Bellevue Group AG Acquires New Shares in Baidu, Inc. (NASDAQ:BIDU)

Bellevue Group AG acquired a new position in shares of Baidu, Inc. (NASDAQ:BIDU) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,000 shares of the information services provider’s stock, valued at approximately $211,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its holdings in Baidu by 9.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,017,341 shares of the information services provider’s stock valued at $107,107,000 after buying an additional 84,776 shares during the last quarter. Canada Pension Plan Investment Board grew its stake in shares of Baidu by 49.7% in the first 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. Advisors Asset Management Inc. increased its holdings in Baidu by 8.2% in the first quarter. Advisors Asset Management Inc. now owns 2,583 shares of the information services provider’s stock valued at $272,000 after purchasing an additional 196 shares during the period. Axxcess Wealth Management LLC lifted its holdings in Baidu by 28.9% during the 1st quarter. Axxcess Wealth Management LLC now owns 4,287 shares of the information services provider’s stock worth $451,000 after buying an additional 962 shares during the period. Finally, CM Management LLC bought a new stake in shares of Baidu in the 1st quarter valued at about $1,579,000.

Analyst Ratings Changes

A number of equities analysts recently commented on BIDU shares. Jefferies Financial Group reduced their target price on Baidu from $179.00 to $174.00 and set a “buy” rating on the stock in a report on Monday, July 15th. Macquarie lowered shares of Baidu from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 17th. Loop Capital decreased their price objective on shares of Baidu from $155.00 to $130.00 and set a “buy” rating for the company in a research report on Friday, June 21st. Mizuho dropped their target price on shares of Baidu from $140.00 to $130.00 and set a “buy” rating on the stock in a report on Friday, May 10th. Finally, Bank of America decreased their price target on Baidu from $140.00 to $128.00 and set a “buy” rating for the company in a report on Tuesday, July 16th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $149.60.

Baidu Stock Up 1.3 %

Baidu stock traded up $1.13 during trading on Monday, hitting $90.11. 1,569,871 shares of the company were exchanged, compared to its average volume of 3,525,220. The company has a current ratio of 2.79, a quick ratio of 2.79 and a debt-to-equity ratio of 0.25. The business’s 50 day moving average is $93.69 and its 200 day moving average is $101.05. Baidu, Inc. has a 52 week low of $85.08 and a 52 week high of $156.98. The company has a market capitalization of $31.60 billion, a P/E ratio of 11.91 and a beta of 0.49.

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.