Rhumbline Advisers Sells 8,459 Shares of NetEase, Inc. $NTES

Rhumbline Advisers decreased its stake in shares of NetEase, Inc. (NASDAQ:NTES) by 22.4% in the first quarter, according to the company in 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 quarter. Rhumbline Advisers’ holdings in NetEase were worth $3,009,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Brighton Jones LLC boosted its position in shares of NetEase by 1.1% during the fourth quarter. Brighton Jones LLC now owns 10,297 shares of the technology company’s stock worth $919,000 after acquiring an additional 117 shares during the last quarter. Concurrent Investment Advisors LLC raised its stake in NetEase by 5.4% during the first quarter. Concurrent Investment Advisors LLC now owns 2,569 shares of the technology company’s stock valued at $264,000 after purchasing an additional 132 shares in the last quarter. Fifth Third Bancorp raised its stake in NetEase by 2.7% during the first quarter. Fifth Third Bancorp now owns 5,264 shares of the technology company’s stock valued at $542,000 after purchasing an additional 138 shares in the last quarter. Hardy Reed LLC raised its stake in NetEase by 1.7% during the first quarter. Hardy Reed LLC now owns 8,394 shares of the technology company’s stock valued at $864,000 after purchasing an additional 139 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in NetEase by 1.6% during the first quarter. Bank of New York Mellon Corp now owns 9,884 shares of the technology company’s stock valued at $1,017,000 after purchasing an additional 153 shares in the last quarter. Institutional investors own 11.07% of the company’s stock.

NetEase Trading Up 1.3%

Shares of NTES opened at $154.83 on Tuesday. The company’s fifty day simple moving average is $134.62 and its 200-day simple moving average is $120.21. The company has a market cap of $98.10 billion, a P/E ratio of 20.95, a P/E/G ratio of 2.04 and a beta of 0.67. NetEase, Inc. has a twelve month low of $75.88 and a twelve month high of $155.74.

NetEase Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 11th. Stockholders of record on Thursday, August 28th were issued a $0.675 dividend. The ex-dividend date was Thursday, August 28th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 1.7%. NetEase’s dividend payout ratio is presently 30.72%.

Analyst Ratings Changes

NTES has been the topic of a number of recent research reports. The Goldman Sachs Group set a $161.00 price target on shares of NetEase and gave the company a “buy” rating in a research note on Monday. Zacks Research downgraded shares of NetEase from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 15th. Arete Research raised shares of NetEase to a “strong-buy” rating in a research note on Wednesday, September 3rd. Barclays set a $120.00 price target on shares of NetEase and gave the company an “equal weight” rating in a research note on Monday, August 18th. Finally, Arete raised shares of NetEase from a “sell” rating to a “buy” rating and set a $150.00 price target on the stock in a research note on Wednesday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $132.00.

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.