US Bancorp DE Sells 10,096 Shares of NetEase, Inc. (NASDAQ:NTES)

US Bancorp DE lessened its stake in NetEase, Inc. (NASDAQ:NTES - Free Report) by 61.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,373 shares of the technology company's stock after selling 10,096 shares during the period. US Bancorp DE's holdings in NetEase were worth $596,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the stock. Mather Group LLC. raised its position in shares of NetEase by 1,415.0% during the 2nd quarter. Mather Group LLC. now owns 303 shares of the technology company's stock valued at $31,000 after acquiring an additional 283 shares during the last quarter. SYSTM Wealth Solutions LLC raised its position in shares of NetEase by 55.5% during the 2nd quarter. SYSTM Wealth Solutions LLC now owns 328 shares of the technology company's stock valued at $31,000 after acquiring an additional 117 shares during the last quarter. Ariadne Wealth Management LP bought a new stake in shares of NetEase during the 2nd quarter valued at $35,000. Highline Wealth Partners LLC bought a new stake in shares of NetEase during the 3rd quarter valued at $45,000. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of NetEase during the 3rd quarter valued at $76,000. Institutional investors own 11.07% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Bank of America dropped their target price on shares of NetEase from $142.00 to $120.00 and set a "buy" rating for the company in a research report on Friday, August 23rd. Barclays lowered their price objective on shares of NetEase from $104.00 to $82.00 and set an "equal weight" rating for the company in a research report on Monday, August 26th. StockNews.com cut shares of NetEase from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 20th. Finally, Jefferies Financial Group lowered their price objective on shares of NetEase from $126.00 to $103.00 and set a "buy" rating for the company in a research report on Thursday, August 22nd. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, NetEase currently has an average rating of "Moderate Buy" and an average price target of $112.67.

NetEase Stock Performance

NASDAQ NTES traded up $0.85 on Monday, reaching $77.61. The company had a trading volume of 1,267,079 shares, compared to its average volume of 1,733,412. The firm has a market capitalization of $49.84 billion, a price-to-earnings ratio of 12.52, a price-to-earnings-growth ratio of 1.70 and a beta of 0.57. NetEase, Inc. has a 1-year low of $75.85 and a 1-year high of $118.89. The company's fifty day moving average is $83.59 and its 200-day moving average is $89.45.

NetEase (NASDAQ:NTES - Get Free Report) last announced its earnings results on Thursday, August 22nd. The technology company reported $12.05 earnings per share for the quarter, topping analysts' consensus estimates of $1.62 by $10.43. The firm had revenue of $25.49 billion during the quarter, compared to analyst estimates of $26.01 billion. NetEase had a net margin of 26.98% and a return on equity of 22.30%. The company's revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.75 EPS. On average, research analysts forecast that NetEase, Inc. will post 6.02 earnings per share for the current year.

NetEase Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were issued a $0.435 dividend. This represents a $1.74 annualized dividend and a dividend yield of 2.24%. The ex-dividend date was Friday, September 6th. NetEase's payout ratio is 28.22%.

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.