Sigma Investment Counselors Inc. Sells 300 Shares of Baidu, Inc. (BIDU)
Sigma Investment Counselors Inc. cut its position in shares of Baidu, Inc. (NASDAQ:BIDU) by 15.0% during the second quarter, Holdings Channel reports. The institutional investor owned 1,700 shares of the information services provider’s stock after selling 300 shares during the period. Sigma Investment Counselors Inc.’s holdings in Baidu were worth $304,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of the stock. Grove Bank & Trust increased its stake in 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. Shine Investment Advisory Services Inc. acquired a new stake in Baidu during the second quarter worth about $112,000. Harbour Capital Advisors LLC increased its stake 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 worth $117,000 after buying an additional 20,810 shares in the last quarter. Barnett & Company Inc. increased its stake in Baidu by 10.3% in the first quarter. Barnett & Company Inc. now owns 800 shares of the information services provider’s stock worth $138,000 after buying an additional 75 shares in the last quarter. Finally, Integrated Investment Consultants LLC acquired a new stake in Baidu during the second quarter worth about $152,000. 65.25% of the stock is owned by hedge funds and other institutional investors.
Baidu, Inc. (NASDAQ:BIDU) opened at 230.30 on Thursday. The firm has a 50 day moving average of $196.29 and a 200-day moving average of $183.30. Baidu, Inc. has a 1-year low of $159.54 and a 1-year high of $233.37. The company has a market capitalization of $79.86 billion, a price-to-earnings ratio of 43.16 and a beta of 1.95.
A number of research firms have issued reports on BIDU. Macquarie raised shares of Baidu from a “neutral” rating to an “outperform” rating and boosted 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 price objective (up previously from $223.00) on shares of Baidu in a report on Tuesday, August 1st. Jefferies Group LLC boosted their price objective on shares of Baidu from $188.00 to $208.00 and gave the company a “buy” rating in a report on Monday, May 1st. Benchmark Co. began coverage on shares of Baidu in a report on Tuesday, April 18th. They issued a “buy” rating and a $190.00 price objective for the company. Finally, Instinet raised shares of Baidu from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $180.00 to $241.00 in a report on Monday, July 31st. One 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 issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target 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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