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

Pictet Asset Management Holding SA lifted its position in shares of Baidu, Inc. (NASDAQ:BIDU) by 9.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 2,410,307 shares of the information services provider’s stock after acquiring an additional 207,966 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Baidu were worth $203,213,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Rialto Wealth Management LLC bought a new position in Baidu during the fourth quarter worth about $42,000. Sycomore Asset Management purchased a new stake in shares of Baidu during the 4th quarter valued at approximately $51,000. World Investment Advisors LLC bought a new position in Baidu in the 3rd quarter worth approximately $72,000. Denver PWM LLC grew its stake in Baidu by 28.5% in the 3rd quarter. Denver PWM LLC now owns 991 shares of the information services provider’s stock valued at $104,000 after buying an additional 220 shares in the last quarter. Finally, Quantinno Capital Management LP bought a new stake in Baidu during the 3rd quarter valued at $201,000.

Baidu Stock Down 5.1 %

Shares of NASDAQ:BIDU opened at $93.37 on Friday. The stock has a market capitalization of $32.74 billion, a P/E ratio of 10.18, a price-to-earnings-growth ratio of 2.96 and a beta of 0.47. The stock’s 50-day moving average price is $91.61 and its 200-day moving average price is $90.33. The company has a current ratio of 2.09, a quick ratio of 2.19 and a debt-to-equity ratio of 0.19. Baidu, Inc. has a 12-month low of $77.20 and a 12-month high of $116.25.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Barclays raised their price target on Baidu from $83.00 to $95.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 11th. StockNews.com lowered Baidu from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Citigroup lowered their price target 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. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Baidu in a research note on Saturday, March 8th. Finally, Mizuho increased their target price on shares of Baidu from $95.00 to $105.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Thirteen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $111.25.

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.