Lazard Asset Management LLC Lowers Holdings in Baidu, Inc. (NASDAQ:BIDU)

Lazard Asset Management LLC lowered its position in shares of Baidu, Inc. (NASDAQ:BIDU - Free Report) by 21.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 85,932 shares of the information services provider's stock after selling 23,526 shares during the quarter. Lazard Asset Management LLC's holdings in Baidu were worth $7,244,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. LMR Partners LLP acquired a new stake in shares of Baidu in the fourth quarter worth $11,467,000. Cantor Fitzgerald L. P. increased its holdings in shares of Baidu by 1,510.9% in the 4th quarter. Cantor Fitzgerald L. P. now owns 399,975 shares of the information services provider's stock valued at $33,722,000 after purchasing an additional 375,145 shares during the period. Bank of America Corp DE boosted its holdings in shares of Baidu by 14.1% during the fourth quarter. Bank of America Corp DE now owns 913,466 shares of the information services provider's stock worth $77,014,000 after purchasing an additional 112,680 shares during the period. BNP Paribas Financial Markets grew its position in Baidu by 3.6% during the fourth quarter. BNP Paribas Financial Markets now owns 306,754 shares of the information services provider's stock valued at $25,862,000 after purchasing an additional 10,564 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in shares of Baidu by 7.5% during the 4th quarter. Ameriprise Financial Inc. now owns 45,949 shares of the information services provider's stock valued at $3,874,000 after buying an additional 3,200 shares during the period.

Baidu Stock Performance

Shares of Baidu stock traded down $0.35 during trading hours on Monday, reaching $88.99. The company had a trading volume of 1,511,078 shares, compared to its average volume of 4,082,377. 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 firm has a market cap of $30.74 billion, a PE ratio of 9.70, a price-to-earnings-growth ratio of 2.96 and a beta of 0.37. The business has a fifty day simple moving average of $89.03 and a 200 day simple moving average of $87.97.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Nomura cut Baidu from a "buy" rating to a "neutral" rating in a research report on Wednesday, February 19th. Barclays dropped their price objective on Baidu from $95.00 to $90.00 and set an "equal weight" rating for the company in a report on Monday, April 21st. Mizuho increased their target price on shares of Baidu from $95.00 to $105.00 and gave the stock an "outperform" rating in a report on Wednesday, February 19th. Daiwa Capital Markets restated an "outperform" rating on shares of Baidu in a report on Tuesday, February 18th. Finally, Benchmark reiterated a "buy" rating and issued a $130.00 price target on shares of Baidu in a report on Wednesday, February 19th. Eleven research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $109.55.

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.