Primecap Management Co. CA Sells 9,620 Shares of Baidu, Inc. (NASDAQ:BIDU)

Primecap Management Co. CA reduced its holdings in Baidu, Inc. (NASDAQ:BIDU - Free Report) by 0.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,114,236 shares of the information services provider's stock after selling 9,620 shares during the quarter. Primecap Management Co. CA owned about 3.45% of Baidu worth $1,021,351,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in BIDU. Maple Rock Capital Partners Inc. bought a new stake in Baidu in the third quarter valued at $42,748,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Baidu during the 3rd quarter valued at about $36,272,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Baidu by 1,111.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 360,378 shares of the information services provider's stock valued at $30,317,000 after purchasing an additional 330,627 shares in the last quarter. Hhlr Advisors LTD. bought a new position in Baidu in the third quarter worth about $31,587,000. Finally, SG Americas Securities LLC lifted its holdings in Baidu by 147.5% in the fourth quarter. SG Americas Securities LLC now owns 381,456 shares of the information services provider's stock worth $32,161,000 after buying an additional 227,338 shares during the period.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Mizuho upped their target price on Baidu from $95.00 to $105.00 and gave the stock an "outperform" rating in a report on Wednesday, February 19th. Susquehanna downgraded Baidu from a "positive" rating to a "neutral" rating and decreased their price objective for the stock from $105.00 to $85.00 in a report on Monday, November 25th. Sanford C. Bernstein restated a "market perform" rating on shares of Baidu in a report on Saturday, March 8th. Nomura Securities lowered shares of Baidu from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, February 19th. Finally, China Renaissance lowered shares of Baidu from a "buy" rating to a "hold" rating and set a $86.00 price objective on the stock. in a research note on Monday, November 25th. Thirteen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $111.25.

Remove Ads

Baidu Price Performance

NASDAQ:BIDU traded up $0.27 during trading hours on Friday, hitting $94.54. 3,768,211 shares of the stock traded hands, compared to its average volume of 3,971,939. The company has a market cap of $33.15 billion, a price-to-earnings ratio of 10.31, a price-to-earnings-growth ratio of 2.96 and a beta of 0.47. Baidu, Inc. has a 1 year low of $77.20 and a 1 year high of $116.25. The stock has a 50 day moving average price of $89.71 and a 200 day moving average price of $89.78. The company has a quick ratio of 2.19, a current ratio of 2.09 and a debt-to-equity ratio of 0.19.

Baidu Company Profile

Baidu, Inc engages in the provision of internet search services in China. It operates through two segments: Baidu Core and iQIYI. The company offers Baidu App to access search, feed, and other services using mobile devices; Baidu Search to access its search and other services; Baidu Feed that provides users with personalized timeline based on their demographics and interests; Baidu Health that helps users to find the doctor and hospital for healthcare needs; and Haokan, a short video app.