Victory Capital Management Inc. Lowers Stock Position in NetEase, Inc. (NASDAQ:NTES)

Victory Capital Management Inc. reduced its stake in NetEase, Inc. (NASDAQ:NTES) by 55.0% during the third quarter, HoldingsChannel reports. The firm owned 4,199 shares of the technology company’s stock after selling 5,124 shares during the period. Victory Capital Management Inc.’s holdings in NetEase were worth $393,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. 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 acquiring an additional 283 shares in the last quarter. SYSTM Wealth Solutions LLC raised its stake in shares of NetEase by 55.5% during the second quarter. SYSTM Wealth Solutions LLC now owns 328 shares of the technology company’s stock worth $31,000 after acquiring an additional 117 shares in the last quarter. Ariadne Wealth Management LP purchased a new position in shares of NetEase during the second quarter worth approximately $35,000. Highline Wealth Partners LLC purchased a new position in shares of NetEase during the third quarter worth approximately $45,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of NetEase in the third quarter worth $76,000. 11.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NTES has been the topic of several analyst reports. Citigroup lifted their target price on shares of NetEase from $108.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Benchmark cut their price target on shares of NetEase from $120.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, November 15th. Barclays cut their price target on shares of NetEase from $104.00 to $82.00 and set an “equal weight” rating on the stock in a report on Monday, August 26th. Bank of America cut their price target on shares of NetEase from $142.00 to $120.00 and set a “buy” rating on the stock in a report on Friday, August 23rd. Finally, Jefferies Financial Group cut their price target on shares of NetEase from $126.00 to $103.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $107.29.

NetEase Trading Up 1.6 %

Shares of NTES stock opened at $87.48 on Friday. NetEase, Inc. has a 12 month low of $75.85 and a 12 month high of $114.50. The stock has a market cap of $56.18 billion, a PE ratio of 14.78, a price-to-earnings-growth ratio of 3.20 and a beta of 0.57. The company’s fifty day moving average price is $85.61 and its 200-day moving average price is $88.23.

NetEase Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.435 per share. This represents a $1.74 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend is Friday, November 29th. NetEase’s dividend payout ratio (DPR) is presently 29.22%.

NetEase Company 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.