Massachusetts Financial Services Co. MA Sells 27,300 Shares of NetEase, Inc. (NASDAQ:NTES)

Massachusetts Financial Services Co. MA trimmed its position in NetEase, Inc. (NASDAQ:NTES - Free Report) by 1.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,665,405 shares of the technology company's stock after selling 27,300 shares during the period. Massachusetts Financial Services Co. MA owned 0.26% of NetEase worth $155,732,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in NTES. Aurora Investment Counsel increased its stake in shares of NetEase by 3.6% during the third quarter. Aurora Investment Counsel now owns 26,305 shares of the technology company's stock valued at $2,460,000 after purchasing an additional 912 shares in the last quarter. Advisors Asset Management Inc. grew its stake in shares of NetEase by 19.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 16,989 shares of the technology company's stock worth $1,589,000 after buying an additional 2,742 shares during the last quarter. Euro Pacific Asset Management LLC increased its position in NetEase by 3.8% during the 3rd quarter. Euro Pacific Asset Management LLC now owns 12,964 shares of the technology company's stock valued at $1,215,000 after buying an additional 469 shares in the last quarter. Central Asset Investments & Management Holdings HK Ltd purchased a new position in NetEase during the third quarter valued at $468,000. Finally, Ashton Thomas Private Wealth LLC raised its stake in NetEase by 5.5% during the third quarter. Ashton Thomas Private Wealth LLC now owns 7,892 shares of the technology company's stock valued at $738,000 after buying an additional 409 shares during the last quarter. Institutional investors own 11.07% of the company's stock.

Analyst Upgrades and Downgrades

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

NetEase Stock Down 2.5 %

NASDAQ:NTES traded down $2.19 on Friday, hitting $86.45. The stock had a trading volume of 1,991,525 shares, compared to its average volume of 1,614,559. The business's 50-day simple moving average is $84.75 and its two-hundred day simple moving average is $88.52. The stock has a market cap of $55.51 billion, a price-to-earnings ratio of 14.60, a price-to-earnings-growth ratio of 3.35 and a beta of 0.57. NetEase, Inc. has a 52-week low of $75.85 and a 52-week high of $115.43.

NetEase (NASDAQ:NTES - Get Free Report) last announced its earnings results on Thursday, August 22nd. The technology company reported $12.05 earnings per share (EPS) for the quarter, beating 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 company had revenue of $25.49 billion during the quarter, compared to analyst estimates of $26.01 billion. During the same period in the previous year, the business posted $1.75 earnings per share. The firm's quarterly revenue was up 6.1% compared to the same quarter last year. As a group, equities research analysts anticipate that NetEase, Inc. will post 6.08 EPS for the current year.

NetEase Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a dividend of $0.435 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.74 dividend on an annualized basis and a dividend yield of 2.01%. NetEase's dividend payout ratio (DPR) is presently 29.22%.

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.