OLD National Bancorp IN Decreases Position in NetEase, Inc. (NASDAQ:NTES)

OLD National Bancorp IN reduced its holdings in shares of NetEase, Inc. (NASDAQ:NTES) by 3.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,452 shares of the technology company’s stock after selling 110 shares during the quarter. OLD National Bancorp IN’s holdings in NetEase were worth $308,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in NetEase by 13,747.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,258,442 shares of the technology company’s stock valued at $585,227,000 after acquiring an additional 6,213,248 shares during the period. Hhlr Advisors LTD. lifted its position in NetEase by 86.8% during the third quarter. Hhlr Advisors LTD. now owns 2,588,943 shares of the technology company’s stock valued at $242,092,000 after purchasing an additional 1,203,129 shares during the period. Fisher Asset Management LLC boosted its holdings in NetEase by 7.8% in the third quarter. Fisher Asset Management LLC now owns 1,145,657 shares of the technology company’s stock worth $107,130,000 after purchasing an additional 82,474 shares during the last quarter. Wellington Management Group LLP grew its position in NetEase by 1.1% in the 3rd quarter. Wellington Management Group LLP now owns 1,020,213 shares of the technology company’s stock worth $95,400,000 after purchasing an additional 10,920 shares during the period. Finally, Van ECK Associates Corp grew its position in NetEase by 12.3% in the 3rd quarter. Van ECK Associates Corp now owns 666,411 shares of the technology company’s stock worth $62,316,000 after purchasing an additional 72,988 shares during the period. 11.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Citigroup raised their price target on NetEase from $108.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Benchmark dropped their target price on NetEase from $120.00 to $105.00 and set a “buy” rating on the stock in a research report on Friday, November 15th. Bank of America upped their price target on shares of NetEase from $120.00 to $122.00 and gave the company a “buy” rating in a research report on Wednesday, January 15th. StockNews.com lowered shares of NetEase from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 6th. Finally, Morgan Stanley upgraded shares of NetEase from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $90.00 to $108.00 in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $108.71.

NetEase Trading Down 1.9 %

NASDAQ NTES opened at $102.85 on Monday. NetEase, Inc. has a 12 month low of $75.85 and a 12 month high of $114.50. The stock has a market cap of $66.05 billion, a price-to-earnings ratio of 17.37, a PEG ratio of 3.37 and a beta of 0.57. The company’s 50 day moving average is $93.98 and its two-hundred day moving average is $88.50.

NetEase Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were paid a $0.435 dividend. The ex-dividend date was Friday, November 29th. This represents a $1.74 dividend on an annualized basis and a yield of 1.69%. NetEase’s payout ratio is presently 29.22%.

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.