Legal & General Group Plc Has $17.25 Million Stock Holdings in NetEase, Inc. (NASDAQ:NTES)

Legal & General Group Plc cut its stake in shares of NetEase, Inc. (NASDAQ:NTES - Free Report) by 20.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 193,330 shares of the technology company's stock after selling 48,255 shares during the quarter. Legal & General Group Plc's holdings in NetEase were worth $17,247,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of NTES. State Street Corp increased its stake in NetEase by 0.3% in the 3rd quarter. State Street Corp now owns 56,729 shares of the technology company's stock worth $5,305,000 after purchasing an additional 156 shares in the last quarter. XTX Topco Ltd purchased a new position in shares of NetEase in the third quarter worth approximately $274,000. MML Investors Services LLC raised its holdings in shares of NetEase by 12.1% during the third quarter. MML Investors Services LLC now owns 3,954 shares of the technology company's stock valued at $370,000 after acquiring an additional 428 shares during the period. Advisory Resource Group lifted its position in shares of NetEase by 22.0% in the 3rd quarter. Advisory Resource Group now owns 12,626 shares of the technology company's stock valued at $1,181,000 after acquiring an additional 2,281 shares in the last quarter. Finally, Sanctuary Advisors LLC boosted its stake in NetEase by 5.6% in the 3rd quarter. Sanctuary Advisors LLC now owns 13,245 shares of the technology company's stock worth $1,145,000 after purchasing an additional 701 shares during the period. 11.07% of the stock is currently owned by institutional investors and hedge funds.

NetEase Stock Up 1.4 %

NTES stock traded up $1.32 during trading hours on Friday, hitting $98.73. The company's stock had a trading volume of 1,353,037 shares, compared to its average volume of 1,607,987. The company has a market capitalization of $63.40 billion, a PE ratio of 15.50, a price-to-earnings-growth ratio of 3.37 and a beta of 0.65. The stock has a 50 day moving average price of $100.73 and a two-hundred day moving average price of $94.28. NetEase, Inc. has a 12 month low of $75.85 and a 12 month high of $110.15.

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

NetEase Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th were paid a $0.435 dividend. This represents a $1.74 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date was Thursday, March 6th. NetEase's payout ratio is 76.45%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Barclays boosted their target price on shares of NetEase from $82.00 to $104.00 and gave the company an "equal weight" rating in a research note on Monday, February 24th. Morgan Stanley upped their price target on NetEase from $108.00 to $117.00 and gave the company an "overweight" rating in a research report on Wednesday, February 12th. Bank of America raised their price objective on NetEase from $120.00 to $122.00 and gave the stock a "buy" rating in a research report on Wednesday, January 15th. Finally, Benchmark increased their price target on shares of NetEase from $105.00 to $115.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $114.57.

NetEase Company 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.