Rhumbline Advisers Trims Stock Holdings in NetEase, Inc. (NASDAQ:NTES)

Rhumbline Advisers lowered its holdings in NetEase, Inc. (NASDAQ:NTESFree Report) by 22.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 29,232 shares of the technology company’s stock after selling 8,459 shares during the period. Rhumbline Advisers’ holdings in NetEase were worth $3,009,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Brighton Jones LLC boosted its holdings in NetEase by 1.1% in the fourth quarter. Brighton Jones LLC now owns 10,297 shares of the technology company’s stock valued at $919,000 after purchasing an additional 117 shares during the last quarter. Farther Finance Advisors LLC raised its stake in NetEase by 81.7% during the fourth quarter. Farther Finance Advisors LLC now owns 338 shares of the technology company’s stock valued at $30,000 after buying an additional 152 shares in the last quarter. Polar Capital Holdings Plc raised its stake in NetEase by 11.1% during the fourth quarter. Polar Capital Holdings Plc now owns 2,397 shares of the technology company’s stock valued at $214,000 after buying an additional 240 shares in the last quarter. Cerity Partners LLC raised its stake in NetEase by 5.8% during the fourth quarter. Cerity Partners LLC now owns 5,837 shares of the technology company’s stock valued at $529,000 after buying an additional 318 shares in the last quarter. Finally, NewEdge Advisors LLC raised its stake in NetEase by 14.3% during the fourth quarter. NewEdge Advisors LLC now owns 3,850 shares of the technology company’s stock valued at $343,000 after buying an additional 481 shares in the last quarter. Hedge funds and other institutional investors own 11.07% of the company’s stock.

NetEase Trading Down 2.5%

Shares of NetEase stock opened at $129.38 on Monday. The business’s 50 day simple moving average is $112.32 and its 200-day simple moving average is $103.21. The stock has a market capitalization of $81.97 billion, a price-to-earnings ratio of 20.31, a PEG ratio of 3.37 and a beta of 0.67. NetEase, Inc. has a twelve month low of $75.85 and a twelve month high of $133.80.

NetEase Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were given a dividend of $0.675 per share. This represents a $2.70 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date of this dividend was Friday, May 30th. NetEase’s payout ratio is 38.71%.

Analysts Set New Price Targets

Several brokerages have issued reports on NTES. JPMorgan Chase & Co. upped their price objective on NetEase from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Monday, May 19th. Wall Street Zen upgraded NetEase from a “buy” rating to a “strong-buy” rating in a research note on Thursday, May 22nd. Benchmark upped their price objective on NetEase from $105.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Barclays upped their price objective on NetEase from $104.00 to $118.00 and gave the company an “equal weight” rating in a research note on Friday, May 16th. Finally, Deutsche Bank Aktiengesellschaft began coverage on NetEase in a research note on Monday, May 12th. They set a “buy” rating and a $130.00 price objective on the stock. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $119.38.

Read Our Latest Report on NTES

About NetEase

(Free Report)

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.

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Institutional Ownership by Quarter for NetEase (NASDAQ:NTES)

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