Vontobel Holding Ltd. Decreases Stock Holdings in Baidu, Inc. (NASDAQ:BIDU)

Vontobel Holding Ltd. lessened its stake in Baidu, Inc. (NASDAQ:BIDU) by 62.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 43,800 shares of the information services provider’s stock after selling 71,932 shares during the period. Vontobel Holding Ltd.’s holdings in Baidu were worth $4,612,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Primecap Management Co. CA lifted its position in Baidu by 17.2% during the second quarter. Primecap Management Co. CA now owns 11,947,706 shares of the information services provider’s stock valued at $1,033,238,000 after acquiring an additional 1,753,577 shares during the last quarter. Canada Pension Plan Investment Board boosted its position in shares of Baidu by 49.7% in the 1st quarter. Canada Pension Plan Investment Board now owns 1,018,685 shares of the information services provider’s stock worth $107,247,000 after purchasing an additional 338,110 shares in the last quarter. DekaBank Deutsche Girozentrale grew its stake in Baidu by 103.1% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 582,475 shares of the information services provider’s stock worth $51,192,000 after buying an additional 295,700 shares during the last quarter. XY Capital Ltd acquired a new position in Baidu during the 2nd quarter valued at about $23,880,000. Finally, SG Americas Securities LLC raised its stake in Baidu by 337.5% in the first quarter. SG Americas Securities LLC now owns 250,418 shares of the information services provider’s stock valued at $26,364,000 after buying an additional 193,180 shares during the last quarter.

Baidu Trading Up 2.5 %

Shares of Baidu stock opened at $94.39 on Friday. Baidu, Inc. has a fifty-two week low of $79.68 and a fifty-two week high of $126.23. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.32 and a current ratio of 2.32. The company has a market cap of $33.10 billion, a P/E ratio of 12.64 and a beta of 0.49. The firm has a 50-day simple moving average of $91.83 and a two-hundred day simple moving average of $95.09.

Analysts Set New Price Targets

Several research firms have recently issued reports on BIDU. Sanford C. Bernstein downgraded shares of Baidu from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $130.00 to $97.00 in a report on Friday, August 23rd. Benchmark lowered their price objective on shares of Baidu from $180.00 to $135.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Dbs Bank downgraded Baidu from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 3rd. Bank of America lowered their price target on Baidu from $128.00 to $117.00 and set a “buy” rating for the company in a research report on Friday, August 23rd. Finally, Loop Capital cut their price objective on Baidu from $120.00 to $115.00 and set a “buy” rating on the stock in a report on Monday, August 26th. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $132.13.

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.