Baidu, Inc. (NASDAQ:BIDU) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its position in shares of Baidu, Inc. (NASDAQ:BIDU) by 69.2% during the third quarter, according to 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 quarter. 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.

Other institutional investors have also recently made changes to their positions in the company. iA Global Asset Management Inc. purchased a new position in Baidu in the second quarter valued at $52,000. Denver PWM LLC acquired a new stake in shares of Baidu during the 2nd quarter valued at about $67,000. Allspring Global Investments Holdings LLC increased its stake in shares of Baidu by 630.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 687 shares of the information services provider’s stock valued at $72,000 after purchasing an additional 593 shares in the last quarter. Grove Bank & Trust raised its holdings in Baidu by 21.6% in the 3rd quarter. Grove Bank & Trust now owns 731 shares of the information services provider’s stock worth $77,000 after purchasing an additional 130 shares during the period. Finally, Transamerica Financial Advisors Inc. purchased a new position in Baidu during the third quarter worth approximately $82,000.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on BIDU. Loop Capital reduced their target price on Baidu from $120.00 to $115.00 and set a “buy” rating for the company in a research note on Monday, August 26th. Susquehanna cut shares of Baidu from a “positive” rating to a “neutral” rating and reduced their price objective for the stock from $105.00 to $85.00 in a research report on Monday, November 25th. Hsbc Global Res downgraded shares of Baidu from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 24th. Mizuho cut their target price on shares of Baidu from $130.00 to $115.00 and set an “outperform” rating for the company in a research note on Tuesday, November 12th. Finally, JPMorgan Chase & Co. lowered shares of Baidu from an “overweight” rating to a “neutral” rating in a research note on Wednesday, November 27th. Eleven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $113.75.

Baidu Price Performance

NASDAQ:BIDU opened at $90.18 on Wednesday. Baidu, Inc. has a one year low of $78.95 and a one year high of $120.25. The stock has a market cap of $31.62 billion, a PE ratio of 11.04, a P/E/G ratio of 1.19 and a beta of 0.46. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.19 and a current ratio of 2.19. The stock has a 50 day moving average price of $89.67 and a 200 day moving average price of $90.26.

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.