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

Massachusetts Financial Services Co. MA reduced its position in shares of NetEase, Inc. (NASDAQ:NTES - Free Report) by 1.4% in the first quarter, according to its most recent filing with the SEC. The fund owned 1,742,385 shares of the technology company's stock after selling 23,942 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.27% of NetEase worth $179,326,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital World Investors increased its position in shares of NetEase by 40.6% during the 4th quarter. Capital World Investors now owns 3,725,046 shares of the technology company's stock valued at $332,311,000 after purchasing an additional 1,074,818 shares during the last quarter. Lazard Asset Management LLC lifted its stake in shares of NetEase by 2.0% during the 4th quarter. Lazard Asset Management LLC now owns 3,599,794 shares of the technology company's stock worth $321,137,000 after acquiring an additional 69,789 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of NetEase by 7,698.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,817,021 shares of the technology company's stock worth $289,928,000 after acquiring an additional 2,780,897 shares during the last quarter. Dodge & Cox lifted its stake in shares of NetEase by 0.6% during the 4th quarter. Dodge & Cox now owns 2,649,876 shares of the technology company's stock worth $236,395,000 after acquiring an additional 15,900 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in shares of NetEase by 88.0% during the 4th quarter. Invesco Ltd. now owns 2,365,464 shares of the technology company's stock worth $211,023,000 after acquiring an additional 1,107,363 shares during the last quarter. 11.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on NTES shares. Wall Street Zen raised NetEase from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 22nd. Deutsche Bank Aktiengesellschaft started coverage on NetEase in a research note on Monday, May 12th. They set a "buy" rating and a $130.00 price target for the company. JPMorgan Chase & Co. raised their price target on NetEase from $120.00 to $135.00 and gave the stock an "overweight" rating in a research note on Monday, May 19th. Finally, Barclays raised their price target on NetEase from $104.00 to $118.00 and gave the stock an "equal weight" rating in a research note on Friday, May 16th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $119.38.

NetEase Stock Up 2.2%

NASDAQ:NTES traded up $2.93 during midday trading on Friday, hitting $136.12. The stock had a trading volume of 636,920 shares, compared to its average volume of 1,464,006. NetEase, Inc. has a one year low of $75.85 and a one year high of $136.88. The company has a market capitalization of $86.24 billion, a price-to-earnings ratio of 19.59, a PEG ratio of 4.64 and a beta of 0.69. The stock has a 50-day moving average of $127.23 and a 200 day moving average of $109.87.

NetEase Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were paid a $0.675 dividend. This represents a $2.70 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date 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.