NetEase, Inc. (NASDAQ:NTES) Shares Sold by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC trimmed its holdings in NetEase, Inc. (NASDAQ:NTES) by 4.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 41,506 shares of the technology company’s stock after selling 1,808 shares during the quarter. Manning & Napier Advisors LLC’s holdings in NetEase were worth $3,703,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Brooklyn Investment Group purchased a new stake in shares of NetEase during the 4th quarter worth approximately $34,000. Ariadne Wealth Management LP purchased a new stake in NetEase in the second quarter valued at $35,000. UMB Bank n.a. lifted its position in NetEase by 33.3% in the fourth quarter. UMB Bank n.a. now owns 444 shares of the technology company’s stock valued at $40,000 after acquiring an additional 111 shares during the last quarter. Highline Wealth Partners LLC purchased a new position in shares of NetEase during the third quarter worth about $45,000. Finally, RPg Family Wealth Advisory LLC purchased a new position in shares of NetEase during the third quarter worth about $70,000. 11.07% of the stock is currently owned by hedge funds and other institutional investors.

NetEase Stock Performance

Shares of NTES opened at $100.89 on Thursday. The stock has a market capitalization of $64.79 billion, a P/E ratio of 17.04, a P/E/G ratio of 3.33 and a beta of 0.57. NetEase, Inc. has a 1 year low of $75.85 and a 1 year high of $114.50. The company’s fifty day moving average is $93.06 and its two-hundred day moving average is $88.26.

NetEase Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were paid a dividend of $0.435 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.74 dividend on an annualized basis and a dividend yield of 1.72%. NetEase’s dividend payout ratio (DPR) is 29.22%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on NTES. StockNews.com cut NetEase from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 6th. Bank of America boosted their price objective on NetEase from $120.00 to $122.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. Morgan Stanley raised shares of NetEase from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $90.00 to $108.00 in a report on Wednesday, January 8th. Citigroup increased their price target 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 dropped their price objective on shares of NetEase from $120.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, November 15th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $108.71.

About NetEase

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.