AGF Investments Inc. Cuts Holdings in Baidu, Inc. (BIDU)

AGF Investments Inc. lessened its holdings in shares of Baidu, Inc. (NASDAQ:BIDU) by 13.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,420 shares of the information services provider’s stock after selling 2,033 shares during the period. AGF Investments Inc.’s holdings in Baidu were worth $2,402,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in BIDU. BlackRock Inc. grew its position in shares of Baidu by 4,625.7% during 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 stake in shares of Baidu during the 2nd quarter valued at about $274,670,000. Veritas Asset Management LLP grew its position in shares of 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 buying an additional 920,687 shares during the last quarter. Artisan Partners Limited Partnership grew its position in shares of 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 buying an additional 621,382 shares during the last quarter. Finally, Causeway Capital Management LLC grew its position in shares of 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 buying an additional 611,124 shares during the last quarter. 64.15% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts recently weighed in on the stock. 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. Citigroup Inc. reaffirmed a “hold” rating and set a $253.00 price objective on shares of Baidu in a research report on Thursday. 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 research report on Monday, July 31st. HSBC Holdings plc reaffirmed a “buy” rating and set a $245.00 price objective (up previously from $223.00) on shares of Baidu in a research report on Tuesday, August 1st. Finally, TheStreet raised shares of Baidu from a “c+” rating to a “b” rating in a research report on Monday, July 31st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $213.36.

Baidu, Inc. (NASDAQ:BIDU) traded down 0.89% during mid-day trading on Friday, reaching $235.21. 5,230,285 shares of the company traded hands. Baidu, Inc. has a one year low of $159.54 and a one year high of $239.16. The firm has a market cap of $81.56 billion, a PE ratio of 43.37 and a beta of 1.98. The stock’s 50-day moving average price is $226.89 and its 200-day moving average price is $192.20.

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About Baidu

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.

Institutional Ownership by Quarter for Baidu (NASDAQ:BIDU)

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