Baidu Inc (BIDU) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lessened its holdings in Baidu Inc (NASDAQ:BIDU) by 10.6% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 483,428 shares of the information services provider’s stock after selling 57,172 shares during the period. California Public Employees Retirement System owned about 0.14% of Baidu worth $119,740,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Harding Loevner LP raised its stake in Baidu by 7,512.3% during the 3rd quarter. Harding Loevner LP now owns 299,359,034 shares of the information services provider’s stock worth $597,992,000 after acquiring an additional 295,426,466 shares during the period. Capital World Investors raised its stake in Baidu by 54.2% during the 2nd quarter. Capital World Investors now owns 9,726,375 shares of the information services provider’s stock worth $1,739,659,000 after acquiring an additional 3,419,291 shares during the period. Harris Associates L P raised its stake in Baidu by 29.7% during the 2nd quarter. Harris Associates L P now owns 9,015,196 shares of the information services provider’s stock worth $1,612,458,000 after acquiring an additional 2,066,614 shares during the period. Investec Asset Management LTD raised its stake in Baidu by 3,282.3% during the 3rd quarter. Investec Asset Management LTD now owns 1,202,148 shares of the information services provider’s stock worth $297,760,000 after acquiring an additional 1,166,606 shares during the period. Finally, Veritas Asset Management LLP raised its stake 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 worth $608,893,000 after acquiring an additional 920,687 shares during the period. Hedge funds and other institutional investors own 63.95% of the company’s stock.

BIDU has been the topic of several recent analyst reports. Vetr upgraded shares of Baidu from a “sell” rating to a “strong-buy” rating and set a $265.83 price objective on the stock in a research report on Wednesday, September 6th. Citigroup reiterated a “hold” rating and set a $253.00 price objective on shares of Baidu in a research report on Thursday, September 14th. Bank of America reiterated a “buy” rating and set a $263.00 price objective on shares of Baidu in a research report on Monday, September 18th. Wells Fargo & Co initiated coverage on shares of Baidu in a research report on Tuesday, September 26th. They set an “outperform” rating and a $290.00 price objective on the stock. Finally, reiterated a “buy” rating and set a $282.00 price objective (up previously from $245.00) on shares of Baidu in a research report on Wednesday, September 27th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $238.19.

Baidu Inc (NASDAQ:BIDU) traded up $8.19 during trading hours on Tuesday, hitting $242.40. The stock had a trading volume of 2,690,388 shares, compared to its average volume of 2,280,000. Baidu Inc has a fifty-two week low of $163.56 and a fifty-two week high of $274.97. The company has a market capitalization of $84,060.00, a P/E ratio of 34.58, a price-to-earnings-growth ratio of 1.41 and a beta of 1.89. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.71 and a current ratio of 1.71.

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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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