Point72 Hong Kong Ltd Decreases Holdings in NetEase, Inc. (NASDAQ:NTES)

Point72 Hong Kong Ltd decreased its holdings in NetEase, Inc. (NASDAQ:NTES) by 98.2% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 21,278 shares of the technology company’s stock after selling 1,192,045 shares during the period. Point72 Hong Kong Ltd’s holdings in NetEase were worth $1,990,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in NTES. Sequoia Financial Advisors LLC increased its stake in NetEase by 4.3% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 2,575 shares of the technology company’s stock worth $246,000 after purchasing an additional 107 shares during the period. Guinness Atkinson Asset Management Inc grew its holdings in NetEase by 0.7% in the 2nd quarter. Guinness Atkinson Asset Management Inc now owns 15,422 shares of the technology company’s stock worth $1,474,000 after acquiring an additional 110 shares during the last quarter. SYSTM Wealth Solutions LLC increased its position in shares of NetEase by 55.5% in the second quarter. SYSTM Wealth Solutions LLC now owns 328 shares of the technology company’s stock valued at $31,000 after acquiring an additional 117 shares during the period. Fifth Third Bancorp raised its stake in shares of NetEase by 1.9% during the second quarter. Fifth Third Bancorp now owns 7,658 shares of the technology company’s stock valued at $732,000 after acquiring an additional 146 shares during the last quarter. Finally, Financial Advocates Investment Management boosted its holdings in shares of NetEase by 5.4% during the third quarter. Financial Advocates Investment Management now owns 4,647 shares of the technology company’s stock worth $435,000 after purchasing an additional 237 shares during the period. Institutional investors own 11.07% of the company’s stock.

NetEase Price Performance

NASDAQ:NTES opened at $87.48 on Monday. NetEase, Inc. has a 1-year low of $75.85 and a 1-year high of $114.50. The company has a market capitalization of $56.18 billion, a PE ratio of 14.78, a P/E/G ratio of 3.23 and a beta of 0.57. The firm’s 50-day moving average price is $85.61 and its 200-day moving average price is $88.08.

NetEase Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a dividend of $0.435 per share. This represents a $1.74 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date is Friday, November 29th. NetEase’s dividend payout ratio (DPR) is presently 29.22%.

Analyst Ratings Changes

A number of brokerages recently issued reports on NTES. Benchmark reduced their price target on NetEase from $120.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, November 15th. Jefferies Financial Group decreased their target price on NetEase from $126.00 to $103.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Bank of America cut their price target on shares of NetEase from $142.00 to $120.00 and set a “buy” rating on the stock in a report on Friday, August 23rd. Barclays decreased their price objective on shares of NetEase from $104.00 to $82.00 and set an “equal weight” rating for the company in a report on Monday, August 26th. Finally, Citigroup lifted their target price on shares of NetEase from $108.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, NetEase currently has a consensus rating of “Moderate Buy” and an average target price of $107.29.

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.