Wells Fargo & Company MN Decreases Position in NetEase, Inc. (NASDAQ:NTES)

Wells Fargo & Company MN cut its holdings in NetEase, Inc. (NASDAQ:NTES) by 18.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 92,853 shares of the technology company’s stock after selling 21,505 shares during the period. Wells Fargo & Company MN’s holdings in NetEase were worth $8,283,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. UMB Bank n.a. increased its holdings in shares of NetEase by 33.3% in the fourth quarter. UMB Bank n.a. now owns 444 shares of the technology company’s stock worth $40,000 after buying an additional 111 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its position in NetEase by 1.6% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,190 shares of the technology company’s stock worth $641,000 after acquiring an additional 114 shares during the last quarter. Brighton Jones LLC increased its stake in NetEase by 1.1% in the 4th quarter. Brighton Jones LLC now owns 10,297 shares of the technology company’s stock worth $919,000 after purchasing an additional 117 shares during the period. Farther Finance Advisors LLC lifted its position in NetEase by 81.7% in the fourth quarter. Farther Finance Advisors LLC now owns 338 shares of the technology company’s stock valued at $30,000 after purchasing an additional 152 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of NetEase by 0.3% during the third quarter. State Street Corp now owns 56,729 shares of the technology company’s stock valued at $5,305,000 after purchasing an additional 156 shares during the period. 11.07% of the stock is currently owned by hedge funds and other institutional investors.

NetEase Trading Up 1.4 %

Shares of NTES opened at $98.73 on Friday. NetEase, Inc. has a 1-year low of $75.85 and a 1-year high of $110.15. The firm’s 50-day moving average price is $100.73 and its 200-day moving average price is $94.28. The firm has a market capitalization of $63.40 billion, a price-to-earnings ratio of 15.50, a PEG ratio of 3.37 and a beta of 0.65.

NetEase (NASDAQ:NTES) last posted its quarterly earnings data on Thursday, February 20th. The technology company reported $1.87 earnings per share for the quarter, beating the consensus estimate of $1.73 by $0.14. NetEase had a return on equity of 22.12% and a net margin of 28.17%. The business had revenue of $3.66 billion for the quarter, compared to analysts’ expectations of $27.16 billion. On average, research analysts forecast that NetEase, Inc. will post 6.91 EPS for the current fiscal year.

NetEase Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, March 6th were paid a $0.435 dividend. The ex-dividend date was Thursday, March 6th. This represents a $1.74 annualized dividend and a yield of 1.76%. NetEase’s payout ratio is 76.45%.

Analyst Ratings Changes

Several research analysts recently commented on NTES shares. Benchmark lifted their target price on shares of NetEase from $105.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Morgan Stanley boosted their price objective on shares of NetEase from $108.00 to $117.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Bank of America increased their target price on shares of NetEase from $120.00 to $122.00 and gave the stock a “buy” rating in a report on Wednesday, January 15th. Finally, Barclays raised their target price on NetEase from $82.00 to $104.00 and gave the stock an “equal weight” rating in a research note on Monday, February 24th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $114.57.

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.