NetEase, Inc. (NASDAQ:NTES) Shares Sold by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd lowered its position in NetEase, Inc. (NASDAQ:NTES) by 18.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,959 shares of the technology company’s stock after selling 1,960 shares during the period. Y Intercept Hong Kong Ltd’s holdings in NetEase were worth $922,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Mather Group LLC. increased its holdings in NetEase by 1,415.0% in the first quarter. Mather Group LLC. now owns 303 shares of the technology company’s stock valued at $31,000 after buying an additional 283 shares in the last quarter. TD Private Client Wealth LLC purchased a new stake in NetEase in the 1st quarter worth approximately $65,000. Farther Finance Advisors LLC grew its stake in NetEase by 191.7% in the 1st quarter. Farther Finance Advisors LLC now owns 986 shares of the technology company’s stock worth $105,000 after acquiring an additional 648 shares during the period. Toronto Dominion Bank purchased a new stake in NetEase in the 4th quarter worth approximately $145,000. Finally, Bear Mountain Capital Inc. purchased a new stake in NetEase in the 1st quarter worth approximately $194,000. 11.07% of the stock is owned by hedge funds and other institutional investors.

NetEase Stock Down 0.6%

Shares of NASDAQ:NTES opened at $135.48 on Friday. The firm has a 50-day simple moving average of $129.76 and a 200 day simple moving average of $111.56. The company has a market cap of $85.84 billion, a PE ratio of 19.49, a P/E/G ratio of 4.73 and a beta of 0.69. NetEase, Inc. has a fifty-two week low of $75.85 and a fifty-two week high of $141.45.

NetEase Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were paid a dividend of $0.675 per share. This represents a $2.70 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend was Friday, May 30th. NetEase’s payout ratio is 38.71%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. lifted their price target on shares of NetEase from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Monday, May 19th. Wall Street Zen upgraded shares of NetEase from a “buy” rating to a “strong-buy” rating in a report on Thursday, May 22nd. Deutsche Bank Aktiengesellschaft began coverage on shares of NetEase in a report on Monday, May 12th. They issued a “buy” rating and a $130.00 price objective on the stock. Finally, Barclays boosted their target price on shares of NetEase from $104.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Friday, May 16th. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $119.38.

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.