Pacad Investment Ltd. reduced its position in shares of Baidu, Inc. (NASDAQ:BIDU) by 27.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,344 shares of the information services provider’s stock after selling 7,433 shares during the period. Baidu makes up 0.5% of Pacad Investment Ltd.’s investment portfolio, making the stock its 26th largest position. Pacad Investment Ltd.’s holdings in Baidu were worth $3,460,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of BIDU. Principal Financial Group Inc. increased its position in Baidu by 0.4% in the first quarter. Principal Financial Group Inc. now owns 1,346 shares of the information services provider’s stock worth $232,000 after buying an additional 6 shares during the period. IFP Advisors Inc increased its position in Baidu by 0.6% in the first quarter. IFP Advisors Inc now owns 1,596 shares of the information services provider’s stock worth $275,000 after buying an additional 9 shares during the period. Boston Private Wealth LLC increased its position in Baidu by 0.4% in the first quarter. Boston Private Wealth LLC now owns 2,018 shares of the information services provider’s stock worth $348,000 after buying an additional 9 shares during the period. Cambridge Advisors Inc. increased its position in Baidu by 0.6% in the second quarter. Cambridge Advisors Inc. now owns 1,583 shares of the information services provider’s stock worth $283,000 after buying an additional 10 shares during the period. Finally, Ameritas Investment Partners Inc. increased its position in Baidu by 0.6% in the first quarter. Ameritas Investment Partners Inc. now owns 4,949 shares of the information services provider’s stock worth $854,000 after buying an additional 28 shares during the period. 64.15% of the stock is currently owned by institutional investors.

Shares of Baidu, Inc. (NASDAQ BIDU) traded up 0.64% during trading on Thursday, hitting $225.31. The stock had a trading volume of 581,718 shares. The firm has a 50-day moving average of $210.64 and a 200 day moving average of $187.42. The company has a market capitalization of $78.13 billion, a P/E ratio of 42.00 and a beta of 1.95. Baidu, Inc. has a 1-year low of $159.54 and a 1-year high of $233.37.

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A number of research firms have recently weighed in on BIDU. BidaskClub raised Baidu from a “sell” rating to a “hold” rating in a research note on Thursday, June 22nd. Jefferies Group LLC reissued a “buy” rating and issued a $208.00 price target on shares of Baidu in a research note on Monday, June 19th. ValuEngine raised Baidu from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. HSBC Holdings plc reissued a “buy” rating and issued a $223.00 price target on shares of Baidu in a research note on Monday, July 10th. Finally, Macquarie raised Baidu from a “neutral” rating to an “outperform” rating and increased their price target for the company from $189.00 to $252.00 in a research note on Friday, July 28th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company’s stock. 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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