Vontobel Holding Ltd. Has $6.02 Million Stake in Baidu, Inc. (NASDAQ:BIDU)

Vontobel Holding Ltd. boosted its stake in shares of Baidu, Inc. (NASDAQ:BIDU - Free Report) by 49.7% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 65,415 shares of the information services provider's stock after purchasing an additional 21,718 shares during the period. Vontobel Holding Ltd.'s holdings in Baidu were worth $6,020,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Baidu by 1,377.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,324,728 shares of the information services provider's stock worth $490,035,000 after purchasing an additional 4,964,350 shares in the last quarter. RPD Fund Management LLC bought a new position in Baidu during the fourth quarter valued at approximately $72,245,000. FIL Ltd lifted its stake in Baidu by 367.1% in the fourth quarter. FIL Ltd now owns 599,918 shares of the information services provider's stock valued at $50,579,000 after acquiring an additional 471,497 shares during the last quarter. Cantor Fitzgerald L. P. grew its position in Baidu by 1,510.9% in the fourth quarter. Cantor Fitzgerald L. P. now owns 399,975 shares of the information services provider's stock worth $33,722,000 after acquiring an additional 375,145 shares in the last quarter. Finally, Polunin Capital Partners Ltd bought a new stake in Baidu in the first quarter worth approximately $31,748,000.

Wall Street Analyst Weigh In

Several brokerages have commented on BIDU. Barclays set a $84.00 price target on Baidu and gave the company an "equal weight" rating in a report on Thursday, May 22nd. Sanford C. Bernstein reiterated a "market perform" rating on shares of Baidu in a research note on Saturday, March 8th. Benchmark dropped their target price on shares of Baidu from $130.00 to $120.00 and set a "buy" rating on the stock in a report on Thursday, May 22nd. Citigroup cut their target price on shares of Baidu from $139.00 to $138.00 and set a "buy" rating for the company in a research report on Thursday, May 22nd. Finally, Macquarie reaffirmed a "neutral" rating on shares of Baidu in a research report on Wednesday, May 21st. Twelve research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $107.82.

Baidu Stock Performance

BIDU stock traded down $0.08 during midday trading on Thursday, hitting $86.37. The stock had a trading volume of 1,167,623 shares, compared to its average volume of 4,084,529. Baidu, Inc. has a 52 week low of $74.71 and a 52 week high of $116.25. The company has a current ratio of 2.29, a quick ratio of 2.29 and a debt-to-equity ratio of 0.27. The stock has a 50-day simple moving average of $86.92 and a 200 day simple moving average of $87.65. The firm has a market capitalization of $29.83 billion, a price-to-earnings ratio of 8.57 and a beta of 0.33.

Baidu Company Profile

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.