Victory Capital Management Inc. Sells 28,537 Shares of NetEase, Inc. (NASDAQ:NTES)

Victory Capital Management Inc. trimmed its position in shares of NetEase, Inc. (NASDAQ:NTESGet Rating) by 6.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 451,049 shares of the technology company’s stock after selling 28,537 shares during the period. Victory Capital Management Inc. owned 0.07% of NetEase worth $40,859,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Fifth Third Bancorp increased its holdings in NetEase by 4.1% in the 4th quarter. Fifth Third Bancorp now owns 2,767 shares of the technology company’s stock valued at $282,000 after acquiring an additional 110 shares during the last quarter. Los Angeles Capital Management LLC increased its holdings in NetEase by 0.3% in the 4th quarter. Los Angeles Capital Management LLC now owns 40,918 shares of the technology company’s stock valued at $4,165,000 after acquiring an additional 140 shares during the last quarter. Wetherby Asset Management Inc. increased its holdings in NetEase by 1.4% in the 4th quarter. Wetherby Asset Management Inc. now owns 10,707 shares of the technology company’s stock valued at $1,090,000 after acquiring an additional 145 shares during the last quarter. Fieldpoint Private Securities LLC increased its holdings in NetEase by 22.0% in the 1st quarter. Fieldpoint Private Securities LLC now owns 858 shares of the technology company’s stock valued at $77,000 after acquiring an additional 155 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its holdings in shares of NetEase by 8.6% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 2,499 shares of the technology company’s stock worth $254,000 after buying an additional 197 shares during the last quarter. 21.18% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on NTES shares. Macquarie assumed coverage on shares of NetEase in a report on Tuesday, July 5th. They issued an “outperform” rating and a $129.00 target price on the stock. HSBC dropped their price target on shares of NetEase from $126.00 to $122.00 and set a “buy” rating for the company in a research note on Wednesday, May 25th. StockNews.com cut shares of NetEase from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 16th. The Goldman Sachs Group assumed coverage on shares of NetEase in a research note on Sunday, April 10th. They set a “buy” rating and a $132.00 price target for the company. Finally, JPMorgan Chase & Co. raised shares of NetEase from an “underweight” rating to an “overweight” rating and lifted their price target for the stock from $60.00 to $120.00 in a research note on Monday, May 16th. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $128.50.

NetEase Price Performance

NetEase stock opened at $91.54 on Tuesday. The firm has a 50-day moving average of $95.82 and a two-hundred day moving average of $94.38. NetEase, Inc. has a 1 year low of $68.62 and a 1 year high of $118.19. The stock has a market cap of $59.94 billion, a price-to-earnings ratio of 23.29, a price-to-earnings-growth ratio of 1.60 and a beta of 0.42. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.30 and a quick ratio of 2.28.

NetEase (NASDAQ:NTESGet Rating) last announced its quarterly earnings results on Tuesday, May 24th. The technology company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.07. NetEase had a net margin of 18.56% and a return on equity of 18.02%. The firm had revenue of $23.56 billion during the quarter, compared to analysts’ expectations of $23.12 billion. During the same quarter in the prior year, the company earned $1.00 EPS. The company’s revenue was up 14.8% compared to the same quarter last year. On average, research analysts forecast that NetEase, Inc. will post 3.95 earnings per share for the current year.

NetEase Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 23rd. Stockholders of record on Wednesday, June 8th were given a $0.322 dividend. The ex-dividend date of this dividend was Tuesday, June 7th. This represents a $1.29 annualized dividend and a dividend yield of 1.41%. NetEase’s payout ratio is presently 32.57%.

NetEase Profile

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NetEase, Inc provides online services focusing on diverse content, community, communication, and commerce in the Peoples' Republic of China and internationally. The company operates in three segments: Online Game Services, Youdao, Cloud Music, and Innovative Businesses and Others. It develops and operates PC and mobile games, as well as offers games licensed from other game developers.

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Institutional Ownership by Quarter for NetEase (NASDAQ:NTES)

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