Bank of New York Mellon Corp reduced its stake in NetEase, Inc. (NASDAQ:NTES – Free Report) by 5.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,545 shares of the technology company’s stock after selling 536 shares during the period. Bank of New York Mellon Corp’s holdings in NetEase were worth $912,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of NTES. Mather Group LLC. raised its position in NetEase by 1,415.0% in the 2nd quarter. Mather Group LLC. now owns 303 shares of the technology company’s stock valued at $31,000 after purchasing an additional 283 shares in the last quarter. UMB Bank n.a. acquired a new stake in NetEase in the first quarter valued at approximately $50,000. ORG Partners LLC purchased a new position in NetEase in the first quarter worth approximately $50,000. AdvisorNet Financial Inc grew its holdings in NetEase by 39.6% during the 2nd quarter. AdvisorNet Financial Inc now owns 1,400 shares of the technology company’s stock worth $134,000 after acquiring an additional 397 shares in the last quarter. Finally, Mendota Financial Group LLC increased its position in shares of NetEase by 9.2% in the 1st quarter. Mendota Financial Group LLC now owns 1,508 shares of the technology company’s stock valued at $156,000 after purchasing an additional 127 shares during the last quarter. 11.07% of the stock is currently owned by hedge funds and other institutional investors.
NetEase Stock Performance
NTES opened at $78.90 on Friday. NetEase, Inc. has a one year low of $75.85 and a one year high of $118.89. The stock has a market capitalization of $50.67 billion, a P/E ratio of 12.23, a price-to-earnings-growth ratio of 1.72 and a beta of 0.54. The business’s 50-day simple moving average is $85.89 and its 200-day simple moving average is $93.08.
NetEase Cuts Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were given a $0.435 dividend. The ex-dividend date was Friday, September 6th. This represents a $1.74 annualized dividend and a yield of 2.21%. NetEase’s dividend payout ratio (DPR) is 26.82%.
Wall Street Analyst Weigh In
NTES has been the subject of several recent analyst reports. Jefferies Financial Group decreased their price objective on shares of NetEase from $126.00 to $103.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Morgan Stanley reaffirmed an “equal weight” rating and set a $100.00 price target on shares of NetEase in a report on Friday, July 5th. Bank of America dropped their price objective on NetEase from $142.00 to $120.00 and set a “buy” rating on the stock in a report on Friday, August 23rd. Barclays decreased their target price on NetEase from $104.00 to $82.00 and set an “equal weight” rating for the company in a research note on Monday, August 26th. Finally, StockNews.com downgraded NetEase from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 20th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, NetEase has an average rating of “Moderate Buy” and a consensus price target of $112.67.
Read Our Latest Research Report on NTES
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.
Read More
- Five stocks we like better than NetEase
- The Top 3 Healthcare Dividend Stocks to Buy and Hold
- Take Advantage of Village Farms Stock as Cannabis Market Evolves
- What Does a Stock Split Mean?
- MarketBeat Week in Review – 9/16 – 9/20
- 3 Tickers Leading a Meme Stock Revival
- Don’t Miss These 3 Retail Stocks for Fall Gains
Receive News & Ratings for NetEase Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NetEase and related companies with MarketBeat.com's FREE daily email newsletter.