XY Capital Ltd Buys Shares of 276,133 Baidu, Inc. (NASDAQ:BIDU)

XY Capital Ltd purchased a new position in shares of Baidu, Inc. (NASDAQ:BIDU) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 276,133 shares of the information services provider’s stock, valued at approximately $23,880,000. Baidu makes up approximately 15.1% of XY Capital Ltd’s investment portfolio, making the stock its biggest position. XY Capital Ltd owned about 0.08% of Baidu as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Crossmark Global Holdings Inc. raised its stake in Baidu by 0.3% in the fourth quarter. Crossmark Global Holdings Inc. now owns 29,375 shares of the information services provider’s stock valued at $3,498,000 after buying an additional 99 shares in the last quarter. Guinness Asset Management LTD raised its position in shares of Baidu by 4.4% during the 2nd quarter. Guinness Asset Management LTD now owns 2,360 shares of the information services provider’s stock worth $204,000 after acquiring an additional 100 shares in the last quarter. Kingsview Wealth Management LLC lifted its stake in Baidu by 5.8% during the fourth quarter. Kingsview Wealth Management LLC now owns 2,005 shares of the information services provider’s stock worth $239,000 after purchasing an additional 110 shares during the last quarter. Beacon Financial Group boosted its holdings in Baidu by 7.2% in the fourth quarter. Beacon Financial Group now owns 1,894 shares of the information services provider’s stock valued at $226,000 after purchasing an additional 128 shares in the last quarter. Finally, Ignite Planners LLC increased its stake in Baidu by 3.8% in the first quarter. Ignite Planners LLC now owns 3,791 shares of the information services provider’s stock valued at $411,000 after purchasing an additional 139 shares during the last quarter.

Baidu Stock Up 0.5 %

BIDU stock opened at $82.81 on Friday. Baidu, Inc. has a one year low of $79.68 and a one year high of $144.63. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.32 and a current ratio of 2.32. The company has a fifty day moving average of $88.00 and a 200-day moving average of $97.00. The stock has a market capitalization of $29.04 billion, a PE ratio of 11.09 and a beta of 0.48.

Analyst Ratings Changes

Several brokerages have recently weighed in on BIDU. Sanford C. Bernstein downgraded shares of Baidu from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $130.00 to $97.00 in a research report on Friday, August 23rd. Barclays dropped their price objective on Baidu from $125.00 to $115.00 and set an “overweight” rating on the stock in a report on Friday, August 23rd. Macquarie downgraded Baidu from a “strong-buy” rating to a “hold” rating in a report on Friday, May 17th. Jefferies Financial Group dropped 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. Finally, Susquehanna reduced 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. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, Baidu presently has an average rating of “Moderate Buy” and a consensus price target 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.