Mirae Asset Global Investments Co. Ltd. Has $3.49 Million Position in NetEase, Inc. (NASDAQ:NTES)

Mirae Asset Global Investments Co. Ltd. reduced its stake in shares of NetEase, Inc. (NASDAQ:NTES) by 24.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 37,267 shares of the technology company’s stock after selling 11,978 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in NetEase were worth $3,486,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in NTES. Massachusetts Financial Services Co. MA raised its position in NetEase by 6.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,692,705 shares of the technology company’s stock valued at $161,789,000 after acquiring an additional 103,102 shares in the last quarter. Point72 Hong Kong Ltd raised its position in NetEase by 109.0% during the second quarter. Point72 Hong Kong Ltd now owns 1,213,323 shares of the technology company’s stock valued at $115,969,000 after acquiring an additional 632,896 shares in the last quarter. Capital International Investors raised its position in NetEase by 1.1% during the first quarter. Capital International Investors now owns 1,052,966 shares of the technology company’s stock valued at $108,950,000 after acquiring an additional 11,729 shares in the last quarter. Price T Rowe Associates Inc. MD bought a new position in NetEase during the first quarter valued at approximately $103,658,000. Finally, Lazard Asset Management LLC raised its position in NetEase by 804.5% during the first quarter. Lazard Asset Management LLC now owns 792,357 shares of the technology company’s stock valued at $81,983,000 after acquiring an additional 704,753 shares in the last quarter. 11.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently weighed in on NTES. Barclays cut their price objective on shares of 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 reaffirmed an “equal weight” rating and set a $100.00 price objective on shares of NetEase in a research report on Friday, July 5th. Bank of America dropped their price target on shares of NetEase from $142.00 to $120.00 and set a “buy” rating on the stock in a research report on Friday, August 23rd. StockNews.com lowered shares of NetEase from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 20th. Finally, Jefferies Financial Group dropped their price target on shares of NetEase from $126.00 to $103.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $112.67.

NetEase Trading Up 1.5 %

Shares of NTES stock opened at $82.32 on Wednesday. NetEase, Inc. has a 1 year low of $75.85 and a 1 year high of $118.89. The firm’s fifty day simple moving average is $84.12 and its 200 day simple moving average is $90.18. The firm has a market capitalization of $52.86 billion, a P/E ratio of 13.43, a price-to-earnings-growth ratio of 1.76 and a beta of 0.55.

NetEase (NASDAQ:NTES) last announced 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 net margin of 26.98% and a return on equity of 22.30%. The business had revenue of $25.49 billion for the quarter, compared to analyst estimates of $26.01 billion. During the same quarter in the previous year, the firm posted $1.75 earnings per share. NetEase’s revenue was up 6.1% compared to the same quarter last year. Equities research analysts anticipate that NetEase, Inc. will post 6.05 EPS for the current fiscal year.

NetEase Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were given a dividend of $0.435 per share. This represents a $1.74 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend was Friday, September 6th. NetEase’s dividend payout ratio (DPR) is currently 28.22%.

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.