Sumitomo Mitsui Trust Group Inc. Reduces Holdings in NetEase, Inc. (NASDAQ:NTES)

Sumitomo Mitsui Trust Group Inc. reduced its position in NetEase, Inc. (NASDAQ:NTES - Free Report) by 49.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,076 shares of the technology company's stock after selling 6,974 shares during the quarter. Sumitomo Mitsui Trust Group Inc.'s holdings in NetEase were worth $662,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA lifted its stake in shares of NetEase by 6.5% in 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 buying an additional 103,102 shares in the last quarter. Point72 Hong Kong Ltd increased its stake in shares of NetEase by 109.0% in the second quarter. Point72 Hong Kong Ltd now owns 1,213,323 shares of the technology company's stock worth $115,969,000 after purchasing an additional 632,896 shares in the last quarter. Capital International Investors increased its stake in shares of NetEase by 1.1% in the first 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 in the last quarter. Price T Rowe Associates Inc. MD purchased a new position in NetEase during the first quarter valued at $103,658,000. Finally, Lazard Asset Management LLC lifted its position in NetEase by 804.5% during the first quarter. Lazard Asset Management LLC now owns 792,357 shares of the technology company's stock valued at $81,983,000 after purchasing an additional 704,753 shares during the last quarter. Hedge funds and other institutional investors own 11.07% of the company's stock.

NetEase Stock Up 2.2 %

NASDAQ NTES traded up $1.85 on Wednesday, hitting $87.53. 1,641,343 shares of the stock were exchanged, compared to its average volume of 1,747,814. The company has a market cap of $56.21 billion, a PE ratio of 14.47, a PEG ratio of 3.23 and a beta of 0.57. NetEase, Inc. has a fifty-two week low of $75.85 and a fifty-two week high of $117.47. The company has a 50-day moving average price of $84.15 and a 200-day moving average price of $88.75.

NetEase (NASDAQ:NTES - Get Free Report) last issued 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. NetEase had a net margin of 26.02% and a return on equity of 20.82%. The business had revenue of $25.49 billion during the quarter, compared to the consensus estimate of $26.01 billion. During the same quarter in the previous year, the firm earned $1.75 EPS. The company's revenue was up 6.1% compared to the same quarter last year. As a group, equities research analysts predict that NetEase, Inc. will post 6.08 EPS for the current fiscal year.

NetEase Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a dividend of $0.435 per share. The ex-dividend date is Friday, November 29th. This represents a $1.74 dividend on an annualized basis and a yield of 1.99%. NetEase's payout ratio is currently 29.22%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on NTES shares. Bank of America decreased their price objective on shares of NetEase from $142.00 to $120.00 and set a "buy" rating for the company in a report on Friday, August 23rd. Barclays cut their price objective on shares of NetEase from $104.00 to $82.00 and set an "equal weight" rating on the stock in a research report on Monday, August 26th. Jefferies Financial Group cut their price objective on shares of NetEase from $126.00 to $103.00 and set a "buy" rating on the stock in a research report on Thursday, August 22nd. Citigroup lifted their target price on shares of NetEase from $108.00 to $115.00 and gave the stock a "buy" rating in a research note on Friday, November 15th. Finally, Benchmark lowered their target price on shares of NetEase from $120.00 to $105.00 and set a "buy" rating for the company in a research note on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, NetEase presently has an average rating of "Moderate Buy" and a consensus price target of $107.29.

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.