Baidu, Inc. (NASDAQ:BIDU) Shares Sold by Vontobel Holding Ltd.

Vontobel Holding Ltd. decreased its position in shares of Baidu, Inc. (NASDAQ:BIDU - Free Report) by 62.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 43,800 shares of the information services provider's stock after selling 71,932 shares during the quarter. Vontobel Holding Ltd.'s holdings in Baidu were worth $4,612,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Guinness Asset Management LTD lifted its position in shares of Baidu by 4.4% in the 2nd quarter. Guinness Asset Management LTD now owns 2,360 shares of the information services provider's stock worth $204,000 after purchasing an additional 100 shares during the period. Grove Bank & Trust grew its stake in Baidu by 21.6% in the third quarter. Grove Bank & Trust now owns 731 shares of the information services provider's stock valued at $77,000 after purchasing an additional 130 shares during the last quarter. Ignite Planners LLC raised its holdings in Baidu by 3.8% in the first quarter. Ignite Planners LLC now owns 3,791 shares of the information services provider's stock worth $411,000 after purchasing an additional 139 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Baidu by 9.0% during the second quarter. Blue Trust Inc. now owns 2,078 shares of the information services provider's stock valued at $180,000 after buying an additional 171 shares during the last quarter. Finally, Advisors Asset Management Inc. boosted its holdings in shares of Baidu by 8.2% in the 1st quarter. Advisors Asset Management Inc. now owns 2,583 shares of the information services provider's stock valued at $272,000 after buying an additional 196 shares in the last quarter.

Baidu Price Performance

BIDU stock traded up $2.28 during trading on Friday, hitting $94.39. The stock had a trading volume of 4,042,073 shares, compared to its average volume of 3,670,763. The stock has a market capitalization of $33.10 billion, a P/E ratio of 12.64 and a beta of 0.49. The company's 50-day moving average price is $91.83 and its two-hundred day moving average price is $95.09. Baidu, Inc. has a twelve month low of $79.68 and a twelve month high of $126.23. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.32 and a quick ratio of 2.32.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Sanford C. Bernstein downgraded shares of Baidu from an "outperform" rating to a "market perform" rating and lowered their target price for the company from $130.00 to $97.00 in a research note on Friday, August 23rd. Benchmark reduced their target price on Baidu from $180.00 to $135.00 and set a "buy" rating on the stock in a research report on Wednesday, July 31st. Dbs Bank downgraded Baidu from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 3rd. Hsbc Global Res downgraded shares of Baidu from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 24th. Finally, Citigroup dropped their price objective on shares of Baidu from $170.00 to $155.00 and set a "buy" rating on the stock in a report on Monday, July 15th. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $132.13.

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.