Polen Capital Management LLC bought a new position in Baidu, Inc. (NASDAQ:BIDU) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,076 shares of the information services provider’s stock, valued at approximately $371,000. Baidu comprises 0.0% of Polen Capital Management LLC’s portfolio, making the stock its 29th biggest holding.
Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. raised its holdings in Baidu by 4,625.7% in the 1st quarter. BlackRock Inc. now owns 11,974,528 shares of the information services provider’s stock valued at $2,065,846,000 after buying an additional 11,721,135 shares during the last quarter. Cambiar Investors LLC bought a new position in Baidu in the 2nd quarter valued at approximately $274,670,000. Veritas Asset Management LLP increased its position in Baidu by 37.1% during the 2nd quarter. Veritas Asset Management LLP now owns 3,404,298 shares of the information services provider’s stock valued at $608,893,000 after purchasing an additional 920,687 shares during the period. Artisan Partners Limited Partnership increased its position in Baidu by 8.9% during the 1st quarter. Artisan Partners Limited Partnership now owns 7,639,967 shares of the information services provider’s stock valued at $1,318,047,000 after purchasing an additional 621,382 shares during the period. Finally, Causeway Capital Management LLC increased its position in Baidu by 20.4% during the 1st quarter. Causeway Capital Management LLC now owns 3,604,537 shares of the information services provider’s stock valued at $621,855,000 after purchasing an additional 611,124 shares during the period. 64.15% of the stock is owned by hedge funds and other institutional investors.
Shares of Baidu, Inc. (BIDU) traded up 0.209% on Friday, hitting $237.825. The stock had a trading volume of 1,381,422 shares. Baidu, Inc. has a 52 week low of $159.54 and a 52 week high of $238.08. The firm has a 50-day moving average price of $225.91 and a 200-day moving average price of $191.76. The stock has a market capitalization of $82.47 billion, a P/E ratio of 43.855 and a beta of 1.98.
BIDU has been the subject of several recent analyst reports. Citigroup Inc. reaffirmed a “hold” rating and set a $253.00 price objective on shares of Baidu in a research report on Thursday. Vetr downgraded shares of Baidu from a “strong-buy” rating to a “buy” rating and set a $265.83 price objective for the company. in a research report on Wednesday. Instinet raised shares of Baidu from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $180.00 to $241.00 in a research report on Monday, July 31st. HSBC Holdings plc reiterated a “buy” rating and issued a $245.00 target price (up from $223.00) on shares of Baidu in a report on Tuesday, August 1st. Finally, TheStreet upgraded Baidu from a “c+” rating to a “b” rating 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 given a buy rating and two have given a strong buy rating to the stock. Baidu presently has an average rating of “Buy” and an average price target of $213.36.
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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