WT Asset Management Ltd Sells 181,047 Shares of NetEase, Inc. (NASDAQ:NTES)

WT Asset Management Ltd lowered its position in NetEase, Inc. (NASDAQ:NTES) by 37.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 299,822 shares of the technology company’s stock after selling 181,047 shares during the period. NetEase makes up approximately 2.8% of WT Asset Management Ltd’s investment portfolio, making the stock its 13th biggest holding. WT Asset Management Ltd’s holdings in NetEase were worth $28,657,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Nordea Investment Management AB increased its position in shares of NetEase by 17.2% during the first quarter. Nordea Investment Management AB now owns 318,550 shares of the technology company’s stock worth $33,059,000 after acquiring an additional 46,635 shares during the period. Canada Pension Plan Investment Board increased its holdings in NetEase by 12.4% during the first quarter. Canada Pension Plan Investment Board now owns 327,400 shares of the technology company’s stock valued at $33,876,000 after buying an additional 36,000 shares during the period. Lazard Asset Management LLC increased its holdings in NetEase by 804.5% during the first quarter. Lazard Asset Management LLC now owns 792,357 shares of the technology company’s stock valued at $81,983,000 after buying an additional 704,753 shares during the period. Boston Partners purchased a new position in NetEase during the fourth quarter valued at approximately $964,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in NetEase by 6.3% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 278,802 shares of the technology company’s stock valued at $28,848,000 after buying an additional 16,607 shares during the period. Institutional investors own 11.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on NTES shares. Morgan Stanley reissued an “equal weight” rating and set a $100.00 price objective on shares of NetEase in a report on Friday, July 5th. Benchmark lifted their price target on shares of NetEase from $144.00 to $145.00 and gave the stock a “buy” rating in a report on Friday, May 24th. StockNews.com downgraded shares of NetEase from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 20th. Jefferies Financial Group lowered their price objective on shares of NetEase from $126.00 to $103.00 and set a “buy” rating for the company in a research note on Thursday. Finally, Bank of America lowered their price objective on shares of NetEase from $142.00 to $120.00 and set a “buy” rating for the company in a research note on Friday. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $119.38.

NetEase Trading Down 0.2 %

Shares of NetEase stock traded down $0.17 during trading hours on Friday, reaching $82.08. The stock had a trading volume of 3,422,936 shares, compared to its average volume of 1,732,832. The stock’s 50 day moving average is $91.59 and its 200 day moving average is $97.15. The firm has a market capitalization of $52.71 billion, a PE ratio of 12.73, a PEG ratio of 1.81 and a beta of 0.53. NetEase, Inc. has a twelve month low of $80.63 and a twelve month high of $118.89.

NetEase (NASDAQ:NTES) last issued its quarterly earnings data on Thursday, August 22nd. The technology company reported $12.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.62 by $10.43. The business had revenue of $25.49 billion during the quarter, compared to the consensus estimate of $26.01 billion. NetEase had a net margin of 28.75% and a return on equity of 24.19%. The company’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.75 earnings per share. As a group, sell-side analysts predict that NetEase, Inc. will post 6.7 earnings per share for the current year.

NetEase Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be paid a dividend of $0.435 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $1.74 dividend on an annualized basis and a dividend yield of 2.12%. NetEase’s dividend payout ratio is currently 30.54%.

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.