Norway Savings Bank cut its holdings in shares of Baidu Inc (NASDAQ:BIDU) by 37.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 170 shares of the information services provider’s stock after selling 100 shares during the period. Norway Savings Bank’s holdings in Baidu were worth $28,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of BIDU. Narwhal Capital Management lifted its position in Baidu by 21.1% in the first quarter. Narwhal Capital Management now owns 6,600 shares of the information services provider’s stock worth $1,088,000 after purchasing an additional 1,150 shares during the period. CAPROCK Group Inc. lifted its position in Baidu by 63.3% in the first quarter. CAPROCK Group Inc. now owns 2,192 shares of the information services provider’s stock worth $362,000 after purchasing an additional 850 shares during the period. Mercer Global Advisors Inc. ADV acquired a new stake in Baidu in the first quarter worth approximately $1,818,000. Valeo Financial Advisors LLC lifted its position in Baidu by 16.4% in the first quarter. Valeo Financial Advisors LLC now owns 7,418 shares of the information services provider’s stock worth $1,223,000 after purchasing an additional 1,046 shares during the period. Finally, Bach Investment Advisors Ltd lifted its position in Baidu by 649.7% in the first quarter. Bach Investment Advisors Ltd now owns 3,205 shares of the information services provider’s stock worth $528,000 after purchasing an additional 3,788 shares during the period. Institutional investors and hedge funds own 62.62% of the company’s stock.
A number of equities research analysts have recently commented on BIDU shares. Daiwa Capital Markets set a $215.00 price objective on Baidu and gave the company a “buy” rating in a research report on Friday, March 8th. Zacks Investment Research upgraded Baidu from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 26th. Morgan Stanley downgraded Baidu from an “overweight” rating to an “equal weight” rating and set a $188.00 price objective for the company. in a research report on Tuesday, January 8th. KeyCorp set a $236.00 target price on shares of Baidu and gave the company a “positive” rating in a research note on Wednesday, January 23rd. Finally, BidaskClub raised shares of Baidu from a “strong sell” rating to a “sell” rating in a research note on Thursday, April 4th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Baidu currently has a consensus rating of “Buy” and an average target price of $237.79.
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Baidu, Inc provides Internet search services in China and internationally. It operates through two segments, Baidu Core and iQIYI. The Baidu Core segment offers products for uses, including Baidu App to access search, feed, and other services using mobile devices; Baidu Search to access its search and other services through its other properties and Union partners; Baidu Feed that provides users with personalized timeline based on their demographics and interests; Haokan, a short video app; and Quanmin, a flash video app for users to create and share short videos.
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