NetEase, Inc. (NASDAQ:NTES) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its stake in shares of NetEase, Inc. (NASDAQ:NTES) by 5.3% in the second quarter, Holdings Channel reports. The fund owned 9,545 shares of the technology company’s stock after selling 536 shares during the period. Bank of New York Mellon Corp’s holdings in NetEase were worth $912,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Mather Group LLC. raised its stake in shares of NetEase by 1,415.0% during the second quarter. Mather Group LLC. now owns 303 shares of the technology company’s stock worth $31,000 after purchasing an additional 283 shares during the last quarter. UMB Bank n.a. acquired a new position in NetEase in the 1st quarter valued at $50,000. ORG Partners LLC purchased a new position in NetEase during the 1st quarter worth $50,000. AdvisorNet Financial Inc raised its position in NetEase by 39.6% during the 2nd quarter. AdvisorNet Financial Inc now owns 1,400 shares of the technology company’s stock worth $134,000 after buying an additional 397 shares during the last quarter. Finally, Mendota Financial Group LLC lifted its stake in shares of NetEase by 9.2% in the 1st quarter. Mendota Financial Group LLC now owns 1,508 shares of the technology company’s stock worth $156,000 after acquiring an additional 127 shares during the period. 11.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NTES. Bank of America dropped their price target on shares of NetEase from $142.00 to $120.00 and set a “buy” rating on the stock in a research note on Friday, August 23rd. Barclays dropped their target price on NetEase from $104.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Monday, August 26th. Morgan Stanley reissued an “equal weight” rating and issued a $100.00 price target on shares of NetEase in a report on Friday, July 5th. StockNews.com downgraded NetEase from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 20th. Finally, Jefferies Financial Group cut their price objective on NetEase from $126.00 to $103.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, NetEase has an average rating of “Moderate Buy” and an average target price of $112.67.

NetEase Trading Down 0.7 %

NTES stock opened at $78.90 on Friday. The firm has a 50 day moving average of $85.89 and a 200-day moving average of $93.08. The company has a market cap of $50.67 billion, a price-to-earnings ratio of 12.23, a PEG ratio of 1.72 and a beta of 0.54. NetEase, Inc. has a 12-month low of $75.85 and a 12-month high of $118.89.

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. The firm had revenue of $25.49 billion during the quarter, compared to analysts’ expectations of $26.01 billion. NetEase had a return on equity of 22.30% and a net margin of 26.98%. NetEase’s revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.75 earnings per share. Sell-side analysts forecast that NetEase, Inc. will post 6.05 earnings per share for the current fiscal year.

NetEase Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were paid a dividend of $0.435 per share. This represents a $1.74 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend was Friday, September 6th. NetEase’s dividend payout ratio (DPR) is presently 26.82%.

NetEase Profile

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.