NetEase, Inc. (NASDAQ:NTES) Holdings Trimmed by Fifth Third Bancorp

Fifth Third Bancorp lowered its position in shares of NetEase, Inc. (NASDAQ:NTES - Free Report) by 31.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,126 shares of the technology company's stock after selling 2,405 shares during the quarter. Fifth Third Bancorp's holdings in NetEase were worth $457,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Brooklyn Investment Group purchased a new position in shares of NetEase in the 4th quarter valued at about $34,000. UMB Bank n.a. grew its stake in NetEase by 33.3% in the 4th quarter. UMB Bank n.a. now owns 444 shares of the technology company's stock valued at $40,000 after acquiring an additional 111 shares during the last quarter. Highline Wealth Partners LLC purchased a new position in shares of NetEase during the 3rd quarter worth approximately $45,000. RPg Family Wealth Advisory LLC purchased a new stake in NetEase during the 3rd quarter worth about $70,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of NetEase during the third quarter valued at approximately $76,000. Institutional investors and hedge funds own 11.07% of the company's stock.

NetEase Trading Up 0.8 %

NTES traded up $0.82 on Monday, hitting $103.67. 1,115,504 shares of the company's stock were exchanged, compared to its average volume of 1,353,044. The stock has a fifty day moving average of $93.98 and a two-hundred day moving average of $88.47. NetEase, Inc. has a twelve month low of $75.85 and a twelve month high of $114.50. The firm has a market cap of $66.57 billion, a PE ratio of 17.51, a P/E/G ratio of 3.44 and a beta of 0.58.

NetEase Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were issued a $0.435 dividend. This represents a $1.74 annualized dividend and a dividend yield of 1.68%. The ex-dividend date was Friday, November 29th. NetEase's dividend payout ratio (DPR) is 29.22%.

Wall Street Analysts Forecast Growth

Several analysts have commented on NTES shares. Bank of America lifted their price target on NetEase from $120.00 to $122.00 and gave the company a "buy" rating in a report on Wednesday, January 15th. StockNews.com downgraded shares of NetEase from a "strong-buy" rating to a "buy" rating in a research note on Friday, December 6th. Benchmark decreased their target price on NetEase from $120.00 to $105.00 and set a "buy" rating for the company in a research report on Friday, November 15th. Citigroup boosted their price target on NetEase from $108.00 to $115.00 and gave the stock a "buy" rating in a research report on Friday, November 15th. Finally, Morgan Stanley raised shares of NetEase from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $90.00 to $108.00 in a research report on Wednesday, January 8th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $108.71.

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.