Logan Capital Management Inc. Sells 8,864 Shares of NetEase, Inc. $NTES

Logan Capital Management Inc. lowered its holdings in shares of NetEase, Inc. (NASDAQ:NTES) by 62.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,361 shares of the technology company’s stock after selling 8,864 shares during the quarter. Logan Capital Management Inc.’s holdings in NetEase were worth $721,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of NTES. Kayne Anderson Rudnick Investment Management LLC bought a new position in shares of NetEase during the 1st quarter valued at $26,000. Private Trust Co. NA raised its holdings in shares of NetEase by 266.0% during the 2nd quarter. Private Trust Co. NA now owns 194 shares of the technology company’s stock valued at $26,000 after purchasing an additional 141 shares in the last quarter. USA Financial Formulas bought a new position in shares of NetEase during the 2nd quarter valued at $30,000. Mather Group LLC. raised its holdings in shares of NetEase by 1,415.0% during the 1st quarter. Mather Group LLC. now owns 303 shares of the technology company’s stock valued at $31,000 after purchasing an additional 283 shares in the last quarter. Finally, Reyes Financial Architecture Inc. raised its holdings in shares of NetEase by 1,189.5% during the 2nd quarter. Reyes Financial Architecture Inc. now owns 245 shares of the technology company’s stock valued at $33,000 after purchasing an additional 226 shares in the last quarter. Institutional investors own 11.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of NetEase from a “buy” rating to a “strong-buy” rating in a report on Friday, October 3rd. Zacks Research downgraded shares of NetEase from a “strong-buy” rating to a “hold” rating in a report on Friday, August 15th. Morgan Stanley reiterated an “overweight” rating and issued a $170.00 target price on shares of NetEase in a report on Wednesday, October 8th. The Goldman Sachs Group set a $161.00 target price on shares of NetEase and gave the stock a “buy” rating in a report on Monday, September 15th. Finally, Arete Research upgraded shares of NetEase to a “strong-buy” rating in a report on Wednesday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $142.30.

NetEase Stock Performance

NASDAQ:NTES opened at $145.17 on Wednesday. The firm’s 50-day moving average is $146.07 and its 200-day moving average is $131.11. NetEase, Inc. has a 52-week low of $75.88 and a 52-week high of $159.55. The company has a market cap of $91.98 billion, a price-to-earnings ratio of 19.64, a PEG ratio of 1.93 and a beta of 0.67.

NetEase Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 11th. Investors of record on Thursday, August 28th were given a dividend of $0.675 per share. The ex-dividend date of this dividend was Thursday, August 28th. This represents a $2.70 dividend on an annualized basis and a yield of 1.9%. NetEase’s dividend payout ratio (DPR) is 30.72%.

NetEase 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.