Primecap Management Co. CA boosted its stake in shares of Baidu, Inc. (NASDAQ:BIDU - Free Report) by 1.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,123,856 shares of the information services provider's stock after purchasing an additional 176,150 shares during the quarter. Primecap Management Co. CA owned 3.46% of Baidu worth $1,276,521,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of the stock. International Assets Investment Management LLC raised its stake in shares of Baidu by 12,065.6% in the 3rd quarter. International Assets Investment Management LLC now owns 1,070,694 shares of the information services provider's stock valued at $1,127,330,000 after buying an additional 1,061,893 shares in the last quarter. Canada Pension Plan Investment Board grew its holdings in shares of Baidu by 49.7% in the 1st quarter. Canada Pension Plan Investment Board now owns 1,018,685 shares of the information services provider's stock worth $107,247,000 after purchasing an additional 338,110 shares during the last quarter. DekaBank Deutsche Girozentrale grew its holdings in shares of Baidu by 103.1% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 582,475 shares of the information services provider's stock worth $51,192,000 after purchasing an additional 295,700 shares during the last quarter. XY Capital Ltd bought a new stake in shares of Baidu in the 2nd quarter worth about $23,880,000. Finally, Shah Capital Management bought a new stake in shares of Baidu in the 2nd quarter worth about $14,269,000.
Analysts Set New Price Targets
BIDU has been the topic of a number of research analyst reports. Loop Capital decreased their price objective on shares of Baidu from $120.00 to $115.00 and set a "buy" rating on the stock in a report on Monday, August 26th. Dbs Bank lowered shares of Baidu from a "strong-buy" rating to a "hold" rating in a research note on Thursday, October 3rd. StockNews.com lowered shares of Baidu from a "buy" rating to a "hold" rating in a research note on Friday, October 25th. Hsbc Global Res downgraded shares of Baidu from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 24th. Finally, Sanford C. Bernstein downgraded shares of Baidu from an "outperform" rating to a "market perform" rating and cut their price target for the company from $130.00 to $97.00 in a research report on Friday, August 23rd. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $127.29.
Check Out Our Latest Stock Analysis on BIDU
Baidu Price Performance
Shares of BIDU opened at $86.75 on Thursday. The stock has a market capitalization of $30.42 billion, a P/E ratio of 11.43 and a beta of 0.51. Baidu, Inc. has a twelve month low of $79.68 and a twelve month high of $126.23. The company has a 50 day moving average of $93.81 and a 200-day moving average of $92.97. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 0.19.
Baidu Profile
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Free Report)
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.
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