Rhumbline Advisers Has $3.01 Million Position in NetEase, Inc. $NTES

Key Points

• Rhumbline Advisers reduced its stake in NetEase, Inc. by 22.4%, selling 8,459 shares during the quarter, leading to ownership of 29,232 shares valued at approximately $3 million.
• NetEase recently declared a quarterly dividend of $0.675 per share, reflecting an annualized dividend of $2.70 and a yield of 1.7% with a payout ratio of 30.72%.
• The company's current market cap is $98.10 billion, with shares trading at $154.83, and it holds a P/E ratio of 20.95, indicating a valuation ratio relative to earnings.

Rhumbline Advisers lowered its holdings in NetEase, Inc. (NASDAQ:NTES - Free Report) by 22.4% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,232 shares of the technology company's stock after selling 8,459 shares during the period. Rhumbline Advisers' holdings in NetEase were worth $3,009,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of NTES. Mirae Asset Global Investments Co. Ltd. lifted its holdings in NetEase by 7,698.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,817,021 shares of the technology company's stock worth $289,928,000 after acquiring an additional 2,780,897 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of NetEase by 111.7% during the first quarter. Wellington Management Group LLP now owns 1,988,541 shares of the technology company's stock valued at $204,661,000 after buying an additional 1,049,023 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of NetEase by 54.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,977,835 shares of the technology company's stock valued at $203,560,000 after buying an additional 697,192 shares during the last quarter. New York State Common Retirement Fund bought a new stake in shares of NetEase during the first quarter valued at approximately $28,765,000. Finally, TT International Asset Management LTD bought a new stake in shares of NetEase during the first quarter valued at approximately $21,918,000. Institutional investors own 11.07% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on NTES shares. The Goldman Sachs Group set a $161.00 price target on NetEase and gave the company a "buy" rating in a report on Monday. Zacks Research lowered shares of NetEase from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 15th. Wall Street Zen lowered shares of NetEase from a "strong-buy" rating to a "buy" rating in a research note on Saturday. JPMorgan Chase & Co. lowered shares of NetEase from an "overweight" rating to a "neutral" rating and raised their price objective for the company from $135.00 to $140.00 in a research note on Monday, July 28th. Finally, Arete Research upgraded shares of NetEase to a "strong-buy" rating in a research note on Wednesday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, NetEase has a consensus rating of "Moderate Buy" and an average price target of $132.00.

NetEase Stock Down 0.6%

Shares of NASDAQ:NTES traded down $0.85 during trading on Friday, reaching $152.05. 739,772 shares of the company traded hands, compared to its average volume of 695,921. The firm has a fifty day simple moving average of $136.66 and a 200 day simple moving average of $121.48. The firm has a market cap of $96.34 billion, a P/E ratio of 20.58, a price-to-earnings-growth ratio of 2.04 and a beta of 0.67. NetEase, Inc. has a 1-year low of $75.88 and a 1-year high of $159.55.

NetEase Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 11th. Investors of record on Thursday, August 28th were paid a $0.675 dividend. This represents a $2.70 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Thursday, August 28th. NetEase's payout ratio is presently 30.72%.

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.