Banque Pictet & Cie SA Increases Holdings in Baidu, Inc. (BIDU)

Banque Pictet & Cie SA raised its holdings in shares of Baidu, Inc. (NASDAQ:BIDU) by 211.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 99,327 shares of the information services provider’s stock after purchasing an additional 67,394 shares during the quarter. Banque Pictet & Cie SA’s holdings in Baidu were worth $24,602,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Principal Financial Group Inc. lifted its holdings in Baidu by 0.4% during the 1st quarter. Principal Financial Group Inc. now owns 1,346 shares of the information services provider’s stock valued at $232,000 after purchasing an additional 6 shares during the last quarter. Cambridge Advisors Inc. grew its position in Baidu by 0.6% in the second quarter. Cambridge Advisors Inc. now owns 1,583 shares of the information services provider’s stock valued at $283,000 after acquiring an additional 10 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its position in Baidu by 1.9% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,478 shares of the information services provider’s stock valued at $264,000 after acquiring an additional 28 shares during the last quarter. HL Financial Services LLC grew its position in Baidu by 0.8% in the second quarter. HL Financial Services LLC now owns 3,726 shares of the information services provider’s stock valued at $666,000 after acquiring an additional 31 shares during the last quarter. Finally, Mosaic Family Wealth LLC grew its position in Baidu by 2.7% in the second quarter. Mosaic Family Wealth LLC now owns 1,237 shares of the information services provider’s stock valued at $221,000 after acquiring an additional 33 shares during the last quarter. 64.64% of the stock is owned by institutional investors and hedge funds.

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Several analysts have recently weighed in on the company. Credit Suisse Group restated an “outperform” rating on shares of Baidu in a report on Thursday, August 31st. Jefferies Group LLC boosted their price target on Baidu from $232.00 to $305.00 and gave the stock a “buy” rating in a report on Friday, October 20th. Erste Group upgraded Baidu from a “sell” rating to a “hold” rating in a report on Monday, August 21st. Macquarie restated a “top pick” rating on shares of Baidu in a report on Monday, August 28th. Finally, OTR Global upgraded Baidu to a “positive” rating in a report on Wednesday, October 25th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $234.70.

Baidu, Inc. (NASDAQ:BIDU) traded up $0.68 during mid-day trading on Friday, hitting $240.00. The stock had a trading volume of 1,425,840 shares, compared to its average volume of 2,850,000. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.71 and a quick ratio of 1.71. The company has a market cap of $83,210.00, a P/E ratio of 29.65, a price-to-earnings-growth ratio of 1.39 and a beta of 1.94. Baidu, Inc. has a 12 month low of $160.79 and a 12 month high of $274.97.

About Baidu

Baidu, Inc is a Chinese language Internet search provider. The Company offers a Chinese language search platform on its Baidu.com Website that enables users to find information online, including Webpages, news, images, documents and multimedia files, through links provided on its Website. In addition to serving individual Internet search users, the Company provides a platform for businesses to reach customers.

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Institutional Ownership by Quarter for Baidu (NASDAQ:BIDU)

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