Exchange Traded Concepts LLC lowered its stake in NetEase, Inc. (NASDAQ:NTES - Free Report) by 55.2% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,361 shares of the technology company's stock after selling 37,436 shares during the quarter. Exchange Traded Concepts LLC's holdings in NetEase were worth $3,125,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also recently made changes to their positions in the stock. Fifth Third Bancorp raised its stake in shares of NetEase by 2.7% in the first quarter. Fifth Third Bancorp now owns 5,264 shares of the technology company's stock worth $542,000 after buying an additional 138 shares during the period. Focus Financial Network Inc. raised its stake in shares of NetEase by 5.6% in the first quarter. Focus Financial Network Inc. now owns 3,763 shares of the technology company's stock worth $387,000 after buying an additional 200 shares during the period. Moseley Investment Management Inc. bought a new position in shares of NetEase in the first quarter worth about $206,000. Handelsbanken Fonder AB grew its position in shares of NetEase by 13.0% during the first quarter. Handelsbanken Fonder AB now owns 502,115 shares of the technology company's stock worth $51,678,000 after purchasing an additional 57,895 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its position in shares of NetEase by 191.7% during the first quarter. Farther Finance Advisors LLC now owns 986 shares of the technology company's stock worth $105,000 after purchasing an additional 648 shares in the last quarter. Institutional investors own 11.07% of the company's stock.
NetEase Price Performance
NASDAQ NTES opened at $131.08 on Tuesday. The stock has a market capitalization of $83.05 billion, a PE ratio of 20.58, a P/E/G ratio of 3.37 and a beta of 0.67. The business has a 50 day simple moving average of $113.12 and a two-hundred day simple moving average of $103.52. NetEase, Inc. has a 1-year low of $75.85 and a 1-year high of $133.80.
NetEase Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were paid a dividend of $0.675 per share. This represents a $2.70 annualized dividend and a yield of 2.06%. The ex-dividend date was Friday, May 30th. NetEase's payout ratio is 38.71%.
Analysts Set New Price Targets
NTES has been the subject of several research analyst reports. JPMorgan Chase & Co. increased their target price on NetEase from $120.00 to $135.00 and gave the stock an "overweight" rating in a research report on Monday, May 19th. Deutsche Bank Aktiengesellschaft initiated coverage on NetEase in a research report on Monday, May 12th. They set a "buy" rating and a $130.00 target price for the company. Barclays increased their target price on NetEase from $104.00 to $118.00 and gave the stock an "equal weight" rating in a research report on Friday, May 16th. Wall Street Zen upgraded NetEase from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 22nd. Finally, Benchmark increased their target price on NetEase from $105.00 to $115.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $119.38.
Check Out Our Latest Stock Report on NetEase
NetEase Profile
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Free Report)
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.
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