Banque Pictet & Cie SA Has $1.87 Million Stake in Baidu, Inc. (NASDAQ:BIDU)

Banque Pictet & Cie SA lowered its holdings in Baidu, Inc. (NASDAQ:BIDU - Free Report) by 14.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,160 shares of the information services provider's stock after selling 3,840 shares during the period. Banque Pictet & Cie SA's holdings in Baidu were worth $1,868,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in BIDU. Sycomore Asset Management purchased a new stake in Baidu during the fourth quarter valued at about $51,000. Allspring Global Investments Holdings LLC lifted its position 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 acquiring an additional 593 shares in the last quarter. Transamerica Financial Advisors Inc. acquired a new position in Baidu in the 3rd quarter worth approximately $82,000. Denver PWM LLC grew its position in Baidu by 28.5% during the 3rd quarter. Denver PWM LLC now owns 991 shares of the information services provider's stock worth $104,000 after purchasing an additional 220 shares in the last quarter. Finally, Banco Santander S.A. acquired a new stake in Baidu during the 3rd quarter valued at $201,000.

Baidu Stock Down 7.5 %

Shares of BIDU traded down $7.32 during trading hours on Tuesday, hitting $90.16. 15,203,449 shares of the company were exchanged, compared to its average volume of 4,970,266. The firm's 50 day moving average is $87.10 and its 200-day moving average is $88.79. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.19 and a current ratio of 2.19. Baidu, Inc. has a 52 week low of $77.19 and a 52 week high of $116.25. The company has a market cap of $31.61 billion, a PE ratio of 11.04, a PEG ratio of 2.03 and a beta of 0.46.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on BIDU shares. Susquehanna cut Baidu from a "positive" rating to a "neutral" rating and decreased their target price for the stock from $105.00 to $85.00 in a research report on Monday, November 25th. Benchmark reiterated a "buy" rating and issued a $130.00 target price on shares of Baidu in a report on Friday, January 24th. Daiwa Capital Markets restated an "outperform" rating on shares of Baidu in a report on Tuesday. StockNews.com upgraded shares of Baidu from a "hold" rating to a "buy" rating in a research note on Friday, December 27th. Finally, Mizuho cut their target price on shares of Baidu from $130.00 to $115.00 and set an "outperform" rating for the company in a research report on Tuesday, November 12th. Ten analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $112.08.

Baidu Company 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.