National Bank of Canada FI Sells 465,726 Shares of NetEase, Inc. (NASDAQ:NTES)

National Bank of Canada FI trimmed its holdings in shares of NetEase, Inc. (NASDAQ:NTES - Free Report) by 83.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 91,500 shares of the technology company's stock after selling 465,726 shares during the period. National Bank of Canada FI's holdings in NetEase were worth $9,417,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of NTES. Mirae Asset Global Investments Co. Ltd. increased its position in NetEase by 7,698.2% in 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 last quarter. Capital World Investors boosted its stake 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 worth $332,311,000 after acquiring an additional 1,074,818 shares in the last quarter. Man Group plc boosted its stake in NetEase by 98.0% during the 4th quarter. Man Group plc now owns 708,268 shares of the technology company's stock valued at $63,185,000 after purchasing an additional 350,578 shares during the period. New York State Common Retirement Fund bought a new stake in NetEase during the 1st quarter valued at approximately $28,765,000. Finally, Northern Trust Corp boosted its stake in NetEase by 138.5% during the 4th quarter. Northern Trust Corp now owns 430,653 shares of the technology company's stock valued at $38,419,000 after purchasing an additional 250,111 shares during the period. 11.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have commented on NTES shares. Wall Street Zen downgraded NetEase from a "strong-buy" rating to a "buy" rating in a research report on Saturday. JPMorgan Chase & Co. downgraded NetEase from an "overweight" rating to a "neutral" rating and raised their price objective for the stock from $135.00 to $140.00 in a research report on Monday, July 28th. Barclays raised their price objective on NetEase from $104.00 to $118.00 and gave the stock an "equal weight" rating in a research report on Friday, May 16th. Finally, Deutsche Bank Aktiengesellschaft started coverage on NetEase in a research report on Monday, May 12th. They issued a "buy" rating and a $130.00 price objective for the company. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $120.00.

NetEase Stock Down 0.3%

NTES stock traded down $0.45 during midday trading on Friday, reaching $129.22. 953,540 shares of the company's stock traded hands, compared to its average volume of 803,900. The company has a 50-day simple moving average of $132.01 and a two-hundred day simple moving average of $114.98. NetEase, Inc. has a 1-year low of $75.85 and a 1-year high of $141.45. The company has a market cap of $81.87 billion, a price-to-earnings ratio of 17.49, a PEG ratio of 4.48 and a beta of 0.67.

NetEase Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Thursday, August 28th will be issued a dividend of $0.675 per share. This represents a $2.70 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Thursday, August 28th. NetEase's dividend payout ratio (DPR) is currently 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.