Banque Pictet & Cie SA Has $8.36 Million Position in HDFC Bank Limited $HDB

Key Points

• Banque Pictet & Cie SA reduced its stake in HDFC Bank (NYSE: HDB) by 15.2% in Q4, selling 41,179 shares and holding 228,910 shares valued at about $8.36 million after the filing.
• Other institutional moves include Goldman Sachs raising its position to 883,855 shares (≈$58.7M); overall institutional ownership stands at about 17.61% of the stock.
• HDFC Bank (ADR) trades with a market cap of $127.13B and a P/E of 14.97 (52-week range $23.91–$39.81), while insider N. Srinivasan sold 10,000 shares and analyst coverage skews negative with an average rating of "Reduce".

Banque Pictet & Cie SA decreased its stake in HDFC Bank Limited (NYSE:HDB - Free Report) by 15.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 228,910 shares of the bank's stock after selling 41,179 shares during the period. Banque Pictet & Cie SA's holdings in HDFC Bank were worth $8,364,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. NewEdge Advisors LLC boosted its holdings in HDFC Bank by 8.6% in the first quarter. NewEdge Advisors LLC now owns 11,676 shares of the bank's stock valued at $776,000 after acquiring an additional 922 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in HDFC Bank by 1.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 883,855 shares of the bank's stock worth $58,723,000 after purchasing an additional 13,435 shares during the last quarter. Sivia Capital Partners LLC lifted its position in shares of HDFC Bank by 24.5% in the 2nd quarter. Sivia Capital Partners LLC now owns 7,840 shares of the bank's stock worth $601,000 after purchasing an additional 1,541 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in shares of HDFC Bank by 464.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,484 shares of the bank's stock worth $114,000 after purchasing an additional 1,221 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ bought a new stake in shares of HDFC Bank in the 2nd quarter valued at $941,000. 17.61% of the stock is currently owned by institutional investors.

HDFC Bank Price Performance

NYSE HDB opened at $24.92 on Thursday. The stock has a market capitalization of $127.13 billion, a P/E ratio of 14.97, a P/E/G ratio of 1.02 and a beta of 0.67. The business has a 50 day simple moving average of $30.40 and a 200 day simple moving average of $33.68. HDFC Bank Limited has a one year low of $23.91 and a one year high of $39.81.

Insider Activity

In other news, insider N Srinivasan sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $8.21, for a total transaction of $82,100.00. Following the completion of the sale, the insider owned 648,422 shares of the company's stock, valued at $5,323,544.62. This trade represents a 1.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 1.00% of the company's stock.

Analyst Ratings Changes

HDB has been the subject of several recent analyst reports. Weiss Ratings cut shares of HDFC Bank from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday, March 6th. Wall Street Zen upgraded shares of HDFC Bank from a "sell" rating to a "hold" rating in a report on Friday, January 23rd. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Reduce".

HDFC Bank Profile

HDFC Bank Limited is one of India's leading private sector banks, headquartered in Mumbai. Incorporated in 1994 and promoted by Housing Development Finance Corporation (HDFC), the bank provides a full range of banking and financial services to retail, small and medium-sized enterprises, and corporate customers. It is publicly listed and also accessible to international investors through American Depositary Receipts (ADRs) trading on the New York Stock Exchange under the symbol HDB.

The bank's core activities include retail banking (deposit accounts, personal loans, home loans, auto loans, and credit cards), commercial and corporate banking (working capital finance, term lending, trade finance and treasury services), and transaction banking (cash management and payment solutions).

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