American Century Companies Inc. Sells 5,916 Shares of NetEase, Inc. (NASDAQ:NTES)

American Century Companies Inc. cut its holdings in NetEase, Inc. (NASDAQ:NTES) by 1.3% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 452,813 shares of the technology company’s stock after selling 5,916 shares during the period. American Century Companies Inc.’s holdings in NetEase were worth $43,280,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of NTES. Sequoia Financial Advisors LLC boosted its holdings in shares of NetEase by 4.3% in the second quarter. Sequoia Financial Advisors LLC now owns 2,575 shares of the technology company’s stock worth $246,000 after acquiring an additional 107 shares during the period. Guinness Atkinson Asset Management Inc grew its holdings in NetEase by 0.7% during the 2nd 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 grew 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 valued at $156,000 after buying an additional 127 shares in the last quarter. Fifth Third Bancorp lifted its holdings in shares of NetEase by 1.9% in the second quarter. Fifth Third Bancorp now owns 7,658 shares of the technology company’s stock worth $732,000 after buying an additional 146 shares in the last quarter. Finally, Mather Group LLC. boosted its position 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 acquiring an additional 283 shares during the period. 11.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on NTES shares. Jefferies Financial Group decreased their target price 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. Bank of America lowered their price objective 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 restated an “equal weight” rating and set a $100.00 target price on shares of NetEase in a research report on Friday, July 5th. StockNews.com cut NetEase from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 20th. Finally, Benchmark boosted their price objective on NetEase from $144.00 to $145.00 and gave the stock a “buy” rating in a report on Friday, May 24th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $112.67.

NetEase Stock Down 0.7 %

NASDAQ NTES opened at $76.78 on Tuesday. The stock’s 50-day simple moving average is $87.02 and its two-hundred day simple moving average is $93.83. NetEase, Inc. has a twelve month low of $75.85 and a twelve month high of $118.89. The company has a market capitalization of $49.30 billion, a price-to-earnings ratio of 11.90, a PEG ratio of 1.72 and a beta of 0.54.

NetEase (NASDAQ:NTES) last released its earnings results on Thursday, August 22nd. The technology company reported $12.05 earnings per share 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 company had revenue of $25.49 billion during the quarter, compared to the consensus estimate of $26.01 billion. During the same quarter in the previous year, the company posted $1.75 EPS. NetEase’s quarterly revenue was up 6.1% compared to the same quarter last year. On average, equities analysts expect that NetEase, Inc. will post 6.05 earnings per share for the current fiscal 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 paid a $0.435 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $1.74 dividend on an annualized basis and a dividend yield of 2.27%. NetEase’s dividend payout ratio (DPR) is 26.82%.

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.