Legal & General Group Plc Cuts Stake in Baidu, Inc. (NASDAQ:BIDU)

Legal & General Group Plc reduced its stake in shares of Baidu, Inc. (NASDAQ:BIDU - Free Report) by 19.9% in the fourth quarter, according to its most recent filing 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 period. Legal & General Group Plc owned about 0.10% of Baidu worth $30,288,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Cerity Partners LLC grew its holdings in Baidu by 17.5% during the fourth quarter. Cerity Partners LLC now owns 4,281 shares of the information services provider's stock valued at $365,000 after purchasing an additional 638 shares during the period. Annandale Capital LLC lifted its position in shares of Baidu by 97.8% during the 4th quarter. Annandale Capital LLC now owns 40,032 shares of the information services provider's stock valued at $3,375,000 after buying an additional 19,793 shares during the last quarter. Pitcairn Co. grew its stake in shares of Baidu by 45.3% during the 4th quarter. Pitcairn Co. now owns 7,322 shares of the information services provider's stock worth $617,000 after acquiring an additional 2,283 shares during the period. Geode Capital Management LLC increased its holdings in Baidu by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 120,628 shares of the information services provider's stock worth $10,170,000 after acquiring an additional 1,020 shares during the last quarter. Finally, Diametric Capital LP raised its stake in Baidu by 51.9% in the 4th quarter. Diametric Capital LP now owns 8,218 shares of the information services provider's stock valued at $693,000 after acquiring an additional 2,809 shares during the period.

Baidu Price Performance

Shares of NASDAQ BIDU traded up $0.09 during mid-day trading on Friday, reaching $82.59. 2,285,728 shares of the company were exchanged, compared to its average volume of 4,174,362. Baidu, Inc. has a 52 week low of $74.71 and a 52 week high of $116.25. The company's 50 day moving average price is $90.08 and its 200 day moving average price is $89.62. The stock has a market capitalization of $28.96 billion, a PE ratio of 9.01, a PEG ratio of 2.96 and a beta of 0.33. The company has a quick ratio of 2.19, a current ratio of 2.09 and a debt-to-equity ratio of 0.19.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Sanford C. Bernstein reiterated a "market perform" rating on shares of Baidu in a research report on Saturday, March 8th. Benchmark reiterated a "buy" rating and issued a $130.00 price objective on shares of Baidu in a research note on Wednesday, February 19th. Nomura downgraded Baidu from a "buy" rating to a "neutral" rating in a research report on Wednesday, February 19th. Nomura Securities cut Baidu from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, February 19th. Finally, Barclays increased their price objective on Baidu from $83.00 to $95.00 and gave the stock an "equal weight" rating in a report on Tuesday, February 11th. Thirteen 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.com, the stock currently has an average rating of "Hold" and an average price target of $111.25.

Baidu Profile

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.