M&T Bank Corp Decreases Stake in NetEase, Inc. (NASDAQ:NTES)

M&T Bank Corp lessened its stake in shares of NetEase, Inc. (NASDAQ:NTES - Free Report) by 14.6% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 27,426 shares of the technology company's stock after selling 4,695 shares during the period. M&T Bank Corp's holdings in NetEase were worth $2,823,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. boosted its position 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 purchasing an additional 2,780,897 shares during the period. Invesco Ltd. boosted its holdings in NetEase by 88.0% during the fourth quarter. Invesco Ltd. now owns 2,365,464 shares of the technology company's stock worth $211,023,000 after buying an additional 1,107,363 shares in the last quarter. Capital World Investors lifted its holdings in shares of NetEase by 40.6% in the fourth 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 in the last quarter. FIL Ltd lifted its stake in shares of NetEase by 160.2% during the fourth quarter. FIL Ltd now owns 1,668,359 shares of the technology company's stock valued at $148,834,000 after buying an additional 1,027,102 shares during the period. Finally, Mawer Investment Management Ltd. purchased a new position in NetEase during the fourth quarter worth approximately $62,593,000. 11.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

NetEase Price Performance

Shares of NTES traded up $3.23 during midday trading on Tuesday, reaching $133.13. The stock had a trading volume of 749,389 shares, compared to its average volume of 1,471,253. The company has a market capitalization of $84.35 billion, a P/E ratio of 19.16, a P/E/G ratio of 4.47 and a beta of 0.69. The firm's 50 day moving average price is $125.03 and its 200-day moving average price is $108.91. NetEase, Inc. has a 52 week low of $75.85 and a 52 week high of $135.32.

NetEase Announces Dividend

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. 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 38.71%.

About NetEase

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.