NetEase, Inc. (NASDAQ:NTES) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. decreased its holdings in shares of NetEase, Inc. (NASDAQ:NTESFree Report) by 13.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,362 shares of the technology company’s stock after selling 1,345 shares during the quarter. PNC Financial Services Group Inc.’s holdings in NetEase were worth $779,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in NTES. WT Asset Management Ltd lifted its stake in NetEase by 381.1% during the fourth quarter. WT Asset Management Ltd now owns 996,686 shares of the technology company’s stock worth $92,851,000 after purchasing an additional 789,499 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in NetEase by 451.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 511,454 shares of the technology company’s stock worth $47,647,000 after purchasing an additional 418,677 shares during the last quarter. National Bank of Canada FI lifted its stake in NetEase by 6,493.3% during the fourth quarter. National Bank of Canada FI now owns 321,884 shares of the technology company’s stock worth $29,764,000 after purchasing an additional 317,002 shares during the last quarter. Monolith Management Ltd purchased a new stake in NetEase during the fourth quarter worth approximately $17,328,000. Finally, Qube Research & Technologies Ltd purchased a new stake in NetEase during the third quarter worth approximately $12,017,000. Hedge funds and other institutional investors own 11.07% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Benchmark boosted their target price on NetEase from $144.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, May 24th. HSBC reduced their price objective on NetEase from $130.00 to $126.00 and set a “buy” rating for the company in a research note on Wednesday, April 24th. StockNews.com cut NetEase from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 16th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $100.00 target price (down previously from $120.00) on shares of NetEase in a report on Thursday, May 23rd. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, NetEase currently has an average rating of “Moderate Buy” and a consensus target price of $125.71.

Get Our Latest Stock Report on NTES

NetEase Trading Down 1.8 %

NASDAQ:NTES opened at $89.03 on Friday. The firm has a market cap of $57.17 billion, a P/E ratio of 13.80, a PEG ratio of 1.69 and a beta of 0.58. The stock’s 50 day simple moving average is $96.86 and its 200-day simple moving average is $101.10. NetEase, Inc. has a 12-month low of $81.30 and a 12-month high of $118.89.

NetEase (NASDAQ:NTESGet Free Report) last announced its quarterly earnings data on Thursday, May 23rd. The technology company reported $1.63 earnings per share for the quarter, missing analysts’ consensus estimates of $1.68 by ($0.05). NetEase had a return on equity of 24.19% and a net margin of 28.75%. The business had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.61 billion. Research analysts forecast that NetEase, Inc. will post 7.06 EPS for the current fiscal year.

NetEase Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Thursday, June 6th will be issued a dividend of $0.495 per share. This represents a $1.98 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend is Thursday, June 6th. NetEase’s dividend payout ratio is presently 66.82%.

NetEase Profile

(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.

See Also

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Institutional Ownership by Quarter for NetEase (NASDAQ:NTES)

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