Geode Capital Management LLC Sells 160 Shares of NetEase, Inc. (NASDAQ:NTES)

Geode Capital Management LLC lowered its position in shares of NetEase, Inc. (NASDAQ:NTES) by 0.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 104,433 shares of the technology company’s stock after selling 160 shares during the period. Geode Capital Management LLC’s holdings in NetEase were worth $9,766,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. SYSTM Wealth Solutions LLC increased its position in NetEase by 55.5% during the 2nd quarter. SYSTM Wealth Solutions LLC now owns 328 shares of the technology company’s stock valued at $31,000 after purchasing an additional 117 shares during the period. Ariadne Wealth Management LP bought a new position in shares of NetEase during the second quarter valued at approximately $35,000. Highline Wealth Partners LLC purchased a new position in NetEase during the third quarter valued at approximately $45,000. RPg Family Wealth Advisory LLC bought a new position in NetEase in the third quarter worth approximately $70,000. Finally, Allspring Global Investments Holdings LLC bought a new position in NetEase in the third quarter worth approximately $76,000. 11.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

NTES has been the topic of a number of analyst reports. Citigroup lifted 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. Benchmark dropped their price objective on NetEase from $120.00 to $105.00 and set a “buy” rating on the stock in a research report on Friday, November 15th. Finally, StockNews.com downgraded shares of NetEase from a “strong-buy” rating to a “buy” rating in a report on Friday, December 6th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $107.29.

NetEase Price Performance

Shares of NASDAQ:NTES opened at $89.21 on Thursday. The business’s 50-day moving average is $87.15 and its 200 day moving average is $87.86. NetEase, Inc. has a 1 year low of $75.85 and a 1 year high of $114.50. The firm has a market capitalization of $57.29 billion, a P/E ratio of 15.07, a P/E/G ratio of 3.53 and a beta of 0.57.

NetEase Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were given a $0.435 dividend. This represents a $1.74 annualized dividend and a dividend yield of 1.95%. The ex-dividend date was Friday, November 29th. NetEase’s payout ratio is currently 29.22%.

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.