UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Trims Stock Position in Baidu, Inc. (NASDAQ:BIDU)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its position in Baidu, Inc. (NASDAQ:BIDU) by 69.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,973 shares of the information services provider’s stock after selling 26,879 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Baidu were worth $1,261,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in BIDU. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Baidu in the third quarter worth approximately $1,054,000. Handelsbanken Fonder AB grew its holdings in shares of Baidu by 8.9% during the 3rd quarter. Handelsbanken Fonder AB now owns 182,817 shares of the information services provider’s stock worth $19,249,000 after purchasing an additional 15,000 shares during the period. Clear Harbor Asset Management LLC increased its position in shares of Baidu by 82.9% during the 3rd quarter. Clear Harbor Asset Management LLC now owns 20,503 shares of the information services provider’s stock worth $2,159,000 after purchasing an additional 9,292 shares during the last quarter. B. Riley Wealth Advisors Inc. purchased a new stake in Baidu in the 2nd quarter valued at about $606,000. Finally, Pzena Investment Management LLC lifted its position in Baidu by 6.6% in the third quarter. Pzena Investment Management LLC now owns 330,131 shares of the information services provider’s stock valued at $34,759,000 after buying an additional 20,550 shares during the last quarter.

Baidu Stock Performance

Shares of BIDU opened at $90.18 on Wednesday. The stock has a 50-day simple moving average of $89.67 and a 200-day simple moving average of $90.26. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.19 and a current ratio of 2.19. Baidu, Inc. has a 1 year low of $78.95 and a 1 year high of $120.25. The stock has a market capitalization of $31.62 billion, a PE ratio of 11.04, a PEG ratio of 1.19 and a beta of 0.46.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on BIDU shares. Hsbc Global Res cut shares of Baidu from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Susquehanna downgraded shares of Baidu from a “positive” rating to a “neutral” rating and dropped their target price for the company from $105.00 to $85.00 in a report on Monday, November 25th. JPMorgan Chase & Co. cut Baidu from an “overweight” rating to a “neutral” rating in a research note on Wednesday, November 27th. China Renaissance lowered Baidu from a “buy” rating to a “hold” rating and set a $86.00 price target for the company. in a research report on Monday, November 25th. Finally, Barclays downgraded Baidu from an “overweight” rating to an “equal weight” rating in a report on Friday, November 22nd. Eleven research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $113.75.

Baidu 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.