Apollon Wealth Management LLC Invests $315,000 in Baidu, Inc. (NASDAQ:BIDU)

Apollon Wealth Management LLC purchased a new position in shares of Baidu, Inc. (NASDAQ:BIDU) in the third quarter, HoldingsChannel reports. The institutional investor purchased 2,996 shares of the information services provider’s stock, valued at approximately $315,000.

A number of other large investors also recently modified their holdings of BIDU. Primecap Management Co. CA lifted 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 worth $1,033,238,000 after buying an additional 1,753,577 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Baidu by 12,065.6% during the third quarter. International Assets Investment Management LLC now owns 1,070,694 shares of the information services provider’s stock worth $1,127,330,000 after buying an additional 1,061,893 shares during the last quarter. Canada Pension Plan Investment Board raised 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 valued at $107,247,000 after purchasing an additional 338,110 shares in the last quarter. DekaBank Deutsche Girozentrale raised its stake 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 in the last quarter. Finally, XY Capital Ltd acquired a new position in shares of Baidu in the second quarter valued at $23,880,000.

Baidu Price Performance

Shares of BIDU stock opened at $84.58 on Monday. The stock’s fifty day moving average is $93.60 and its 200-day moving average is $93.39. 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 stock has a market capitalization of $29.66 billion, a PE ratio of 11.14 and a beta of 0.51. Baidu, Inc. has a 52 week low of $79.68 and a 52 week high of $126.23.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on BIDU shares. Loop Capital cut their target price on Baidu from $120.00 to $115.00 and set a “buy” rating for the company in a research note on Monday, August 26th. Jefferies Financial Group cut their target price on Baidu from $174.00 to $139.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Dbs Bank lowered Baidu from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 3rd. Benchmark lowered their price target on Baidu from $180.00 to $135.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Finally, Hsbc Global Res cut Baidu from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Seven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Baidu currently has an average rating of “Moderate Buy” and an average price target of $127.29.

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.