NetEase, Inc. (NASDAQ:NTES) Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. lessened its holdings in NetEase, Inc. (NASDAQ:NTES - Free Report) by 96.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,400 shares of the technology company's stock after selling 59,775 shares during the quarter. Prudential Financial Inc.'s holdings in NetEase were worth $210,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of NTES. UMB Bank n.a. grew its holdings in shares of NetEase by 33.3% during the fourth quarter. UMB Bank n.a. now owns 444 shares of the technology company's stock valued at $40,000 after buying an additional 111 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in NetEase by 1.6% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,190 shares of the technology company's stock worth $641,000 after buying an additional 114 shares during the period. Brighton Jones LLC raised its position in NetEase by 1.1% during the 4th quarter. Brighton Jones LLC now owns 10,297 shares of the technology company's stock worth $919,000 after buying an additional 117 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in NetEase by 81.7% during the 4th quarter. Farther Finance Advisors LLC now owns 338 shares of the technology company's stock valued at $30,000 after acquiring an additional 152 shares during the period. Finally, State Street Corp boosted its holdings in shares of NetEase by 0.3% in the 3rd quarter. State Street Corp now owns 56,729 shares of the technology company's stock valued at $5,305,000 after acquiring an additional 156 shares during the last quarter. Institutional investors and hedge funds own 11.07% of the company's stock.

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NetEase Stock Performance

Shares of NASDAQ NTES traded down $1.29 during mid-day trading on Tuesday, reaching $98.03. The company's stock had a trading volume of 874,007 shares, compared to its average volume of 1,610,351. The stock has a 50-day moving average of $101.09 and a two-hundred day moving average of $94.19. The stock has a market capitalization of $62.95 billion, a P/E ratio of 15.39, a P/E/G ratio of 3.37 and a beta of 0.65. NetEase, Inc. has a 1-year low of $75.85 and a 1-year high of $110.15.

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

NetEase Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th were issued a dividend of $0.435 per share. The ex-dividend date was Thursday, March 6th. This represents a $1.74 annualized dividend and a dividend yield of 1.77%. NetEase's dividend payout ratio is presently 76.45%.

Analyst Ratings Changes

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

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.