Bank of New York Mellon Corp Sells 410 Shares of NetEase, Inc. (NASDAQ:NTES)

Bank of New York Mellon Corp decreased its holdings in shares of NetEase, Inc. (NASDAQ:NTES) by 4.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,731 shares of the technology company’s stock after selling 410 shares during the quarter. Bank of New York Mellon Corp’s holdings in NetEase were worth $868,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of NTES. UMB Bank n.a. lifted its holdings in NetEase by 33.3% during the fourth quarter. UMB Bank n.a. now owns 444 shares of the technology company’s stock worth $40,000 after buying an additional 111 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its position in shares of NetEase by 1.6% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,190 shares of the technology company’s stock worth $641,000 after acquiring an additional 114 shares in the last quarter. Brighton Jones LLC lifted its stake in shares of NetEase by 1.1% during the 4th quarter. Brighton Jones LLC now owns 10,297 shares of the technology company’s stock worth $919,000 after purchasing an additional 117 shares during the last quarter. State Street Corp boosted its position in NetEase by 0.3% during the third quarter. State Street Corp now owns 56,729 shares of the technology company’s stock valued at $5,305,000 after purchasing an additional 156 shares in the last quarter. Finally, Euro Pacific Asset Management LLC grew its stake in NetEase by 1.3% in the fourth quarter. Euro Pacific Asset Management LLC now owns 13,137 shares of the technology company’s stock valued at $1,172,000 after purchasing an additional 173 shares during the last quarter. 11.07% of the stock is currently owned by hedge funds and other institutional investors.

NetEase Stock Performance

Shares of NTES opened at $99.74 on Wednesday. The stock has a 50-day moving average of $102.04 and a two-hundred day moving average of $92.29. The stock has a market cap of $64.05 billion, a P/E ratio of 15.66, a P/E/G ratio of 3.37 and a beta of 0.61. NetEase, Inc. has a one year low of $75.85 and a one year high of $110.15.

NetEase (NASDAQ:NTES) last released its earnings results on Thursday, February 20th. The technology company reported $1.87 EPS for the quarter, topping analysts’ consensus estimates of $1.73 by $0.14. The firm had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $27.16 billion. NetEase had a return on equity of 22.12% and a net margin of 28.17%. Analysts predict that NetEase, Inc. will post 6.91 EPS for the current fiscal year.

NetEase Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th were issued a $0.435 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $1.74 dividend on an annualized basis and a yield of 1.74%. NetEase’s payout ratio is 76.45%.

Wall Street Analysts Forecast Growth

Several analysts have commented on NTES shares. 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 research report on Wednesday, January 15th. Benchmark increased their target price on shares of NetEase from $105.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Barclays lifted their price target on shares of NetEase from $82.00 to $104.00 and gave the stock an “equal weight” rating in a report on Monday, February 24th. Morgan Stanley increased their price objective on NetEase from $108.00 to $117.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Finally, StockNews.com downgraded NetEase from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 6th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $114.57.

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.