UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its stake in Baidu, Inc. (NASDAQ:BIDU - Free Report) by 69.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund 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.
Several other hedge funds have also bought and sold shares of BIDU. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Baidu in the third quarter worth about $36,272,000. Bridgewater Associates LP bought a new stake in shares of Baidu in the 3rd quarter valued at approximately $12,033,000. Townsquare Capital LLC purchased a new position in shares of Baidu in the 3rd quarter worth approximately $4,691,000. Transamerica Financial Advisors Inc. bought a new position in shares of Baidu during the 3rd quarter valued at approximately $82,000. Finally, BNP Paribas Financial Markets raised its holdings in Baidu by 54.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 296,190 shares of the information services provider's stock valued at $31,186,000 after buying an additional 104,449 shares during the period.
Baidu Stock Down 2.0 %
Shares of BIDU traded down $1.83 during mid-day trading on Wednesday, hitting $88.35. The company's stock had a trading volume of 1,969,389 shares, compared to its average volume of 3,585,248. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 0.18. The company's 50-day moving average is $89.35 and its 200-day moving average is $90.25. Baidu, Inc. has a 52-week low of $78.95 and a 52-week high of $120.25. The firm has a market capitalization of $30.98 billion, a price-to-earnings ratio of 10.81, a PEG ratio of 1.19 and a beta of 0.46.
Wall Street Analysts Forecast Growth
Several research analysts have commented on BIDU shares. Dbs Bank lowered shares of Baidu from a "strong-buy" rating to a "hold" rating in a research note on Thursday, October 3rd. Jefferies Financial Group cut their price target on shares of Baidu from $174.00 to $139.00 and set a "buy" rating on the stock in a report on Thursday, August 22nd. HSBC downgraded shares of Baidu from a "buy" rating to a "hold" rating and set a $100.00 price objective for the company. in a research note on Tuesday, September 24th. Mizuho decreased their price target on Baidu from $130.00 to $115.00 and set an "outperform" rating for the company in a research note on Tuesday, November 12th. Finally, Barclays cut Baidu from an "overweight" rating to an "equal weight" rating in a report on Friday, November 22nd. Eleven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $113.75.
View Our Latest Stock Analysis on BIDU
Baidu Profile
(
Free Report)
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.
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