Massachusetts Financial Services Co. MA Trims Stake in NetEase, Inc. $NTES

Massachusetts Financial Services Co. MA lessened its position in NetEase, Inc. (NASDAQ:NTES) by 16.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,251,145 shares of the technology company’s stock after selling 251,757 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.20% of NetEase worth $190,162,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in NTES. NewSquare Capital LLC grew its stake in NetEase by 137.2% in the second quarter. NewSquare Capital LLC now owns 185 shares of the technology company’s stock worth $25,000 after purchasing an additional 107 shares during the period. Private Trust Co. NA boosted its holdings in shares of NetEase by 266.0% during the 2nd quarter. Private Trust Co. NA now owns 194 shares of the technology company’s stock valued at $26,000 after buying an additional 141 shares in the last quarter. USA Financial Formulas bought a new stake in shares of NetEase during the 2nd quarter valued at $30,000. Richardson Financial Services Inc. purchased a new stake in shares of NetEase in the 2nd quarter worth about $33,000. Finally, Spire Wealth Management increased its stake in shares of NetEase by 159.6% in the 2nd quarter. Spire Wealth Management now owns 257 shares of the technology company’s stock worth $35,000 after acquiring an additional 158 shares in the last quarter. 11.07% of the stock is currently owned by institutional investors.

NetEase Stock Up 1.4%

Shares of NASDAQ NTES opened at $137.97 on Tuesday. The firm has a market cap of $87.42 billion, a P/E ratio of 17.62, a PEG ratio of 1.54 and a beta of 0.67. NetEase, Inc. has a twelve month low of $88.54 and a twelve month high of $159.55. The company has a 50 day moving average of $139.08 and a 200 day moving average of $139.97.

NetEase Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Friday, December 5th. NetEase’s dividend payout ratio is presently 28.99%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on NTES. Benchmark boosted their price objective on shares of NetEase from $145.00 to $158.00 and gave the stock a “buy” rating in a research note on Friday, November 21st. JPMorgan Chase & Co. raised NetEase from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $138.00 to $190.00 in a research report on Friday, October 10th. Weiss Ratings restated a “hold (c)” rating on shares of NetEase in a research note on Monday, December 22nd. Barclays set a $135.00 price objective on NetEase and gave the company an “equal weight” rating in a research note on Friday, November 21st. Finally, Citigroup reissued a “buy” rating on shares of NetEase in a research note on Friday, November 21st. Seven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $156.13.

NetEase Company Profile

NetEase, Inc (NASDAQ: NTES) is a Chinese technology company headquartered in Hangzhou that develops and operates Internet services and products. Founded in 1997 by William Ding (Ding Lei), the company has grown from an early web portal and e-mail provider into a diversified online services group. William Ding has served as the company’s founder and long-time leader, guiding its expansion into games, digital content and consumer services.

The company’s primary business is interactive entertainment: NetEase Games designs, develops and publishes PC and mobile games for domestic and international audiences, offering a mix of self-developed franchises and titles published under licensing and strategic partnerships.