NetEase, Inc. (NASDAQ:NTES) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA reduced its stake in NetEase, Inc. (NASDAQ:NTES - Free Report) by 1.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,742,385 shares of the technology company's stock after selling 23,942 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.27% of NetEase worth $179,326,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. New York State Common Retirement Fund acquired a new stake in NetEase in the first quarter valued at approximately $28,765,000. Ballentine Partners LLC raised its stake in NetEase by 15.1% in the first quarter. Ballentine Partners LLC now owns 3,711 shares of the technology company's stock valued at $382,000 after buying an additional 488 shares in the last quarter. Burford Brothers Inc. acquired a new stake in NetEase in the first quarter valued at $212,000. Cerity Partners LLC raised its position in shares of NetEase by 262.1% during the 1st quarter. Cerity Partners LLC now owns 21,136 shares of the technology company's stock worth $2,175,000 after acquiring an additional 15,299 shares in the last quarter. Finally, May Hill Capital LLC acquired a new stake in NetEase during the 1st quarter worth $207,000. 11.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

NTES has been the topic of a number of research analyst reports. Wall Street Zen upgraded NetEase from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 22nd. Deutsche Bank Aktiengesellschaft assumed coverage on NetEase in a research report on Monday, May 12th. They set a "buy" rating and a $130.00 price target on the stock. Barclays lifted their price objective 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, JPMorgan Chase & Co. boosted their price target on NetEase from $120.00 to $135.00 and gave the company an "overweight" rating in a research report on Monday, May 19th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $119.38.

NetEase Trading Down 0.4%

Shares of NASDAQ:NTES traded down $0.52 on Wednesday, reaching $132.61. 522,521 shares of the company were exchanged, compared to its average volume of 1,465,172. The firm has a market cap of $84.02 billion, a price-to-earnings ratio of 19.08, a price-to-earnings-growth ratio of 4.52 and a beta of 0.69. The company has a 50-day moving average of $125.52 and a 200-day moving average of $109.08. NetEase, Inc. has a 1-year low of $75.85 and a 1-year high of $135.32.

NetEase Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were issued a $0.675 dividend. This represents a $2.70 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend was Friday, May 30th. NetEase's dividend payout ratio (DPR) is 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.