Lazard Asset Management LLC Sells 23,526 Shares of Baidu, Inc. (NASDAQ:BIDU)

Lazard Asset Management LLC lowered its position in shares of Baidu, Inc. (NASDAQ:BIDU) by 21.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor 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 filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Rialto Wealth Management LLC bought a new position in shares of Baidu during the 4th quarter worth approximately $42,000. Sycomore Asset Management bought a new position in shares of Baidu during the 4th quarter worth approximately $51,000. GeoWealth Management LLC lifted its position in shares of Baidu by 88.5% during the 4th quarter. GeoWealth Management LLC now owns 656 shares of the information services provider’s stock worth $55,000 after buying an additional 308 shares in the last quarter. Retireful LLC bought a new position in shares of Baidu during the 4th quarter worth approximately $205,000. Finally, Savvy Advisors Inc. bought a new position in shares of Baidu during the 4th quarter worth approximately $232,000.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on BIDU. Barclays decreased their price target on shares of Baidu from $95.00 to $90.00 and set an “equal weight” rating for the company in a research note on Monday, April 21st. Benchmark restated a “buy” rating and set a $130.00 price target on shares of Baidu in a research note on Wednesday, February 19th. StockNews.com lowered shares of Baidu from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Nomura lowered shares of Baidu from a “buy” rating to a “neutral” rating in a research note on Wednesday, February 19th. Finally, Nomura Securities lowered shares of Baidu from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Thirteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $110.83.

Baidu Stock Up 1.5%

Baidu stock opened at $92.50 on Thursday. Baidu, Inc. has a 1-year low of $74.71 and a 1-year high of $116.25. The firm has a market capitalization of $31.95 billion, a price-to-earnings ratio of 10.09, a P/E/G ratio of 2.96 and a beta of 0.37. The company has a current ratio of 2.09, a quick ratio of 2.19 and a debt-to-equity ratio of 0.19. The firm has a 50 day simple moving average of $89.20 and a 200 day simple moving average of $88.08.

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.