Prudential PLC Has $457.05 Million Stake in Baidu, Inc. (BIDU)
Prudential PLC decreased its stake in Baidu, Inc. (NASDAQ:BIDU) by 4.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,555,353 shares of the information services provider’s stock after selling 130,880 shares during the period. Baidu makes up 1.5% of Prudential PLC’s portfolio, making the stock its 8th largest holding. Prudential PLC owned approximately 0.74% of Baidu worth $457,050,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Aviance Capital Management LLC acquired a new position in shares of Baidu during the second quarter valued at about $124,000. Capital Research Global Investors lifted its stake in shares of Baidu by 0.3% in the second quarter. Capital Research Global Investors now owns 1,602,587 shares of the information services provider’s stock valued at $286,639,000 after buying an additional 4,531 shares during the period. Capital World Investors lifted its stake in shares of Baidu by 54.2% in the second quarter. Capital World Investors now owns 9,726,375 shares of the information services provider’s stock valued at $1,739,659,000 after buying an additional 3,419,291 shares during the period. GLG Partners LP lifted its stake in shares of Baidu by 24.8% in the second quarter. GLG Partners LP now owns 13,012 shares of the information services provider’s stock valued at $2,327,000 after buying an additional 2,583 shares during the period. Finally, L & S Advisors Inc acquired a new stake in Baidu during the second quarter worth about $1,096,000. Institutional investors and hedge funds own 64.15% of the company’s stock.
Baidu, Inc. (NASDAQ:BIDU) traded up 0.11% during mid-day trading on Tuesday, hitting $248.95. 1,117,007 shares of the stock traded hands. The company has a 50 day moving average price of $231.52 and a 200-day moving average price of $197.76. Baidu, Inc. has a one year low of $159.54 and a one year high of $250.57. The stock has a market capitalization of $86.33 billion, a PE ratio of 45.38 and a beta of 1.99.
Several equities analysts recently issued reports on the company. Zacks Investment Research upgraded Baidu from a “hold” rating to a “buy” rating and set a $265.00 price target on the stock in a research note on Wednesday, September 27th. HSBC Holdings plc reaffirmed a “buy” rating and issued a $282.00 price target (up previously from $245.00) on shares of Baidu in a report on Wednesday, September 27th. Wells Fargo & Company assumed coverage on Baidu in a research report on Tuesday, September 26th. They issued an “outperform” rating and a $290.00 price objective for the company. Vetr upgraded Baidu from a “buy” rating to a “strong-buy” rating and set a $265.83 price objective for the company in a research report on Tuesday, September 26th. Finally, Bank of America Corporation reissued a “buy” rating and set a $263.00 price objective on shares of Baidu in a report on Monday, September 18th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the company. Baidu has an average rating of “Buy” and an average target price of $223.12.
Baidu Company Profile
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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