Baidu, Inc. (NASDAQ:BIDU) Shares Acquired by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC raised its position in shares of Baidu, Inc. (NASDAQ:BIDU) by 17.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,037 shares of the information services provider’s stock after acquiring an additional 750 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Baidu were worth $530,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in BIDU. Primecap Management Co. CA raised its holdings in shares of Baidu by 17.2% during the second quarter. Primecap Management Co. CA now owns 11,947,706 shares of the information services provider’s stock valued at $1,033,238,000 after acquiring an additional 1,753,577 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of Baidu by 12,065.6% in the third 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 purchasing an additional 1,061,893 shares during the last quarter. Canada Pension Plan Investment Board increased its holdings 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 valued at $107,247,000 after purchasing an additional 338,110 shares during the last quarter. DekaBank Deutsche Girozentrale increased its holdings in shares of Baidu by 103.1% in the second quarter. DekaBank Deutsche Girozentrale now owns 582,475 shares of the information services provider’s stock valued at $51,192,000 after purchasing an additional 295,700 shares during the last quarter. Finally, XY Capital Ltd purchased a new position in Baidu in the second quarter worth approximately $23,880,000.

Wall Street Analyst Weigh In

Several research firms have recently commented on BIDU. Susquehanna lowered their price target on Baidu from $135.00 to $105.00 and set a “positive” rating for the company in a research report on Thursday, September 5th. Jefferies Financial Group cut their price target on Baidu from $174.00 to $139.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Hsbc Global Res cut Baidu from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 24th. StockNews.com cut Baidu from a “buy” rating to a “hold” rating in a research report on Friday, October 25th. Finally, Benchmark cut their target price on Baidu from $180.00 to $135.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $127.29.

Baidu Stock Performance

NASDAQ:BIDU opened at $84.46 on Thursday. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.32 and a quick ratio of 2.32. The firm has a 50-day moving average of $93.47 and a two-hundred day moving average of $93.82. The stock has a market cap of $29.62 billion, a P/E ratio of 11.13 and a beta of 0.51. Baidu, Inc. has a 1-year low of $79.68 and a 1-year high of $126.23.

About Baidu

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.