NetEase, Inc. (NASDAQ:NTES) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB lessened its holdings in NetEase, Inc. (NASDAQ:NTES) by 10.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 467,220 shares of the technology company’s stock after selling 56,000 shares during the quarter. Handelsbanken Fonder AB owned about 0.07% of NetEase worth $43,690,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of NTES. Mather Group LLC. increased its stake in shares of NetEase by 1,415.0% in the second quarter. Mather Group LLC. now owns 303 shares of the technology company’s stock worth $31,000 after acquiring an additional 283 shares during the period. SYSTM Wealth Solutions LLC boosted its holdings in NetEase by 55.5% in the second 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 last quarter. Ariadne Wealth Management LP acquired a new stake in NetEase during the 2nd quarter worth about $35,000. UMB Bank n.a. purchased a new position in shares of NetEase during the 1st quarter valued at about $50,000. Finally, ORG Partners LLC purchased a new position in shares of NetEase during the 1st quarter valued at about $50,000. Institutional investors and hedge funds own 11.07% of the company’s stock.

NetEase Trading Up 0.9 %

NTES traded up $0.87 on Friday, hitting $102.33. 1,440,297 shares of the company’s stock were exchanged, compared to its average volume of 1,755,953. NetEase, Inc. has a fifty-two week low of $75.85 and a fifty-two week high of $118.89. The stock has a market cap of $65.71 billion, a price-to-earnings ratio of 15.87, a P/E/G ratio of 1.78 and a beta of 0.55. The firm has a 50-day moving average price of $85.98 and a 200-day moving average price of $92.17.

NetEase (NASDAQ:NTES) last issued its earnings results on Thursday, August 22nd. The technology company reported $12.05 earnings per share for the quarter, topping the consensus estimate of $1.62 by $10.43. NetEase had a return on equity of 22.30% and a net margin of 26.98%. The business had revenue of $25.49 billion for the quarter, compared to analysts’ expectations of $26.01 billion. During the same period in the previous year, the firm posted $1.75 EPS. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. On average, equities analysts predict that NetEase, Inc. will post 6.05 EPS for the current year.

NetEase Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were issued a $0.435 dividend. This represents a $1.74 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend was Friday, September 6th. NetEase’s payout ratio is currently 26.82%.

Analyst Upgrades and Downgrades

Several research firms recently commented on NTES. Bank of America dropped their target price on NetEase from $142.00 to $120.00 and set a “buy” rating on the stock in a report on Friday, August 23rd. StockNews.com cut shares of NetEase from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 20th. Jefferies Financial Group lowered their price target on shares of NetEase from $126.00 to $103.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Morgan Stanley reaffirmed an “equal weight” rating and issued a $100.00 price objective on shares of NetEase in a report on Friday, July 5th. Finally, Barclays lowered their price target on NetEase from $104.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Monday, August 26th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $112.67.

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.