NetEase, Inc. (NASDAQ:NTES) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp trimmed its position in NetEase, Inc. (NASDAQ:NTES) by 10.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 468,772 shares of the technology company’s stock after selling 55,132 shares during the period. Van ECK Associates Corp owned 0.07% of NetEase worth $43,671,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in NTES. Ballentine Partners LLC acquired a new position in shares of NetEase in the 3rd quarter valued at $216,000. Cambridge Investment Research Advisors Inc. grew its position in NetEase by 13.2% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 6,467 shares of the technology company’s stock worth $648,000 after purchasing an additional 752 shares during the period. Dakota Wealth Management acquired a new stake in NetEase during the 3rd quarter worth about $200,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in NetEase by 86.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,918 shares of the technology company’s stock worth $1,695,000 after purchasing an additional 7,860 shares during the period. Finally, Mackenzie Financial Corp grew its position in NetEase by 202.4% during the 3rd quarter. Mackenzie Financial Corp now owns 50,210 shares of the technology company’s stock worth $4,962,000 after purchasing an additional 33,607 shares during the period. 11.07% of the stock is owned by institutional investors and hedge funds.

NetEase Trading Down 2.6 %

NTES stock traded down $2.51 during mid-day trading on Tuesday, reaching $94.12. The company’s stock had a trading volume of 285,487 shares, compared to its average volume of 1,696,958. The stock has a market cap of $60.68 billion, a PE ratio of 15.27, a P/E/G ratio of 0.87 and a beta of 0.58. NetEase, Inc. has a fifty-two week low of $80.79 and a fifty-two week high of $118.89. The company’s 50 day moving average is $102.05 and its two-hundred day moving average is $102.83.

NetEase (NASDAQ:NTES) last announced its quarterly earnings results on Thursday, February 29th. The technology company reported $1.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.62 by ($0.20). The firm had revenue of $3.82 billion for the quarter, compared to analyst estimates of $3.96 billion. NetEase had a return on equity of 24.36% and a net margin of 28.39%. On average, analysts forecast that NetEase, Inc. will post 7.04 earnings per share for the current fiscal year.

NetEase Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a $1.08 dividend. This represents a $4.32 annualized dividend and a yield of 4.59%. The ex-dividend date was Wednesday, March 13th. This is an increase from NetEase’s previous quarterly dividend of $0.50. NetEase’s dividend payout ratio (DPR) is 68.09%.

Analyst Ratings Changes

Several brokerages have weighed in on NTES. HSBC cut their price target on NetEase from $130.00 to $126.00 and set a “buy” rating on the stock in a research report on Wednesday, April 24th. Morgan Stanley lowered their target price on shares of NetEase from $135.00 to $120.00 and set an “overweight” rating on the stock in a research note on Friday, April 12th. Finally, StockNews.com lowered shares of NetEase from a “strong-buy” rating to a “buy” rating in a research note on Monday. Eight research analysts have rated the stock with a buy rating, According to MarketBeat.com, NetEase has an average rating of “Buy” and a consensus target price of $126.00.

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.