Rhumbline Advisers Sells 1,966 Shares of NetEase, Inc. (NASDAQ:NTES)

Rhumbline Advisers cut its holdings in NetEase, Inc. (NASDAQ:NTES) by 4.4% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 42,839 shares of the technology company’s stock after selling 1,966 shares during the quarter. Rhumbline Advisers’ holdings in NetEase were worth $4,095,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NTES. Mather Group LLC. increased its stake in shares of NetEase by 1,415.0% in the second quarter. Mather Group LLC. now owns 303 shares of the technology company’s stock valued at $31,000 after buying an additional 283 shares in the last quarter. UMB Bank n.a. acquired a new stake in shares of NetEase in the first quarter valued at $50,000. ORG Partners LLC acquired a new stake in shares of NetEase in the first quarter valued at $50,000. AdvisorNet Financial Inc increased its stake in shares of NetEase by 39.6% in the second quarter. AdvisorNet Financial Inc now owns 1,400 shares of the technology company’s stock valued at $134,000 after buying an additional 397 shares in the last quarter. Finally, Mendota Financial Group LLC increased its stake in shares of NetEase by 9.2% in the first quarter. Mendota Financial Group LLC now owns 1,508 shares of the technology company’s stock valued at $156,000 after buying an additional 127 shares in the last quarter. 11.07% of the stock is currently owned by institutional investors and hedge funds.

NetEase Trading Down 0.7 %

Shares of NTES opened at $76.78 on Tuesday. NetEase, Inc. has a 1 year low of $75.85 and a 1 year high of $118.89. The stock has a market cap of $49.30 billion, a P/E ratio of 11.90, a price-to-earnings-growth ratio of 1.72 and a beta of 0.54. The stock’s 50-day moving average price is $87.02 and its two-hundred day moving average price is $93.83.

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

NetEase Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be issued a dividend of $0.435 per share. This represents a $1.74 annualized dividend and a dividend yield of 2.27%. The ex-dividend date of this dividend is Friday, September 6th. NetEase’s dividend payout ratio (DPR) is presently 26.82%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on NTES. Bank of America lowered their target price on NetEase from $142.00 to $120.00 and set a “buy” rating for the company in a research note on Friday, August 23rd. StockNews.com lowered NetEase from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 20th. Jefferies Financial Group lowered 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. Morgan Stanley reiterated an “equal weight” rating and issued a $100.00 price objective on shares of NetEase in a research report on Friday, July 5th. Finally, Benchmark lifted their price objective on NetEase from $144.00 to $145.00 and gave the stock a “buy” rating in a research report on Friday, May 24th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, NetEase currently has an average rating of “Moderate Buy” and an average target price 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.