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

American Century Companies Inc. cut its position in NetEase, Inc. (NASDAQ:NTES) by 1.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 452,813 shares of the technology company’s stock after selling 5,916 shares during the quarter. American Century Companies Inc. owned 0.07% of NetEase worth $43,280,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. BNP Paribas Financial Markets raised its holdings in NetEase by 64.5% in the 4th 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 last quarter. Jump Financial LLC acquired a new position in shares of NetEase during the fourth quarter worth $432,000. Envestnet Portfolio Solutions Inc. bought a new stake in shares of NetEase in the fourth quarter worth $250,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in NetEase by 104.6% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,380 shares of the technology company’s stock valued at $614,000 after purchasing an additional 3,262 shares during the period. Finally, Vanguard Personalized Indexing Management LLC raised its position in NetEase by 10.2% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 5,324 shares of the technology company’s stock worth $496,000 after purchasing an additional 491 shares during the last quarter. 11.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

NetEase Stock Performance

Shares of NASDAQ:NTES opened at $76.78 on Tuesday. The firm has a market cap of $49.30 billion, a P/E ratio of 11.90, a PEG ratio of 1.72 and a beta of 0.54. The business’s 50 day simple moving average is $87.02 and its two-hundred day simple moving average is $93.83. NetEase, Inc. has a 52-week low of $75.85 and a 52-week high of $118.89.

NetEase (NASDAQ:NTES) last released its quarterly earnings results on Thursday, August 22nd. The technology company reported $12.05 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $26.01 billion. During the same period in the previous year, the company earned $1.75 earnings per share. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. On average, equities analysts forecast that NetEase, Inc. will post 6.05 earnings per share for the current fiscal year.

NetEase Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be given a dividend of $0.435 per share. This represents a $1.74 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date is Friday, September 6th. NetEase’s payout ratio is 26.82%.

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.