M&T Bank Corp Has $2.82 Million Stake in NetEase, Inc. (NASDAQ:NTES)

M&T Bank Corp reduced its stake in shares of NetEase, Inc. (NASDAQ:NTES - Free Report) by 14.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,426 shares of the technology company's stock after selling 4,695 shares during the quarter. M&T Bank Corp's holdings in NetEase were worth $2,823,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of NTES. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of NetEase by 7,698.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,817,021 shares of the technology company's stock valued at $289,928,000 after purchasing an additional 2,780,897 shares during the last quarter. Invesco Ltd. grew its stake in shares of NetEase by 88.0% during the fourth quarter. Invesco Ltd. now owns 2,365,464 shares of the technology company's stock valued at $211,023,000 after purchasing an additional 1,107,363 shares during the last quarter. Capital World Investors boosted its stake in 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 acquiring an additional 1,074,818 shares during the last quarter. FIL Ltd boosted its stake in NetEase by 160.2% in the fourth quarter. FIL Ltd now owns 1,668,359 shares of the technology company's stock valued at $148,834,000 after acquiring an additional 1,027,102 shares during the last quarter. Finally, Mawer Investment Management Ltd. bought a new position in NetEase in the fourth quarter valued at approximately $62,593,000. 11.07% of the stock is owned by institutional investors.

NetEase Stock Performance

NTES opened at $128.28 on Friday. The firm's fifty day moving average is $124.63 and its two-hundred day moving average is $108.41. The firm has a market cap of $81.28 billion, a PE ratio of 18.46, a price-to-earnings-growth ratio of 4.44 and a beta of 0.69. NetEase, Inc. has a twelve month low of $75.85 and a twelve month high of $135.32.

NetEase Dividend Announcement

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. The ex-dividend date of this dividend was Friday, May 30th. This represents a $2.70 annualized dividend and a yield of 2.10%. NetEase's dividend payout ratio (DPR) is presently 38.71%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on NTES shares. Wall Street Zen raised shares of NetEase from a "buy" rating to a "strong-buy" rating in a research note 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 note on Friday, May 16th. JPMorgan Chase & Co. raised their price objective 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. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of NetEase in a research note on Monday, May 12th. They issued a "buy" rating and a $130.00 price objective on the stock. One investment 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $119.38.

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.

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