DekaBank Deutsche Girozentrale grew its stake in shares of Baidu, Inc. (NASDAQ:BIDU) by 2.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 146,868 shares of the information services provider’s stock after acquiring an additional 3,316 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Baidu were worth $29,052,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in BIDU. Cypress Capital Management LLC WY purchased a new position in shares of Baidu in the fourth quarter worth approximately $32,000. TD Ameritrade Investment Management LLC bought a new stake in Baidu in the fourth quarter worth approximately $35,000. RMR Wealth Builders bought a new stake in Baidu in the fourth quarter worth approximately $36,000. Catalyst Capital Advisors LLC bought a new stake in Baidu in the fourth quarter worth approximately $42,000. Finally, Huntington National Bank grew its position in Baidu by 207.4% in the fourth quarter. Huntington National Bank now owns 209 shares of the information services provider’s stock worth $45,000 after acquiring an additional 141 shares in the last quarter. Institutional investors own 49.38% of the company’s stock.
A number of analysts have recently weighed in on BIDU shares. Zacks Investment Research cut shares of Baidu from a “hold” rating to a “sell” rating in a research note on Tuesday. JPMorgan Chase & Co. boosted their price objective on shares of Baidu from $155.00 to $290.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 13th. Mizuho boosted their price objective on shares of Baidu from $325.00 to $350.00 and gave the stock a “buy” rating in a research note on Thursday, February 25th. The Goldman Sachs Group boosted their price objective on shares of Baidu from $383.00 to $385.00 in a research note on Tuesday, March 23rd. Finally, Loop Capital upgraded shares of Baidu from a “hold” rating to a “buy” rating in a research note on Monday, March 29th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and fourteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $267.56.
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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