Crossmark Global Holdings Inc. Trims Stock Holdings in NetEase, Inc. (NASDAQ:NTES)

Crossmark Global Holdings Inc. reduced its position in shares of NetEase, Inc. (NASDAQ:NTES - Free Report) by 9.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 103,225 shares of the technology company's stock after selling 10,494 shares during the period. Crossmark Global Holdings Inc.'s holdings in NetEase were worth $9,653,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in NTES. Massachusetts Financial Services Co. MA increased its position in shares of NetEase by 6.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,692,705 shares of the technology company's stock worth $161,789,000 after purchasing an additional 103,102 shares in the last quarter. Point72 Hong Kong Ltd increased its holdings in shares of NetEase by 109.0% during the 2nd quarter. Point72 Hong Kong Ltd now owns 1,213,323 shares of the technology company's stock worth $115,969,000 after buying an additional 632,896 shares during the last quarter. Capital International Investors boosted its position in NetEase by 1.1% during the 1st quarter. Capital International Investors now owns 1,052,966 shares of the technology company's stock worth $108,950,000 after purchasing an additional 11,729 shares during the period. Price T Rowe Associates Inc. MD purchased a new position in NetEase in the 1st quarter valued at about $103,658,000. Finally, Lazard Asset Management LLC lifted its position in shares of NetEase by 804.5% during the first quarter. Lazard Asset Management LLC now owns 792,357 shares of the technology company's stock worth $81,983,000 after purchasing an additional 704,753 shares during the last quarter. 11.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on NTES. Bank of America dropped their price target on shares of NetEase from $142.00 to $120.00 and set a "buy" rating on the stock in a research note on Friday, August 23rd. Jefferies Financial Group cut their target price on shares of NetEase from $126.00 to $103.00 and set a "buy" rating for the company in a research report on Thursday, August 22nd. Barclays cut their price target on shares of NetEase from $104.00 to $82.00 and set an "equal weight" rating on the stock in a report on Monday, August 26th. Finally, StockNews.com downgraded shares of NetEase from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 20th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $112.67.

NetEase Trading Up 1.1 %

Shares of NTES traded up $0.85 during trading hours on Monday, reaching $77.61. The stock had a trading volume of 1,267,079 shares, compared to its average volume of 1,733,412. The company has a market capitalization of $49.84 billion, a price-to-earnings ratio of 12.52, a P/E/G ratio of 1.70 and a beta of 0.57. The firm has a 50-day simple moving average of $83.59 and a 200 day simple moving average of $89.45. NetEase, Inc. has a 12 month low of $75.85 and a 12 month high of $118.89.

NetEase (NASDAQ:NTES - Get Free Report) last announced its quarterly earnings data on Thursday, August 22nd. The technology company reported $12.05 earnings per share for the quarter, topping the consensus estimate of $1.62 by $10.43. The company had revenue of $25.49 billion during the quarter, compared to analyst estimates of $26.01 billion. NetEase had a return on equity of 22.30% and a net margin of 26.98%. The firm's revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.75 EPS. On average, equities analysts forecast that NetEase, Inc. will post 6.02 EPS for the current year.

NetEase Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were given a dividend of $0.435 per share. The ex-dividend date was Friday, September 6th. This represents a $1.74 annualized dividend and a dividend yield of 2.24%. NetEase's dividend payout ratio is presently 28.22%.

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.