Invesco Ltd. Sells 474,709 Shares of NetEase, Inc. (NASDAQ:NTES)

Invesco Ltd. cut its position in shares of NetEase, Inc. (NASDAQ:NTES - Free Report) by 20.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,890,755 shares of the technology company's stock after selling 474,709 shares during the quarter. Invesco Ltd. owned 0.30% of NetEase worth $194,597,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. XY Capital Ltd acquired a new stake in NetEase during the first quarter valued at approximately $5,467,000. Greykasell Wealth Strategies Inc. acquired a new stake in NetEase during the first quarter valued at approximately $144,000. Allianz SE acquired a new stake in NetEase during the first quarter valued at approximately $110,000. US Bancorp DE boosted its holdings in NetEase by 260.4% during the first quarter. US Bancorp DE now owns 26,276 shares of the technology company's stock valued at $2,704,000 after purchasing an additional 18,985 shares in the last quarter. Finally, Arkadios Wealth Advisors acquired a new stake in NetEase during the first quarter valued at approximately $328,000. 11.07% of the stock is owned by institutional investors and hedge funds.

NetEase Price Performance

Shares of NTES traded down $0.45 on Friday, hitting $129.22. The company's stock had a trading volume of 953,540 shares, compared to its average volume of 803,900. The company has a market capitalization of $81.87 billion, a PE ratio of 17.49, a PEG ratio of 4.50 and a beta of 0.67. NetEase, Inc. has a fifty-two week low of $75.85 and a fifty-two week high of $141.45. The company has a 50 day moving average price of $132.01 and a 200 day moving average price of $114.88.

NetEase Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Thursday, August 28th will be given a $0.675 dividend. This represents a $2.70 annualized dividend and a yield of 2.1%. The ex-dividend date is Thursday, August 28th. NetEase's payout ratio is 38.71%.

Analyst Upgrades and Downgrades

NTES has been the topic of a number of recent research reports. Wall Street Zen raised NetEase from a "buy" rating to a "strong-buy" rating in a report on Thursday, May 22nd. JPMorgan Chase & Co. downgraded NetEase from an "overweight" rating to a "neutral" rating and lifted their price objective for the company from $135.00 to $140.00 in a report on Monday, July 28th. Deutsche Bank Aktiengesellschaft initiated coverage on NetEase in a report on Monday, May 12th. They set a "buy" rating and a $130.00 price objective on the stock. Finally, Barclays lifted their price objective on NetEase from $104.00 to $118.00 and gave the company an "equal weight" rating in a report on Friday, May 16th. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $120.00.

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.