Banque Pictet & Cie SA Sells 3,840 Shares of Baidu, Inc. (NASDAQ:BIDU)

Banque Pictet & Cie SA decreased its position in Baidu, Inc. (NASDAQ:BIDU) by 14.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,160 shares of the information services provider’s stock after selling 3,840 shares during the quarter. Banque Pictet & Cie SA’s holdings in Baidu were worth $1,868,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of BIDU. Sycomore Asset Management bought a new position in shares of Baidu in the fourth quarter valued at approximately $51,000. Allspring Global Investments Holdings LLC raised its position in shares of Baidu by 630.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 687 shares of the information services provider’s stock valued at $72,000 after purchasing an additional 593 shares during the period. World Investment Advisors LLC bought a new position in shares of Baidu in the third quarter valued at approximately $72,000. Transamerica Financial Advisors Inc. bought a new position in shares of Baidu in the third quarter valued at approximately $82,000. Finally, Denver PWM LLC raised its position in shares of Baidu by 28.5% in the third quarter. Denver PWM LLC now owns 991 shares of the information services provider’s stock valued at $104,000 after purchasing an additional 220 shares during the period.

Baidu Stock Up 0.9 %

Shares of NASDAQ:BIDU opened at $97.48 on Friday. Baidu, Inc. has a 52 week low of $77.19 and a 52 week high of $116.25. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.19 and a current ratio of 2.19. The company’s fifty day moving average is $86.79 and its 200-day moving average is $88.66. The company has a market capitalization of $34.18 billion, a PE ratio of 11.93, a P/E/G ratio of 2.03 and a beta of 0.46.

Analyst Ratings Changes

A number of equities analysts recently issued reports on BIDU shares. Mizuho dropped their target price on shares of Baidu from $130.00 to $115.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 12th. StockNews.com raised shares of Baidu from a “hold” rating to a “buy” rating in a research report on Friday, December 27th. China Renaissance lowered shares of Baidu from a “buy” rating to a “hold” rating and set a $86.00 target price on the stock. in a research report on Monday, November 25th. Susquehanna lowered shares of Baidu from a “positive” rating to a “neutral” rating and dropped their target price for the stock from $105.00 to $85.00 in a research report on Monday, November 25th. Finally, JPMorgan Chase & Co. lowered shares of Baidu from an “overweight” rating to a “neutral” rating in a research report on Wednesday, November 27th. Ten analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $112.08.

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.