Pictet Asset Management Holding SA Acquires 207,966 Shares of Baidu, Inc. (NASDAQ:BIDU)

Pictet Asset Management Holding SA boosted its holdings in Baidu, Inc. (NASDAQ:BIDU) by 9.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,410,307 shares of the information services provider’s stock after purchasing an additional 207,966 shares during the quarter. Pictet Asset Management Holding SA owned about 0.69% of Baidu worth $203,213,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. boosted its position in shares of Baidu by 5.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 2,818 shares of the information services provider’s stock worth $297,000 after purchasing an additional 140 shares in the last quarter. Denver PWM LLC raised its stake 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 buying an additional 220 shares during the period. Intellectus Partners LLC boosted its holdings in Baidu by 1.4% in the fourth quarter. Intellectus Partners LLC now owns 16,773 shares of the information services provider’s stock worth $1,414,000 after acquiring an additional 235 shares in the last quarter. US Bancorp DE grew its stake in Baidu by 7.2% in the fourth quarter. US Bancorp DE now owns 4,036 shares of the information services provider’s stock valued at $340,000 after acquiring an additional 270 shares during the period. Finally, Ignite Planners LLC grew its stake in Baidu by 7.3% in the fourth quarter. Ignite Planners LLC now owns 5,549 shares of the information services provider’s stock valued at $466,000 after acquiring an additional 376 shares during the period.

Analyst Ratings Changes

A number of equities analysts recently issued reports on BIDU shares. Daiwa Capital Markets reiterated an “outperform” rating on shares of Baidu in a report on Tuesday, February 18th. Barclays lifted their price objective on shares of Baidu from $83.00 to $95.00 and gave the company an “equal weight” rating in a report on Tuesday, February 11th. Citigroup lowered their target price on shares of Baidu from $142.00 to $141.00 and set a “buy” rating on the stock in a report on Friday, November 29th. Nomura Securities downgraded Baidu from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Finally, Benchmark reissued a “buy” rating and set a $130.00 price objective on shares of Baidu in a report on Wednesday, February 19th. Thirteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $111.25.

Baidu Trading Down 5.1 %

NASDAQ BIDU opened at $93.37 on Friday. The business’s fifty day moving average is $91.61 and its 200-day moving average is $90.33. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.09 and a quick ratio of 2.19. The stock has a market capitalization of $32.74 billion, a price-to-earnings ratio of 10.18, a PEG ratio of 2.96 and a beta of 0.47. Baidu, Inc. has a one year low of $77.20 and a one year high of $116.25.

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.