-to-earnings ratio of 30.92, a P/E/G ratio of 1.45 and a beta of 1.94. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.71 and a current ratio of 1.71. Baidu, Inc. has a 1-year low of $160.79 and a 1-year high of $274.97.
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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