NetEase, Inc. (NASDAQ:NTES) Shares Purchased by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA raised its stake in shares of NetEase, Inc. (NASDAQ:NTES) by 6.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,692,705 shares of the technology company’s stock after acquiring an additional 103,102 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in NetEase were worth $161,789,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in NTES. Sequoia Financial Advisors LLC lifted its position in shares of NetEase by 4.3% during the second quarter. Sequoia Financial Advisors LLC now owns 2,575 shares of the technology company’s stock worth $246,000 after purchasing an additional 107 shares during the last quarter. Guinness Atkinson Asset Management Inc raised its stake in NetEase by 0.7% during the second quarter. Guinness Atkinson Asset Management Inc now owns 15,422 shares of the technology company’s stock valued at $1,474,000 after buying an additional 110 shares in the last quarter. Mendota Financial Group LLC lifted its holdings in NetEase by 9.2% during the 1st quarter. Mendota Financial Group LLC now owns 1,508 shares of the technology company’s stock worth $156,000 after buying an additional 127 shares during the last quarter. Fifth Third Bancorp grew its position in shares of NetEase by 1.9% in the 2nd quarter. Fifth Third Bancorp now owns 7,658 shares of the technology company’s stock worth $732,000 after acquiring an additional 146 shares in the last quarter. Finally, Mather Group LLC. increased its holdings in shares of NetEase by 1,415.0% in the 2nd quarter. Mather Group LLC. now owns 303 shares of the technology company’s stock valued at $31,000 after acquiring an additional 283 shares during the last quarter. 11.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on NTES shares. Barclays reduced their price objective on NetEase from $104.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Monday, August 26th. Jefferies Financial Group decreased their price target on shares of NetEase from $126.00 to $103.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Bank of America lowered their price objective on shares of NetEase from $142.00 to $120.00 and set a “buy” rating for the company in a research report on Friday, August 23rd. Benchmark raised their target price on shares of NetEase from $144.00 to $145.00 and gave the stock a “buy” rating in a report on Friday, May 24th. Finally, StockNews.com lowered NetEase from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 20th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $112.67.

NetEase Stock Up 0.3 %

Shares of NASDAQ:NTES opened at $77.02 on Wednesday. NetEase, Inc. has a fifty-two week low of $75.85 and a fifty-two week high of $118.89. The company has a market cap of $49.46 billion, a PE ratio of 11.94, a P/E/G ratio of 1.72 and a beta of 0.54. The company’s 50-day moving average price is $86.69 and its 200 day moving average price is $93.59.

NetEase (NASDAQ:NTES) last issued its quarterly earnings data on Thursday, August 22nd. The technology company reported $12.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $10.43. NetEase had a return on equity of 22.30% and a net margin of 26.98%. The business had revenue of $25.49 billion during the quarter, compared to the consensus estimate of $26.01 billion. During the same period in the previous year, the firm posted $1.75 earnings per share. The business’s revenue was up 6.1% on a year-over-year basis. As a group, equities analysts anticipate that NetEase, Inc. will post 6.05 EPS for the current year.

NetEase Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be paid a dividend of $0.435 per share. This represents a $1.74 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date is Friday, September 6th. NetEase’s dividend payout ratio is currently 26.82%.

About NetEase

NetEase, Inc engages in online games, music streaming, online intelligent learning services, and internet content services businesses in China and internationally . The company operates through Games and Related Value-Added Services, Youdao, Cloud Music, and Innovative Businesses and Others segments.