NetEase, Inc. (NASDAQ:NTES) Position Cut by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank cut its position in NetEase, Inc. (NASDAQ:NTES - Free Report) by 58.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,007 shares of the technology company's stock after selling 9,911 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in NetEase were worth $653,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Private Trust Co. NA boosted its stake in NetEase by 418.9% during the fourth quarter. Private Trust Co. NA now owns 275 shares of the technology company's stock worth $26,000 after buying an additional 222 shares during the last quarter. Chilton Capital Management LLC acquired a new position in NetEase during the fourth quarter worth $37,000. Headlands Technologies LLC acquired a new position in NetEase during the third quarter worth $56,000. CVA Family Office LLC acquired a new position in NetEase during the fourth quarter worth $65,000. Finally, Huntington National Bank boosted its stake in NetEase by 31.4% during the third quarter. Huntington National Bank now owns 678 shares of the technology company's stock worth $68,000 after buying an additional 162 shares during the last quarter. 11.07% of the stock is owned by institutional investors and hedge funds.

NetEase Stock Performance

Shares of NetEase stock traded up $0.55 during trading hours on Wednesday, hitting $94.02. The company's stock had a trading volume of 677,580 shares, compared to its average volume of 1,695,391. The stock has a market cap of $60.62 billion, a price-to-earnings ratio of 14.85, a P/E/G ratio of 0.88 and a beta of 0.58. NetEase, Inc. has a twelve month low of $80.79 and a twelve month high of $118.89. The firm has a fifty day moving average of $101.51 and a 200-day moving average of $102.69.

NetEase (NASDAQ:NTES - Get Free Report) last posted its quarterly earnings data on Thursday, February 29th. The technology company reported $1.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.62 by ($0.20). The firm had revenue of $3.82 billion during the quarter, compared to analysts' expectations of $3.96 billion. NetEase had a net margin of 28.39% and a return on equity of 24.36%. On average, sell-side analysts expect that NetEase, Inc. will post 7.04 earnings per share for the current fiscal year.

NetEase Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a $1.08 dividend. This represents a $4.32 annualized dividend and a dividend yield of 4.59%. The ex-dividend date of this dividend was Wednesday, March 13th. This is an increase from NetEase's previous quarterly dividend of $0.50. NetEase's payout ratio is currently 68.09%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. StockNews.com lowered NetEase from a "strong-buy" rating to a "buy" rating in a research note on Monday. HSBC decreased their price target on NetEase from $130.00 to $126.00 and set a "buy" rating on the stock in a research note on Wednesday, April 24th. Finally, Morgan Stanley decreased their price target on NetEase from $135.00 to $120.00 and set an "overweight" rating on the stock in a research note on Friday, April 12th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $126.00.

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.