Wells Fargo & Company MN Cuts Stake in NetEase, Inc. (NASDAQ:NTES)

Wells Fargo & Company MN lessened its holdings in shares of NetEase, Inc. (NASDAQ:NTES - Free Report) by 18.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 92,853 shares of the technology company's stock after selling 21,505 shares during the quarter. Wells Fargo & Company MN's holdings in NetEase were worth $8,283,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of NTES. Farther Finance Advisors LLC lifted its position in NetEase by 81.7% during the fourth quarter. Farther Finance Advisors LLC now owns 338 shares of the technology company's stock valued at $30,000 after purchasing an additional 152 shares during the last quarter. Brooklyn Investment Group purchased a new stake in shares of NetEase during the 4th quarter valued at $34,000. UMB Bank n.a. lifted its holdings in shares of NetEase by 33.3% during the 4th quarter. UMB Bank n.a. now owns 444 shares of the technology company's stock worth $40,000 after acquiring an additional 111 shares during the last quarter. Live Oak Investment Partners purchased a new position in NetEase in the fourth quarter worth $62,000. Finally, Avior Wealth Management LLC increased its stake in NetEase by 148.9% in the fourth quarter. Avior Wealth Management LLC now owns 993 shares of the technology company's stock valued at $89,000 after acquiring an additional 594 shares during the last quarter. Hedge funds and other institutional investors own 11.07% of the company's stock.

Analyst Ratings Changes

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

NetEase Price Performance

NetEase stock traded up $1.99 during mid-day trading on Wednesday, reaching $104.06. 731,027 shares of the company traded hands, compared to its average volume of 1,612,183. The firm's 50 day moving average price is $100.35 and its 200 day moving average price is $94.21. NetEase, Inc. has a 52-week low of $75.85 and a 52-week high of $110.15. The firm has a market capitalization of $66.82 billion, a price-to-earnings ratio of 16.34, a P/E/G ratio of 3.37 and a beta of 0.65.

NetEase (NASDAQ:NTES - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The technology company reported $1.87 EPS for the quarter, topping the consensus estimate of $1.73 by $0.14. The business had revenue of $3.66 billion during 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%. On average, sell-side analysts anticipate that NetEase, Inc. will post 6.91 EPS for the current year.

NetEase Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, March 6th were paid a dividend of $0.435 per share. This represents a $1.74 annualized dividend and a yield of 1.67%. The ex-dividend date was Thursday, March 6th. NetEase's payout ratio is currently 76.45%.

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.