Envestnet Asset Management Inc. Sells 2,741 Shares of NetEase, Inc. (NASDAQ:NTES)

Envestnet Asset Management Inc. trimmed its holdings in shares of NetEase, Inc. (NASDAQ:NTES - Free Report) by 4.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 63,743 shares of the technology company's stock after selling 2,741 shares during the period. Envestnet Asset Management Inc.'s holdings in NetEase were worth $5,686,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Resolute Advisors LLC increased its stake in NetEase by 26.4% during the 4th quarter. Resolute Advisors LLC now owns 5,833 shares of the technology company's stock worth $520,000 after purchasing an additional 1,218 shares in the last quarter. Pitcairn Co. raised its position in NetEase by 62.3% in the 4th quarter. Pitcairn Co. now owns 8,026 shares of the technology company's stock valued at $716,000 after buying an additional 3,082 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in NetEase by 6.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,766,327 shares of the technology company's stock valued at $157,574,000 after acquiring an additional 100,922 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of NetEase by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 107,306 shares of the technology company's stock worth $9,573,000 after acquiring an additional 2,873 shares in the last quarter. Finally, National Bank of Canada FI bought a new stake in shares of NetEase in the fourth quarter worth $49,710,000. 11.07% of the stock is owned by institutional investors.

NetEase Stock Down 0.2 %

Shares of NTES traded down $0.18 during trading hours on Friday, hitting $105.74. 519,031 shares of the company were exchanged, compared to its average volume of 1,619,026. The company has a market cap of $67.90 billion, a price-to-earnings ratio of 16.60, a P/E/G ratio of 3.37 and a beta of 0.65. The firm's fifty day moving average is $100.40 and its 200 day moving average is $94.32. NetEase, Inc. has a fifty-two week low of $75.85 and a fifty-two week high of $110.15.

NetEase (NASDAQ:NTES - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The technology company reported $1.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.14. The business had revenue of $3.66 billion for the quarter, compared to analyst estimates of $27.16 billion. NetEase had a net margin of 28.17% and a return on equity of 22.12%. Analysts anticipate that NetEase, Inc. will post 6.91 EPS for the current year.

NetEase Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, March 6th were paid a $0.435 dividend. This represents a $1.74 annualized dividend and a yield of 1.65%. The ex-dividend date was Thursday, March 6th. NetEase's payout ratio is 76.45%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on NTES shares. Bank of America boosted their price target on shares of NetEase from $120.00 to $122.00 and gave the stock a "buy" rating in a research report on Wednesday, January 15th. Benchmark increased their price objective on NetEase from $105.00 to $115.00 and gave the company a "buy" rating in a report on Friday, February 21st. Morgan Stanley increased their price target on shares of NetEase from $108.00 to $117.00 and gave the company an "overweight" rating in a research note on Wednesday, February 12th. Finally, Barclays lifted 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 six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $112.67.

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.