Banque Cantonale Vaudoise Boosts Stock Position in Baidu, Inc. (NASDAQ:BIDU)

Banque Cantonale Vaudoise grew its holdings in Baidu, Inc. (NASDAQ:BIDU - Free Report) by 260.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,467 shares of the information services provider's stock after buying an additional 8,285 shares during the period. Banque Cantonale Vaudoise's holdings in Baidu were worth $1,207,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Crewe Advisors LLC purchased a new position in shares of Baidu during the 1st quarter worth $31,000. iA Global Asset Management Inc. acquired a new position in Baidu in the 2nd quarter valued at about $52,000. Allspring Global Investments Holdings LLC grew its stake in shares of Baidu by 630.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 687 shares of the information services provider's stock valued at $72,000 after buying an additional 593 shares during the period. Grove Bank & Trust increased its holdings in shares of Baidu by 21.6% during the 3rd quarter. Grove Bank & Trust now owns 731 shares of the information services provider's stock worth $77,000 after buying an additional 130 shares during the last quarter. Finally, Denver PWM LLC purchased a new stake in shares of Baidu during the 2nd quarter valued at approximately $67,000.

Baidu Stock Performance

Shares of Baidu stock opened at $86.75 on Thursday. The firm's 50 day moving average is $93.81 and its two-hundred day moving average is $92.97. Baidu, Inc. has a 52 week low of $79.68 and a 52 week high of $126.23. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $30.42 billion, a P/E ratio of 11.43 and a beta of 0.51.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Bank of America cut their target price on Baidu from $128.00 to $117.00 and set a "buy" rating for the company in a research note on Friday, August 23rd. Hsbc Global Res lowered shares of Baidu from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 24th. StockNews.com cut shares of Baidu from a "buy" rating to a "hold" rating in a research report on Friday, October 25th. Sanford C. Bernstein cut shares of Baidu from an "outperform" rating to a "market perform" rating and dropped their price target for the company from $130.00 to $97.00 in a research report on Friday, August 23rd. Finally, Mizuho decreased their target price on Baidu from $130.00 to $115.00 and set an "outperform" rating on the stock in a research note on Tuesday, November 12th. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price 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.