Sigma Investment Counselors Inc. boosted its stake in shares of Baidu, Inc. (NASDAQ:BIDU) by 17.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,000 shares of the information services provider’s stock after purchasing an additional 300 shares during the period. Sigma Investment Counselors Inc.’s holdings in Baidu were worth $495,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Grove Bank & Trust raised its stake in Baidu by 74.2% during the second quarter. Grove Bank & Trust now owns 594 shares of the information services provider’s stock worth $106,000 after purchasing an additional 253 shares during the period. Shine Investment Advisory Services Inc. purchased a new position in Baidu during the second quarter worth approximately $112,000. Aviance Capital Management LLC purchased a new position in Baidu during the second quarter worth approximately $124,000. Highstreet Asset Management Inc. purchased a new position in Baidu during the second quarter worth approximately $146,000. Finally, Ballentine Partners LLC purchased a new position in Baidu during the third quarter worth approximately $212,000. 64.64% of the stock is currently owned by institutional investors.
A number of equities analysts have recently commented on BIDU shares. OTR Global raised shares of Baidu to a “positive” rating in a research note on Wednesday, October 25th. Barclays PLC set a $250.00 target price on shares of Baidu and gave the company a “hold” rating in a research note on Thursday, October 19th. Vetr raised shares of Baidu from a “sell” rating to a “strong-buy” rating and set a $265.83 target price on the stock in a research note on Wednesday, September 6th. Jefferies Group LLC raised their target price on shares of Baidu from $232.00 to $305.00 and gave the company a “buy” rating in a research note on Friday, October 20th. Finally, Deutsche Bank AG reissued a “hold” rating and issued a $201.00 target price (up previously from $186.00) on shares of Baidu in a research note on Wednesday, July 26th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $234.70.
Baidu, Inc. (NASDAQ:BIDU) traded down $0.03 during midday trading on Tuesday, hitting $237.37. 1,712,800 shares of the stock traded hands, compared to its average volume of 2,587,511. Baidu, Inc. has a 1-year low of $160.61 and a 1-year high of $274.97. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.71 and a quick ratio of 1.71. The firm has a market cap of $81,290.00, a price-to-earnings ratio of 30.05, a PEG ratio of 1.41 and a beta of 1.94.
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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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