NetEase, Inc. (NASDAQ:NTES) Stock Position Reduced by Allianz Asset Management GmbH

Allianz Asset Management GmbH trimmed its position in shares of NetEase, Inc. (NASDAQ:NTES - Free Report) by 67.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,137 shares of the technology company's stock after selling 33,863 shares during the period. Allianz Asset Management GmbH's holdings in NetEase were worth $1,661,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NTES. Mather Group LLC. boosted its stake in NetEase by 1,415.0% during the 1st quarter. Mather Group LLC. now owns 303 shares of the technology company's stock valued at $31,000 after purchasing an additional 283 shares during the period. TD Private Client Wealth LLC acquired a new position in NetEase during the 1st quarter valued at about $65,000. Farther Finance Advisors LLC lifted its stake in shares of NetEase by 191.7% in the 1st quarter. Farther Finance Advisors LLC now owns 986 shares of the technology company's stock worth $105,000 after acquiring an additional 648 shares during the period. Toronto Dominion Bank acquired a new stake in shares of NetEase in the 4th quarter worth approximately $145,000. Finally, Bear Mountain Capital Inc. acquired a new stake in shares of NetEase in the 1st quarter worth approximately $194,000. 11.07% of the stock is owned by institutional investors and hedge funds.

NetEase Stock Down 2.3%

Shares of NTES stock traded down $2.99 during trading hours on Friday, reaching $127.31. 660,035 shares of the stock traded hands, compared to its average volume of 601,411. NetEase, Inc. has a 1-year low of $75.85 and a 1-year high of $141.45. The business has a fifty day moving average price of $130.65 and a 200 day moving average price of $112.63. The firm has a market capitalization of $80.66 billion, a PE ratio of 18.32, a PEG ratio of 4.52 and a beta of 0.68.

NetEase Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were issued a dividend of $0.675 per share. The ex-dividend date was Friday, May 30th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 2.1%. NetEase's payout ratio is currently 38.71%.

Wall Street Analyst Weigh In

NTES has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of NetEase in a research note on Monday, May 12th. They issued a "buy" rating and a $130.00 price target for the company. JPMorgan Chase & Co. lowered shares of NetEase from an "overweight" rating to a "neutral" rating and upped their price target for the stock from $135.00 to $140.00 in a research note on Monday. Barclays upped their price target on shares of NetEase from $104.00 to $118.00 and gave the stock an "equal weight" rating in a research note on Friday, May 16th. Finally, Wall Street Zen raised shares of NetEase from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 22nd. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, NetEase presently has a consensus rating of "Moderate Buy" and a consensus target price of $120.00.

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.