NetEase, Inc. (NASDAQ:NTES) Holdings Cut by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. reduced its stake in NetEase, Inc. (NASDAQ:NTES) by 49.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,076 shares of the technology company’s stock after selling 6,974 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in NetEase were worth $662,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Mather Group LLC. lifted its position in NetEase by 1,415.0% in the 2nd quarter. Mather Group LLC. now owns 303 shares of the technology company’s stock valued at $31,000 after purchasing an additional 283 shares during the last quarter. SYSTM Wealth Solutions LLC increased its position in NetEase by 55.5% in the 2nd quarter. SYSTM Wealth Solutions LLC now owns 328 shares of the technology company’s stock valued at $31,000 after acquiring an additional 117 shares during the period. Ariadne Wealth Management LP acquired a new position in shares of NetEase during the second quarter valued at $35,000. Highline Wealth Partners LLC bought a new stake in shares of NetEase during the third quarter valued at about $45,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in NetEase in the third quarter worth about $76,000. 11.07% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have commented on the stock. Jefferies Financial Group dropped their price target on shares of NetEase from $126.00 to $103.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. Benchmark dropped their target price on NetEase from $120.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, November 15th. Barclays cut their target price on NetEase from $104.00 to $82.00 and set an “equal weight” rating for the company in a research report on Monday, August 26th. Citigroup lifted their price target on NetEase from $108.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Finally, Bank of America cut their price objective on NetEase from $142.00 to $120.00 and set a “buy” rating for the company in a report on Friday, August 23rd. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $107.29.

NetEase Stock Down 2.9 %

Shares of NASDAQ NTES opened at $85.68 on Wednesday. NetEase, Inc. has a 52-week low of $75.85 and a 52-week high of $118.89. The stock has a market capitalization of $55.02 billion, a price-to-earnings ratio of 14.47, a PEG ratio of 3.23 and a beta of 0.57. The stock’s fifty day simple moving average is $84.15 and its 200 day simple moving average is $88.75.

NetEase (NASDAQ:NTES) last announced its quarterly earnings data on Thursday, August 22nd. The technology company reported $12.05 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $10.43. The firm had revenue of $25.49 billion during the quarter, compared to analyst estimates of $26.01 billion. NetEase had a return on equity of 20.82% and a net margin of 26.02%. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period last year, the company posted $1.75 EPS. As a group, analysts anticipate that NetEase, Inc. will post 6.08 earnings per share for the current year.

NetEase Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a $0.435 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.74 dividend on an annualized basis and a yield of 2.03%. NetEase’s dividend payout ratio (DPR) is currently 29.22%.

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.