Legal & General Group Plc lowered its position in shares of Baidu, Inc. (NASDAQ:BIDU – Free Report) by 7.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 272,511 shares of the information services provider’s stock after selling 20,532 shares during the quarter. Legal & General Group Plc’s holdings in Baidu were worth $35,606,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Binnacle Investments Inc acquired a new stake in Baidu during the 2nd quarter worth about $29,000. UMB Bank n.a. lifted its position in Baidu by 65.0% during the 3rd quarter. UMB Bank n.a. now owns 340 shares of the information services provider’s stock worth $45,000 after acquiring an additional 134 shares during the period. Ameritas Advisory Services LLC lifted its position in Baidu by 12,400.0% during the 3rd quarter. Ameritas Advisory Services LLC now owns 375 shares of the information services provider’s stock worth $49,000 after acquiring an additional 372 shares during the period. Sycomore Asset Management acquired a new stake in Baidu during the 3rd quarter worth about $79,000. Finally, Mondrian Investment Partners LTD acquired a new stake in Baidu during the 3rd quarter worth about $80,000.
Wall Street Analyst Weigh In
BIDU has been the subject of a number of research reports. Barclays lowered their price target on Baidu from $147.00 to $128.00 and set an “equal weight” rating for the company in a research report on Thursday, March 5th. Wall Street Zen raised Baidu from a “sell” rating to a “hold” rating in a research report on Monday, May 25th. Morgan Stanley lifted their price target on Baidu from $135.00 to $140.00 in a research report on Tuesday, May 19th. Zacks Research cut Baidu from a “hold” rating to a “strong sell” rating in a report on Thursday, April 16th. Finally, Susquehanna boosted their price objective on Baidu from $120.00 to $140.00 and gave the company a “neutral” rating in a report on Wednesday, May 20th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $162.58.
Baidu Stock Performance
Shares of BIDU stock opened at $135.31 on Friday. The stock has a market cap of $46.04 billion, a PE ratio of -1,127.49, a price-to-earnings-growth ratio of 2.28 and a beta of 0.53. The business has a 50-day simple moving average of $124.21 and a 200-day simple moving average of $129.50. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.22. Baidu, Inc. has a 52-week low of $81.17 and a 52-week high of $165.30.
Baidu Company Profile
Baidu, Inc, founded in 2000 and headquartered in Beijing, is a Chinese multinational technology company best known for operating one of China’s leading internet search engines. The company built its business around online search and related advertising services, providing search, content aggregation and targeted ad placements to consumers and marketers across China. Baidu went public on the NASDAQ in 2005 and has since diversified beyond search into a broader technology and AI-focused portfolio.
Core products and services include the Baidu search platform and mobile app, Baidu Maps and Baidu Baike (an online encyclopedia), along with digital content initiatives.
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