Invesco Ltd. Sells 111,917 Shares of NetEase Inc (NASDAQ:NTES)

Invesco Ltd. trimmed its holdings in shares of NetEase Inc (NASDAQ:NTES) by 4.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,258,695 shares of the technology company’s stock after selling 111,917 shares during the period. Invesco Ltd. owned 1.72% of NetEase worth $577,706,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. USS Investment Management Ltd increased its stake in NetEase by 35.2% in the first quarter. USS Investment Management Ltd now owns 192,000 shares of the technology company’s stock valued at $46,350,000 after purchasing an additional 50,000 shares in the last quarter. Comerica Bank boosted its position in NetEase by 9.3% during the first quarter. Comerica Bank now owns 8,404 shares of the technology company’s stock worth $2,294,000 after purchasing an additional 715 shares during the period. Victory Capital Management Inc. boosted its position in NetEase by 11.1% during the first quarter. Victory Capital Management Inc. now owns 44,781 shares of the technology company’s stock worth $10,812,000 after purchasing an additional 4,491 shares during the period. Nissay Asset Management Corp Japan ADV boosted its position in NetEase by 8.0% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 1,137 shares of the technology company’s stock worth $275,000 after purchasing an additional 84 shares during the period. Finally, CIBC Asset Management Inc boosted its position in NetEase by 2.7% during the first quarter. CIBC Asset Management Inc now owns 5,711 shares of the technology company’s stock worth $1,379,000 after purchasing an additional 150 shares during the period. 45.64% of the stock is owned by institutional investors and hedge funds.

A number of research firms have commented on NTES. Jefferies Financial Group initiated coverage on shares of NetEase in a research report on Monday, August 5th. They set a “buy” rating and a $274.60 price objective for the company. Tigress Financial initiated coverage on shares of NetEase in a research report on Friday, August 16th. They issued a “buy” rating for the company. Goldman Sachs Group cut shares of NetEase from a “buy” rating to a “neutral” rating in a research report on Sunday, August 11th. BidaskClub raised shares of NetEase from a “strong sell” rating to a “sell” rating in a research report on Monday, August 12th. Finally, Zacks Investment Research raised shares of NetEase from a “hold” rating to a “buy” rating and set a $238.00 target price for the company in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $287.21.

NTES stock traded down $1.27 during midday trading on Wednesday, reaching $268.89. The company had a trading volume of 3,784 shares, compared to its average volume of 667,876. The company has a market capitalization of $35.63 billion, a price-to-earnings ratio of 39.10, a price-to-earnings-growth ratio of 0.83 and a beta of 0.83. The stock has a 50 day moving average price of $251.81 and a 200-day moving average price of $255.20. NetEase Inc has a 1-year low of $188.05 and a 1-year high of $289.68.

NetEase (NASDAQ:NTES) last posted its quarterly earnings results on Wednesday, August 7th. The technology company reported $3.44 EPS for the quarter, beating the Zacks’ consensus estimate of $2.29 by $1.15. The business had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.73 billion. NetEase had a return on equity of 18.39% and a net margin of 11.86%. Research analysts anticipate that NetEase Inc will post 10.33 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 23rd were paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date was Thursday, August 22nd. This is an increase from NetEase’s previous quarterly dividend of $0.69. NetEase’s payout ratio is 60.41%.

NetEase Company Profile

NetEase, Inc operates an interactive online community in the People's Republic of China. The company operates in four segments: Online Games Services, E-Commerce, Advertising Services, and Innovative Businesses and Other Services. It offers various games in a range of genres through mobile devices and PCs, including role-playing games, MMORPGs, battle arena games, simulation games, collectible card games, first-person shooter games, sandbox games, and other types of games to the Chinese market.

See Also: Convertible Shares

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Institutional Ownership by Quarter for NetEase (NASDAQ:NTES)

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