Cape Investment Advisory Inc. Buys 1,323 Shares of Baidu, Inc. (NASDAQ:BIDU)

Cape Investment Advisory Inc. increased its stake in shares of Baidu, Inc. (NASDAQ:BIDU) by 16,537.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,331 shares of the information services provider’s stock after acquiring an additional 1,323 shares during the quarter. Cape Investment Advisory Inc.’s holdings in Baidu were worth $140,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Crewe Advisors LLC bought a new stake in shares of Baidu in the first quarter worth about $31,000. Newbridge Financial Services Group Inc. bought a new stake in shares of Baidu in the 1st quarter worth approximately $32,000. Pacific Capital Wealth Advisors Inc. purchased a new position in shares of Baidu during the fourth quarter valued at approximately $48,000. Silicon Valley Capital Partners bought a new position in shares of Baidu during the first quarter valued at approximately $53,000. Finally, Accent Capital Management LLC purchased a new stake in Baidu in the fourth quarter worth $66,000.

Baidu Stock Down 2.2 %

Shares of NASDAQ:BIDU traded down $1.93 during trading on Friday, reaching $84.49. 3,226,305 shares of the stock traded hands, compared to its average volume of 4,829,994. The stock has a market cap of $29.63 billion, a P/E ratio of 11.31 and a beta of 0.49. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.79 and a current ratio of 2.79. The stock has a 50-day moving average of $92.10 and a two-hundred day moving average of $100.34. Baidu, Inc. has a 52-week low of $82.91 and a 52-week high of $151.55.

Wall Street Analyst Weigh In

Several brokerages have commented on BIDU. StockNews.com lowered shares of Baidu from a “buy” rating to a “hold” rating in a report on Tuesday, July 16th. Susquehanna lowered their price objective on shares of Baidu from $150.00 to $135.00 and set a “positive” rating for the company in a report on Friday, May 24th. Bank of America reduced their target price on Baidu from $140.00 to $128.00 and set a “buy” rating on the stock in a report on Tuesday, July 16th. Jefferies Financial Group lowered their target price on Baidu from $179.00 to $174.00 and set a “buy” rating for the company in a research note on Monday, July 15th. Finally, Morgan Stanley downgraded Baidu from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $140.00 to $125.00 in a report on Friday, May 17th. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $146.60.

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.