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

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its stake in shares of Baidu, Inc. (NASDAQ:BIDU) by 45.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,550 shares of the information services provider’s stock after selling 5,423 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Baidu were worth $552,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Ameriprise Financial Inc. raised its position in Baidu by 7.5% in the fourth quarter. Ameriprise Financial Inc. now owns 45,949 shares of the information services provider’s stock worth $3,874,000 after acquiring an additional 3,200 shares in the last quarter. Diametric Capital LP raised its position in Baidu by 51.9% in the fourth quarter. Diametric Capital LP now owns 8,218 shares of the information services provider’s stock worth $693,000 after acquiring an additional 2,809 shares in the last quarter. Cantor Fitzgerald L. P. raised 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. Nuveen Asset Management LLC raised its position in Baidu by 19.4% in the fourth quarter. Nuveen Asset Management LLC now owns 166,858 shares of the information services provider’s stock worth $14,068,000 after acquiring an additional 27,057 shares in the last quarter. Finally, Cerity Partners LLC raised its position in Baidu by 17.5% in the fourth quarter. Cerity Partners LLC now owns 4,281 shares of the information services provider’s stock worth $365,000 after acquiring an additional 638 shares in the last quarter.

Baidu Stock Up 0.1%

Shares of NASDAQ:BIDU opened at $87.55 on Thursday. The stock’s 50-day moving average price is $85.74 and its two-hundred day moving average price is $87.75. The company has a current ratio of 2.09, a quick ratio of 2.19 and a debt-to-equity ratio of 0.19. Baidu, Inc. has a 12-month low of $74.71 and a 12-month high of $116.25. The firm has a market cap of $30.24 billion, a price-to-earnings ratio of 9.55, a PEG ratio of 2.96 and a beta of 0.33.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Wall Street Zen cut Baidu from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Barclays set a $84.00 price target on Baidu and gave the company an “equal weight” rating in a research report on Thursday, May 22nd. Daiwa Capital Markets restated an “outperform” rating on shares of Baidu in a research report on Tuesday, February 18th. Nomura Securities cut Baidu from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Finally, Nomura cut Baidu from a “buy” rating to a “neutral” rating in a research report on Wednesday, February 19th. Twelve research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $107.82.

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.