Exchange Traded Concepts LLC Sells 9,339 Shares of NetEase, Inc. $NTES

Key Points

• Exchange Traded Concepts LLC reduced its holdings in NetEase, Inc. by 30.8%, owning 21,022 shares worth $2.83 million after selling 9,339 shares in the second quarter.
• NetEase recently declared a quarterly dividend of $0.675, resulting in an annualized dividend of $2.70 and a 1.8% yield.
• Analysts have mixed ratings on NetEase, with Arete upgrading the stock to a buy, while Zacks and JPMorgan downgraded it, reflecting varying market outlooks.

Exchange Traded Concepts LLC trimmed its holdings in NetEase, Inc. (NASDAQ:NTES - Free Report) by 30.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,022 shares of the technology company's stock after selling 9,339 shares during the quarter. Exchange Traded Concepts LLC's holdings in NetEase were worth $2,829,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of NTES. Kayne Anderson Rudnick Investment Management LLC acquired a new position in shares of NetEase during the 1st quarter worth about $26,000. Mather Group LLC. raised its holdings in NetEase by 1,415.0% during the first quarter. Mather Group LLC. now owns 303 shares of the technology company's stock worth $31,000 after purchasing an additional 283 shares during the last quarter. Reyes Financial Architecture Inc. grew its position in shares of NetEase by 1,189.5% in the second quarter. Reyes Financial Architecture Inc. now owns 245 shares of the technology company's stock valued at $33,000 after purchasing an additional 226 shares during the last quarter. Strs Ohio purchased a new position in NetEase in the 1st quarter valued at about $63,000. Finally, TD Private Client Wealth LLC purchased a new position in NetEase during the first quarter worth about $65,000. 11.07% of the stock is currently owned by hedge funds and other institutional investors.

NetEase Trading Up 0.2%

NASDAQ NTES traded up $0.30 during trading hours on Monday, reaching $152.35. 605,510 shares of the company's stock were exchanged, compared to its average volume of 1,168,450. NetEase, Inc. has a one year low of $75.88 and a one year high of $159.55. The firm has a fifty day moving average of $136.66 and a 200-day moving average of $121.74. The stock has a market cap of $96.53 billion, a PE ratio of 20.62, a price-to-earnings-growth ratio of 2.03 and a beta of 0.67.

NetEase Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 11th. Shareholders of record on Thursday, August 28th were issued a $0.675 dividend. This represents a $2.70 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Thursday, August 28th. NetEase's dividend payout ratio is 30.72%.

Analyst Ratings Changes

A number of analysts recently weighed in on NTES shares. The Goldman Sachs Group set a $161.00 price target on shares of NetEase and gave the stock a "buy" rating in a research report on Monday, September 15th. Zacks Research lowered NetEase from a "strong-buy" rating to a "hold" rating in a report on Friday, August 15th. JPMorgan Chase & Co. cut NetEase from an "overweight" rating to a "neutral" rating and lifted their price target for the company from $135.00 to $140.00 in a report on Monday, July 28th. Arete Research upgraded shares of NetEase to a "strong-buy" rating in a report on Wednesday, September 3rd. Finally, Barclays set a $120.00 price target on shares of NetEase and gave the company an "equal weight" rating in a report on Monday, August 18th. One investment 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, NetEase currently has an average rating of "Moderate Buy" and a consensus target price of $132.00.

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.