Bleakley Financial Group LLC lessened its position in shares of NetEase, Inc. (NASDAQ:NTES – Free Report) by 4.4% during the 3rd quarter, Holdings Channel reports. The firm owned 4,146 shares of the technology company’s stock after selling 191 shares during the quarter. Bleakley Financial Group LLC’s holdings in NetEase were worth $388,000 as of its most recent filing with the SEC.
A number of other hedge funds have also modified their holdings of the company. Naviter Wealth LLC increased its holdings in NetEase by 28.4% in the 3rd quarter. Naviter Wealth LLC now owns 8,427 shares of the technology company’s stock worth $788,000 after buying an additional 1,865 shares during the period. Vontobel Holding Ltd. increased its stake in shares of NetEase by 154.4% in the third quarter. Vontobel Holding Ltd. now owns 72,220 shares of the technology company’s stock worth $6,753,000 after acquiring an additional 43,836 shares during the period. Willner & Heller LLC raised its holdings in shares of NetEase by 10.2% during the third quarter. Willner & Heller LLC now owns 3,952 shares of the technology company’s stock worth $370,000 after purchasing an additional 365 shares during the last quarter. Exchange Traded Concepts LLC lifted its position in NetEase by 1.7% during the third quarter. Exchange Traded Concepts LLC now owns 47,245 shares of the technology company’s stock valued at $4,418,000 after purchasing an additional 776 shares during the period. Finally, Guinness Asset Management LTD lifted its position in NetEase by 16.7% during the third quarter. Guinness Asset Management LTD now owns 86,741 shares of the technology company’s stock valued at $8,111,000 after purchasing an additional 12,410 shares during the period. 11.07% of the stock is owned by institutional investors and hedge funds.
NetEase Trading Down 0.3 %
Shares of NTES stock opened at $81.04 on Wednesday. NetEase, Inc. has a 12-month low of $75.85 and a 12-month high of $118.89. The business’s 50 day moving average is $85.09 and its two-hundred day moving average is $90.77. The company has a market capitalization of $52.04 billion, a P/E ratio of 12.56, a P/E/G ratio of 1.96 and a beta of 0.55.
NetEase Cuts Dividend
The business also recently announced 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. The ex-dividend date of this dividend was Friday, September 6th. This represents a $1.74 dividend on an annualized basis and a dividend yield of 2.15%. NetEase’s dividend payout ratio is currently 26.82%.
Analysts Set New Price Targets
Several equities research analysts have weighed in on the company. Barclays cut their price target 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 reiterated an “equal weight” rating and set a $100.00 price target on shares of NetEase in a research report on Friday, July 5th. StockNews.com downgraded NetEase from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 20th. Jefferies Financial Group dropped their price objective on shares of NetEase from $126.00 to $103.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Finally, Bank of America decreased their target price on shares of NetEase from $142.00 to $120.00 and set a “buy” rating for the company in a research note on Friday, August 23rd. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, NetEase currently has a consensus rating of “Moderate Buy” and an average price target of $112.67.
Check Out Our Latest Stock Analysis on NetEase
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.
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