Ethic Inc. Reduces Stock Position in Baidu, Inc. (NASDAQ:BIDU)

Ethic Inc. lowered its stake in shares of Baidu, Inc. (NASDAQ:BIDU - Free Report) by 39.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 7,856 shares of the information services provider's stock after selling 5,035 shares during the period. Ethic Inc.'s holdings in Baidu were worth $662,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. SG Americas Securities LLC increased its stake in shares of Baidu by 147.5% in the 4th quarter. SG Americas Securities LLC now owns 381,456 shares of the information services provider's stock valued at $32,161,000 after purchasing an additional 227,338 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new position in shares of Baidu in the 4th quarter valued at about $558,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Baidu by 1,111.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 360,378 shares of the information services provider's stock valued at $30,317,000 after purchasing an additional 330,627 shares in the last quarter. Ping Capital Management Inc. increased its stake in shares of Baidu by 300.0% in the 4th quarter. Ping Capital Management Inc. now owns 10,000 shares of the information services provider's stock valued at $843,000 after purchasing an additional 7,500 shares in the last quarter. Finally, Assenagon Asset Management S.A. purchased a new position in shares of Baidu in the 4th quarter valued at about $2,202,000.

Baidu Stock Down 0.4%

Shares of Baidu stock traded down $0.36 during trading hours on Monday, reaching $88.98. 1,356,760 shares of the company were exchanged, compared to its average volume of 4,081,273. Baidu, Inc. has a 1 year low of $74.71 and a 1 year high of $116.25. The stock's fifty day moving average is $89.03 and its 200 day moving average is $87.97. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.19 and a current ratio of 2.09. The firm has a market cap of $30.74 billion, a PE ratio of 9.70, a PEG ratio of 2.96 and a beta of 0.37.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Benchmark reiterated a "buy" rating and set a $130.00 price objective on shares of Baidu in a research note on Wednesday, February 19th. Barclays cut their price objective on Baidu from $95.00 to $90.00 and set an "equal weight" rating for the company in a research note on Monday, April 21st. Nomura lowered Baidu from a "buy" rating to a "neutral" rating in a research note on Wednesday, February 19th. Daiwa Capital Markets restated an "outperform" rating on shares of Baidu in a report on Tuesday, February 18th. Finally, Mizuho boosted their target price on Baidu from $95.00 to $105.00 and gave the stock an "outperform" rating in a report on Wednesday, February 19th. Eleven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, Baidu presently has a consensus rating of "Hold" and an average price target of $109.55.

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.