Daiwa Securities Group Inc. Lowers Position in NetEase, Inc. (NASDAQ:NTES)

Daiwa Securities Group Inc. trimmed its position in shares of NetEase, Inc. (NASDAQ:NTES) by 5.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,348 shares of the technology company’s stock after selling 400 shares during the quarter. Daiwa Securities Group Inc.’s holdings in NetEase were worth $702,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Victory Capital Management Inc. boosted its position in shares of NetEase by 301.6% during the fourth quarter. Victory Capital Management Inc. now owns 15,749 shares of the technology company’s stock valued at $1,467,000 after purchasing an additional 11,827 shares in the last quarter. BNP Paribas Financial Markets lifted its position in NetEase by 64.5% during the fourth quarter. BNP Paribas Financial Markets now owns 56,809 shares of the technology company’s stock valued at $5,292,000 after buying an additional 22,268 shares during the period. Jump Financial LLC bought a new stake in shares of NetEase during the 4th quarter valued at $432,000. QRG Capital Management Inc. grew its position in shares of NetEase by 16.8% in the 4th quarter. QRG Capital Management Inc. now owns 6,144 shares of the technology company’s stock worth $572,000 after buying an additional 883 shares during the period. Finally, Envestnet Portfolio Solutions Inc. bought a new position in shares of NetEase in the 4th quarter worth about $250,000. Hedge funds and other institutional investors own 11.07% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on NTES shares. 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 report on Monday, August 26th. Jefferies Financial Group reduced 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. Bank of America dropped their target price on NetEase from $142.00 to $120.00 and set a “buy” rating on the stock in a report on Friday, August 23rd. StockNews.com downgraded NetEase from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 20th. Finally, Benchmark upped their price target on shares of NetEase from $144.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, May 24th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $112.67.

NetEase Price Performance

Shares of NASDAQ:NTES opened at $77.32 on Monday. NetEase, Inc. has a 1 year low of $75.85 and a 1 year high of $118.89. The company has a market cap of $49.65 billion, a P/E ratio of 11.99, a PEG ratio of 1.72 and a beta of 0.54. The stock’s fifty day moving average price is $87.32 and its 200-day moving average price is $94.05.

NetEase (NASDAQ:NTES) last posted its earnings results on Thursday, August 22nd. The technology company reported $12.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $10.43. The business had revenue of $25.49 billion for the quarter, compared to analysts’ expectations of $26.01 billion. NetEase had a net margin of 26.98% and a return on equity of 22.30%. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.75 EPS. On average, sell-side analysts anticipate that NetEase, Inc. will post 6.05 earnings per share for the current year.

NetEase Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be issued a $0.435 dividend. This represents a $1.74 annualized dividend and a yield of 2.25%. The ex-dividend date is Friday, September 6th. NetEase’s dividend payout ratio is currently 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.