Legal & General Group Plc Sells 89,127 Shares of Baidu, Inc. (NASDAQ:BIDU)

Legal & General Group Plc lessened its holdings in shares of Baidu, Inc. (NASDAQ:BIDU) by 19.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 359,098 shares of the information services provider’s stock after selling 89,127 shares during the quarter. Legal & General Group Plc’s holdings in Baidu were worth $30,288,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. SG Americas Securities LLC grew its stake in 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 buying an additional 227,338 shares in the last quarter. World Investment Advisors LLC purchased a new position in shares of Baidu in the third quarter valued at $72,000. Union Bancaire Privee UBP SA purchased a new position in shares of Baidu in the fourth quarter valued at $558,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Baidu by 1,111.3% during 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 during the period. Finally, Ping Capital Management Inc. lifted its holdings in Baidu by 300.0% during the 4th quarter. Ping Capital Management Inc. now owns 10,000 shares of the information services provider’s stock worth $843,000 after purchasing an additional 7,500 shares in the last quarter.

Baidu Price Performance

Shares of Baidu stock opened at $82.73 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.09 and a quick ratio of 2.19. Baidu, Inc. has a one year low of $74.71 and a one year high of $116.25. The business’s 50 day simple moving average is $90.60 and its two-hundred day simple moving average is $90.09. The stock has a market capitalization of $29.01 billion, a P/E ratio of 9.02, a price-to-earnings-growth ratio of 2.96 and a beta of 0.33.

Analyst Ratings Changes

A number of research firms have weighed in on BIDU. StockNews.com lowered Baidu from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Barclays upped their target price on shares of Baidu from $83.00 to $95.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 11th. Nomura downgraded shares of Baidu from a “buy” rating to a “neutral” rating in a report on Wednesday, February 19th. Benchmark reaffirmed a “buy” rating and issued a $130.00 price target on shares of Baidu in a report on Wednesday, February 19th. Finally, Nomura Securities lowered Baidu from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Thirteen analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Baidu currently has an average rating of “Hold” and a consensus target price of $111.25.

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.