NetEase, Inc. (NASDAQ:NTES) Shares Sold by Nan Fung Trinity HK Ltd.

Key Points

• Nan Fung Trinity HK Ltd. reduced its stake in NetEase, Inc. by 49.3%, selling 49,000 shares and retaining 50,300 shares valued at $5,177,000 according to a recent 13F filing.
• Despite the sale, other investors like Mather Group LLC. and TD Private Client Wealth LLC have increased their positions in NetEase, showcasing ongoing interest in the stock.
• NetEase recently announced a quarterly dividend of $0.675 per share, reflecting an annualized yield of 2.05% and a dividend payout ratio of 38.71%.

Nan Fung Trinity HK Ltd. cut its stake in NetEase, Inc. (NASDAQ:NTES - Free Report) by 49.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 50,300 shares of the technology company's stock after selling 49,000 shares during the period. Nan Fung Trinity HK Ltd.'s holdings in NetEase were worth $5,177,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of NTES. Brighton Jones LLC boosted its holdings in NetEase by 1.1% in the fourth quarter. Brighton Jones LLC now owns 10,297 shares of the technology company's stock valued at $919,000 after acquiring an additional 117 shares during the last quarter. Concurrent Investment Advisors LLC increased its stake in NetEase by 5.4% during the first quarter. Concurrent Investment Advisors LLC now owns 2,569 shares of the technology company's stock worth $264,000 after acquiring an additional 132 shares during the last quarter. Fifth Third Bancorp raised its holdings in shares of NetEase by 2.7% in the 1st quarter. Fifth Third Bancorp now owns 5,264 shares of the technology company's stock worth $542,000 after purchasing an additional 138 shares during the period. Hardy Reed LLC lifted its stake in shares of NetEase by 1.7% in the 1st quarter. Hardy Reed LLC now owns 8,394 shares of the technology company's stock valued at $864,000 after purchasing an additional 139 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of NetEase by 1.6% during the 1st quarter. Bank of New York Mellon Corp now owns 9,884 shares of the technology company's stock worth $1,017,000 after purchasing an additional 153 shares during the period. Hedge funds and other institutional investors own 11.07% of the company's stock.

Analyst Ratings Changes

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

NetEase Trading Down 0.9%

NetEase stock traded down $1.21 during midday trading on Wednesday, hitting $130.32. The stock had a trading volume of 515,450 shares, compared to its average volume of 583,908. The business has a fifty day moving average price of $130.42 and a 200 day moving average price of $112.38. NetEase, Inc. has a 12 month low of $75.85 and a 12 month high of $141.45. The stock has a market cap of $82.57 billion, a P/E ratio of 18.75, a P/E/G ratio of 4.56 and a beta of 0.69.

NetEase Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.07%. NetEase's dividend payout ratio (DPR) is 38.71%.

NetEase Company 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.