Barclays PLC Sells 9,189 Shares of NetEase, Inc. (NASDAQ:NTES)

Barclays PLC reduced its stake in NetEase, Inc. (NASDAQ:NTES) by 19.9% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 37,063 shares of the technology company’s stock after selling 9,189 shares during the period. Barclays PLC’s holdings in NetEase were worth $3,465,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Raymond James & Associates grew its stake in NetEase by 20.5% in the second quarter. Raymond James & Associates now owns 25,823 shares of the technology company’s stock valued at $2,468,000 after acquiring an additional 4,395 shares during the period. Financial Advocates Investment Management acquired a new position in shares of NetEase in the 2nd quarter valued at approximately $421,000. Ridgewood Investments LLC increased its stake in NetEase by 25.2% during the 2nd quarter. Ridgewood Investments LLC now owns 5,535 shares of the technology company’s stock worth $529,000 after purchasing an additional 1,114 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in NetEase by 6.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,508 shares of the technology company’s stock worth $813,000 after buying an additional 506 shares during the period. Finally, Banque Cantonale Vaudoise lifted its stake in NetEase by 281.5% in the second quarter. Banque Cantonale Vaudoise now owns 16,093 shares of the technology company’s stock valued at $1,538,000 after buying an additional 11,875 shares in the last quarter. 11.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on NTES. Benchmark cut their price objective on shares of NetEase from $120.00 to $105.00 and set a “buy” rating on the stock in a research report on Friday, November 15th. Citigroup boosted their price target on NetEase from $108.00 to $115.00 and gave the company a “buy” rating in a report on Friday, November 15th. StockNews.com downgraded NetEase from a “strong-buy” rating to a “buy” rating in a report on Friday, December 6th. Finally, Barclays cut their target price on NetEase from $104.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Monday, August 26th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, NetEase presently has an average rating of “Moderate Buy” and an average price target of $107.29.

NetEase Stock Performance

Shares of NTES stock opened at $92.37 on Tuesday. NetEase, Inc. has a fifty-two week low of $75.85 and a fifty-two week high of $114.50. The stock’s fifty day moving average price is $85.66 and its two-hundred day moving average price is $87.95. The company has a market cap of $59.32 billion, a PE ratio of 15.60, a P/E/G ratio of 3.53 and a beta of 0.57.

NetEase Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were issued a dividend of $0.435 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.74 annualized dividend and a dividend yield of 1.88%. NetEase’s dividend payout ratio (DPR) is presently 29.22%.

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.