Bank of New York Mellon Corp Cuts Stock Holdings in NetEase, Inc. (NASDAQ:NTES)

Bank of New York Mellon Corp reduced its stake in NetEase, Inc. (NASDAQ:NTES) 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 (NASDAQ:NTES) last released its quarterly earnings results on Thursday, August 22nd. The technology company reported $12.05 EPS for the quarter, topping the consensus estimate of $1.62 by $10.43. The company had revenue of $25.49 billion for the quarter, compared to analyst estimates of $26.01 billion. NetEase had a return on equity of 22.30% and a net margin of 26.98%. The firm’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.75 earnings per share. On average, equities research analysts forecast that NetEase, Inc. will post 6.05 EPS for the current fiscal year.

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.

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.