NetEase, Inc. (NASDAQ:NTES) Shares Sold by US Bancorp DE

US Bancorp DE lessened its holdings in NetEase, Inc. (NASDAQ:NTES) by 61.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,373 shares of the technology company’s stock after selling 10,096 shares during the quarter. US Bancorp DE’s holdings in NetEase were worth $596,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the business. Mather Group LLC. increased its holdings in shares of 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. SYSTM Wealth Solutions LLC grew its position in NetEase by 55.5% during the second quarter. SYSTM Wealth Solutions LLC now owns 328 shares of the technology company’s stock worth $31,000 after buying an additional 117 shares during the period. Ariadne Wealth Management LP purchased a new position in NetEase in the second quarter valued at about $35,000. Highline Wealth Partners LLC purchased a new stake in shares of NetEase during the 3rd quarter worth approximately $45,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in NetEase in the third quarter valued at $76,000. 11.07% of the stock is owned by institutional investors and hedge funds.

NetEase Stock Down 5.4 %

NTES opened at $76.76 on Monday. NetEase, Inc. has a 52-week low of $75.85 and a 52-week high of $118.89. The company has a 50 day moving average of $83.59 and a two-hundred day moving average of $89.49. The company has a market cap of $49.29 billion, a P/E ratio of 12.52, a P/E/G ratio of 1.70 and a beta of 0.57.

NetEase (NASDAQ:NTES) last announced its quarterly earnings results on Thursday, August 22nd. The technology company reported $12.05 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $25.49 billion during the quarter, compared to the consensus estimate of $26.01 billion. During the same period in the prior year, the firm earned $1.75 EPS. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. Research analysts anticipate that NetEase, Inc. will post 6.02 earnings per share for the current year.

NetEase Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were paid a dividend of $0.435 per share. This represents a $1.74 annualized dividend and a yield of 2.27%. The ex-dividend date of this dividend was Friday, September 6th. NetEase’s dividend payout ratio (DPR) is 28.22%.

Analyst Ratings Changes

A number of research firms have recently weighed in on NTES. Bank of America cut their price target on NetEase from $142.00 to $120.00 and set a “buy” rating for the company in a report on Friday, August 23rd. Barclays reduced their price target on NetEase from $104.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Monday, August 26th. StockNews.com downgraded NetEase from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 20th. Finally, Jefferies Financial Group decreased their price target on NetEase from $126.00 to $103.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently 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.