Primecap Management Co. CA Buys 1,753,577 Shares of Baidu, Inc. (NASDAQ:BIDU)

Primecap Management Co. CA raised its stake in shares of Baidu, Inc. (NASDAQ:BIDU) by 17.2% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 11,947,706 shares of the information services provider’s stock after purchasing an additional 1,753,577 shares during the period. Primecap Management Co. CA’s holdings in Baidu were worth $1,033,238,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Crewe Advisors LLC bought a new stake in Baidu during the first quarter valued at about $31,000. Newbridge Financial Services Group Inc. bought a new stake in Baidu during the first quarter valued at about $32,000. iA Global Asset Management Inc. bought a new stake in Baidu during the second quarter valued at about $52,000. Silicon Valley Capital Partners bought a new stake in Baidu during the first quarter valued at about $53,000. Finally, Accent Capital Management LLC bought a new stake in Baidu during the fourth quarter valued at about $66,000.

Baidu Price Performance

Shares of Baidu stock opened at $84.08 on Tuesday. Baidu, Inc. has a 12 month low of $79.68 and a 12 month high of $136.53. The company has a current ratio of 2.32, a quick ratio of 2.32 and a debt-to-equity ratio of 0.19. The stock has a 50 day moving average of $87.27 and a 200 day moving average of $95.62. The firm has a market cap of $29.48 billion, a PE ratio of 11.26 and a beta of 0.48.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on BIDU. Susquehanna dropped their price objective on Baidu from $135.00 to $105.00 and set a “positive” rating for the company in a research note on Thursday, September 5th. StockNews.com lowered Baidu from a “buy” rating to a “hold” rating in a research note on Tuesday, July 16th. Barclays dropped their price objective on Baidu from $125.00 to $115.00 and set an “overweight” rating for the company in a research note on Friday, August 23rd. Jefferies Financial Group dropped their price objective on Baidu from $174.00 to $139.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Finally, Benchmark dropped their price objective on Baidu from $180.00 to $135.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Baidu currently has an average rating of “Moderate Buy” and a consensus target price of $135.13.

Baidu 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.