Baidu, Inc. (NASDAQ:BIDU) Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA lowered its stake in shares of Baidu, Inc. (NASDAQ:BIDU) by 0.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 approximately 3.45% of Baidu worth $1,021,351,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Sanders Capital LLC boosted its position in Baidu by 0.7% during the 3rd quarter. Sanders Capital LLC now owns 2,605,728 shares of the information services provider’s stock valued at $274,357,000 after purchasing an additional 18,334 shares during the period. Appaloosa LP boosted its position in Baidu by 7.2% during the 4th quarter. Appaloosa LP now owns 1,527,909 shares of the information services provider’s stock valued at $128,818,000 after purchasing an additional 102,909 shares during the period. CoreView Capital Management Ltd boosted its position in Baidu by 15.6% during the 3rd quarter. CoreView Capital Management Ltd now owns 1,236,783 shares of the information services provider’s stock valued at $130,221,000 after purchasing an additional 166,618 shares during the period. North of South Capital LLP boosted its position in Baidu by 18.9% during the 4th quarter. North of South Capital LLP now owns 614,847 shares of the information services provider’s stock worth $51,838,000 after acquiring an additional 97,549 shares during the period. Finally, Maple Rock Capital Partners Inc. acquired a new position in Baidu during the 3rd quarter worth $42,748,000.

Analyst Ratings Changes

BIDU has been the subject of a number of analyst reports. Citigroup reduced their price target on Baidu from $142.00 to $141.00 and set a “buy” rating for the company in a research report on Friday, November 29th. JPMorgan Chase & Co. lowered Baidu from an “overweight” rating to a “neutral” rating in a research report on Wednesday, November 27th. China Renaissance lowered Baidu from a “buy” rating to a “hold” rating and set a $86.00 price target for the company. in a research report on Monday, November 25th. Mizuho boosted their price target on Baidu from $95.00 to $105.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Finally, Nomura Securities lowered Baidu from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Thirteen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $111.25.

Baidu Stock Up 9.0 %

Shares of Baidu stock opened at $102.27 on Tuesday. The stock’s fifty day moving average is $88.72 and its 200-day moving average is $89.57. The firm has a market capitalization of $35.86 billion, a PE ratio of 11.15, a price-to-earnings-growth ratio of 2.96 and a beta of 0.47. 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, Inc. has a 12-month low of $77.20 and a 12-month high of $116.25.

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.