Rhumbline Advisers Sells 1,179 Shares of NetEase, Inc. (NASDAQ:NTES)

Rhumbline Advisers lowered its position in NetEase, Inc. (NASDAQ:NTES) by 3.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 37,691 shares of the technology company’s stock after selling 1,179 shares during the period. Rhumbline Advisers’ holdings in NetEase were worth $3,362,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Assetmark Inc. grew its holdings in shares of NetEase by 27.3% in the 3rd quarter. Assetmark Inc. now owns 38,469 shares of the technology company’s stock valued at $3,597,000 after buying an additional 8,248 shares during the period. WT Asset Management Ltd acquired a new position in NetEase in the 4th quarter worth $2,624,000. SG Americas Securities LLC bought a new stake in NetEase during the 4th quarter worth about $654,000. State of New Jersey Common Pension Fund D lifted its position in NetEase by 87.0% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 75,282 shares of the technology company’s stock worth $7,040,000 after buying an additional 35,031 shares in the last quarter. Finally, APEIRON CAPITAL Ltd lifted its position in NetEase by 20.5% during the 4th quarter. APEIRON CAPITAL Ltd now owns 129,321 shares of the technology company’s stock worth $11,537,000 after buying an additional 22,000 shares in the last quarter. Institutional investors own 11.07% of the company’s stock.

NetEase Price Performance

Shares of NetEase stock opened at $99.72 on Friday. NetEase, Inc. has a one year low of $75.85 and a one year high of $113.50. The stock has a market capitalization of $64.04 billion, a P/E ratio of 15.65, a price-to-earnings-growth ratio of 3.37 and a beta of 0.58. The business’s 50 day simple moving average is $98.52 and its two-hundred day simple moving average is $90.14.

NetEase (NASDAQ:NTES) last issued its quarterly earnings data on Thursday, February 20th. The technology company reported $1.87 earnings per share for the quarter, topping analysts’ consensus estimates of $1.73 by $0.14. NetEase had a return on equity of 22.12% and a net margin of 28.17%. The firm had revenue of $3.66 billion for the quarter, compared to analyst estimates of $27.16 billion. Sell-side analysts expect that NetEase, Inc. will post 6.91 earnings per share for the current fiscal year.

NetEase Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th will be issued a dividend of $0.435 per share. This represents a $1.74 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date is Thursday, March 6th. NetEase’s payout ratio is presently 76.45%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on NTES shares. StockNews.com cut shares of NetEase from a “strong-buy” rating to a “buy” rating in a report on Friday, December 6th. Bank of America increased their price target on shares of NetEase from $120.00 to $122.00 and gave the company a “buy” rating in a report on Wednesday, January 15th. Morgan Stanley increased their price target on shares of NetEase from $108.00 to $117.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Citigroup increased their price target on shares of NetEase from $108.00 to $115.00 and gave the company a “buy” rating in a report on Friday, November 15th. Finally, Benchmark increased their target price on shares of NetEase from $105.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $114.57.

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.