NetEase, Inc. (NASDAQ:NTES) Shares Sold by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund cut its holdings in shares of NetEase, Inc. (NASDAQ:NTES) by 76.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 73,000 shares of the technology company’s stock after selling 240,900 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in NetEase were worth $6,977,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of NTES. Mather Group LLC. boosted its holdings in NetEase by 1,415.0% in the 2nd quarter. Mather Group LLC. now owns 303 shares of the technology company’s stock worth $31,000 after buying an additional 283 shares during the last quarter. SYSTM Wealth Solutions LLC boosted its holdings in NetEase by 55.5% in the 2nd quarter. SYSTM Wealth Solutions LLC now owns 328 shares of the technology company’s stock worth $31,000 after buying an additional 117 shares during the last quarter. Ariadne Wealth Management LP acquired a new stake in NetEase in the 2nd quarter worth about $35,000. UMB Bank n.a. acquired a new stake in NetEase in the 1st quarter worth about $50,000. Finally, ORG Partners LLC purchased a new position in NetEase in the 1st quarter worth approximately $50,000. 11.07% of the stock is currently owned by institutional investors and hedge funds.

NetEase Trading Up 0.9 %

Shares of NTES stock opened at $102.33 on Friday. The firm has a fifty day moving average price of $85.98 and a 200 day moving average price of $92.26. The company has a market cap of $65.71 billion, a P/E ratio of 15.87, a PEG ratio of 1.78 and a beta of 0.55. NetEase, Inc. has a 12 month low of $75.85 and a 12 month high of $118.89.

NetEase (NASDAQ:NTES) last announced its quarterly earnings results on Thursday, August 22nd. The technology company reported $12.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $10.43. NetEase had a net margin of 26.98% and a return on equity of 22.30%. The firm had revenue of $25.49 billion during the quarter, compared to analysts’ expectations of $26.01 billion. During the same period in the previous year, the company earned $1.75 earnings per share. NetEase’s quarterly revenue was up 6.1% compared to the same quarter last year. On average, equities analysts forecast that NetEase, Inc. will post 6.05 EPS for the current year.

NetEase Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were given a $0.435 dividend. The ex-dividend date was Friday, September 6th. This represents a $1.74 dividend on an annualized basis and a yield of 1.70%. NetEase’s dividend payout ratio (DPR) is presently 26.82%.

Analyst Ratings Changes

A number of research analysts have weighed in on NTES shares. Barclays decreased their target price on shares of 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 cut their target price on NetEase from $126.00 to $103.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. Bank of America cut their target price on NetEase from $142.00 to $120.00 and set a “buy” rating on the stock in a research report on Friday, August 23rd. Morgan Stanley reissued an “equal weight” rating and issued a $100.00 target price on shares of NetEase in a research report on Friday, July 5th. Finally, StockNews.com lowered NetEase from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 20th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $112.67.

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.