Burney Co. Decreases Stake in Baidu, Inc. (NASDAQ:BIDU)

Burney Co. cut its stake in shares of Baidu, Inc. (NASDAQ:BIDU) by 17.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,308 shares of the information services provider’s stock after selling 3,588 shares during the quarter. Burney Co.’s holdings in Baidu were worth $3,109,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in BIDU. Grove Bank & Trust grew its holdings in shares of Baidu by 74.2% during the 2nd quarter. Grove Bank & Trust now owns 594 shares of the information services provider’s stock valued at $106,000 after purchasing an additional 253 shares during the last quarter. Shine Investment Advisory Services Inc. bought a new stake in shares of Baidu during the 2nd quarter valued at approximately $112,000. Harbour Capital Advisors LLC grew its holdings in shares of Baidu by 17,786.3% during the 2nd quarter. Harbour Capital Advisors LLC now owns 20,927 shares of the information services provider’s stock valued at $117,000 after purchasing an additional 20,810 shares during the last quarter. Barnett & Company Inc. grew its holdings in shares of Baidu by 10.3% during the 1st quarter. Barnett & Company Inc. now owns 800 shares of the information services provider’s stock valued at $138,000 after purchasing an additional 75 shares during the last quarter. Finally, Highstreet Asset Management Inc. bought a new stake in shares of Baidu during the 2nd quarter valued at approximately $146,000. 64.15% of the stock is currently owned by institutional investors.

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A number of research firms have weighed in on BIDU. Credit Suisse Group reissued an “outperform” rating on shares of Baidu in a report on Thursday, August 31st. BidaskClub raised shares of Baidu from a “sell” rating to a “hold” rating in a report on Thursday, June 22nd. Citigroup Inc. reissued a “hold” rating and set a $253.00 target price on shares of Baidu in a report on Thursday. Vetr lowered shares of Baidu from a “strong-buy” rating to a “buy” rating and set a $265.83 target price on the stock. in a report on Wednesday. Finally, Macquarie reissued a “top pick” rating on shares of Baidu in a report on Monday, August 28th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $213.36.

Shares of Baidu, Inc. (BIDU) opened at 235.21 on Friday. Baidu, Inc. has a 1-year low of $159.54 and a 1-year high of $239.16. The company has a market cap of $81.56 billion, a price-to-earnings ratio of 43.37 and a beta of 1.98. The stock has a 50 day moving average of $226.89 and a 200 day moving average of $192.20.

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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