GF Fund Management CO. LTD. Sells 3,137 Shares of NetEase, Inc. (NASDAQ:NTES)

GF Fund Management CO. LTD. trimmed its holdings in shares of NetEase, Inc. (NASDAQ:NTES - Free Report) by 20.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,132 shares of the technology company's stock after selling 3,137 shares during the quarter. GF Fund Management CO. LTD.'s holdings in NetEase were worth $1,249,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Brighton Jones LLC increased its holdings in NetEase by 1.1% in the 4th quarter. Brighton Jones LLC now owns 10,297 shares of the technology company's stock valued at $919,000 after buying an additional 117 shares during the period. Fifth Third Bancorp increased its holdings in NetEase by 2.7% in the 1st quarter. Fifth Third Bancorp now owns 5,264 shares of the technology company's stock valued at $542,000 after buying an additional 138 shares during the period. Farther Finance Advisors LLC increased its holdings in NetEase by 81.7% in the 4th quarter. Farther Finance Advisors LLC now owns 338 shares of the technology company's stock valued at $30,000 after buying an additional 152 shares during the period. Focus Financial Network Inc. increased its holdings in NetEase by 5.6% in the 1st quarter. Focus Financial Network Inc. now owns 3,763 shares of the technology company's stock valued at $387,000 after buying an additional 200 shares during the period. Finally, Polar Capital Holdings Plc increased its holdings in NetEase by 11.1% in the 4th quarter. Polar Capital Holdings Plc now owns 2,397 shares of the technology company's stock valued at $214,000 after buying an additional 240 shares during the period. 11.07% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on NTES shares. Deutsche Bank Aktiengesellschaft began coverage on shares of NetEase in a report on Monday, May 12th. They issued a "buy" rating and a $130.00 target price on the stock. JPMorgan Chase & Co. raised their price target on shares of NetEase from $120.00 to $135.00 and gave the company an "overweight" rating in a research note on Monday, May 19th. Barclays raised their price target on shares of NetEase from $104.00 to $118.00 and gave the company an "equal weight" rating in a research note on Friday, May 16th. Finally, Wall Street Zen upgraded shares of NetEase from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 22nd. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $119.38.

NetEase Stock Up 0.2%

NetEase stock traded up $0.26 during mid-day trading on Tuesday, hitting $133.29. 306,296 shares of the stock were exchanged, compared to its average volume of 1,487,591. NetEase, Inc. has a 12 month low of $75.85 and a 12 month high of $135.32. The firm's fifty day simple moving average is $122.83 and its two-hundred day simple moving average is $107.59. The stock has a market capitalization of $84.45 billion, a price-to-earnings ratio of 19.18, a PEG ratio of 4.63 and a beta of 0.69.

NetEase Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were paid a $0.675 dividend. The ex-dividend date was Friday, May 30th. This represents a $2.70 annualized dividend and a dividend yield of 2.03%. NetEase's dividend payout ratio is currently 38.71%.

NetEase 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.