NetEase, Inc. $NTES Shares Sold by Massachusetts Financial Services Co. MA

Key Points

• Massachusetts Financial Services Co. reduced its NetEase stake by 2.7% in Q4, selling 34,021 shares and finishing the period with 1,217,124 shares valued at about $167.5 million (≈0.19% of the company).
• NetEase more than doubled its quarterly dividend to $1.16 (from $0.57), implying a $4.64 annualized payout, a 4.1% yield and a payout ratio around 63%.
• Analysts maintain a consensus “Moderate Buy” (8 Buys, 3 Holds) with an average price target of $153.89, while the stock trades at $112.72 and the company has a market cap of $71.4 billion.

Massachusetts Financial Services Co. MA lowered its position in shares of NetEase, Inc. (NASDAQ:NTES - Free Report) by 2.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,217,124 shares of the technology company's stock after selling 34,021 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.19% of NetEase worth $167,501,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cornerstone Planning Group LLC acquired a new stake in shares of NetEase during the 3rd quarter worth approximately $33,000. Steigerwald Gordon & Koch Inc. acquired a new stake in shares of NetEase during the 3rd quarter worth approximately $38,000. First Horizon Corp acquired a new stake in shares of NetEase during the 3rd quarter worth approximately $45,000. Mather Group LLC. acquired a new stake in shares of NetEase during the 3rd quarter worth approximately $46,000. Finally, Spire Wealth Management increased its holdings in shares of NetEase by 29.2% during the 3rd quarter. Spire Wealth Management now owns 332 shares of the technology company's stock worth $50,000 after buying an additional 75 shares during the last quarter. Institutional investors and hedge funds own 11.07% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Benchmark restated a "buy" rating on shares of NetEase in a report on Thursday, February 12th. Nomura dropped their target price on shares of NetEase from $160.00 to $155.00 and set a "buy" rating for the company in a report on Friday, February 13th. Weiss Ratings reiterated a "hold (c)" rating on shares of NetEase in a report on Monday, December 22nd. Barclays dropped their target price on shares of NetEase from $135.00 to $132.00 and set an "equal weight" rating for the company in a report on Thursday, February 12th. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $154.00 target price on shares of NetEase in a report on Monday, March 2nd. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $153.89.

NetEase Stock Performance

NetEase stock opened at $112.72 on Monday. NetEase, Inc. has a fifty-two week low of $95.02 and a fifty-two week high of $159.55. The firm has a 50 day moving average price of $116.72 and a 200 day moving average price of $132.60. The company has a market capitalization of $71.42 billion, a PE ratio of 15.36, a price-to-earnings-growth ratio of 1.45 and a beta of 0.76.

NetEase Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Monday, March 16th were paid a $1.16 dividend. This represents a $4.64 annualized dividend and a dividend yield of 4.1%. This is a positive change from NetEase's previous quarterly dividend of $0.57. The ex-dividend date was Monday, March 16th. NetEase's payout ratio is presently 63.08%.

NetEase Company Profile

NetEase, Inc NASDAQ: NTES is a Chinese technology company headquartered in Hangzhou that develops and operates Internet services and products. Founded in 1997 by William Ding (Ding Lei), the company has grown from an early web portal and e-mail provider into a diversified online services group. William Ding has served as the company's founder and long-time leader, guiding its expansion into games, digital content and consumer services.

The company's primary business is interactive entertainment: NetEase Games designs, develops and publishes PC and mobile games for domestic and international audiences, offering a mix of self-developed franchises and titles published under licensing and strategic partnerships.

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