Brandes Investment Partners LP Cuts Stock Holdings in NetEase, Inc. $NTES

Brandes Investment Partners LP lessened its holdings in NetEase, Inc. (NASDAQ:NTES) by 30.0% during the second quarter, Holdings Channel.com reports. The firm owned 17,474 shares of the technology company’s stock after selling 7,503 shares during the quarter. Brandes Investment Partners LP’s holdings in NetEase were worth $2,352,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. NewSquare Capital LLC lifted its holdings in shares of NetEase by 137.2% in the 2nd quarter. NewSquare Capital LLC now owns 185 shares of the technology company’s stock valued at $25,000 after buying an additional 107 shares during the period. Kayne Anderson Rudnick Investment Management LLC acquired a new stake in NetEase in the first quarter valued at $26,000. Private Trust Co. NA boosted its position in shares of NetEase by 266.0% during the 2nd quarter. Private Trust Co. NA now owns 194 shares of the technology company’s stock worth $26,000 after purchasing an additional 141 shares in the last quarter. USA Financial Formulas acquired a new position in shares of NetEase during the 2nd quarter worth $30,000. Finally, Reyes Financial Architecture Inc. increased its holdings in shares of NetEase by 1,189.5% in the 2nd quarter. Reyes Financial Architecture Inc. now owns 245 shares of the technology company’s stock valued at $33,000 after purchasing an additional 226 shares in the last quarter. 11.07% of the stock is owned by hedge funds and other institutional investors.

NetEase Stock Performance

NTES stock opened at $142.30 on Wednesday. The company has a 50 day moving average price of $144.39 and a two-hundred day moving average price of $137.27. The stock has a market capitalization of $90.16 billion, a P/E ratio of 19.26, a PEG ratio of 1.91 and a beta of 0.68. NetEase, Inc. has a one year low of $87.67 and a one year high of $159.55.

NetEase Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 1.6%. The ex-dividend date is Friday, December 5th. NetEase’s dividend payout ratio is presently 28.99%.

Analysts Set New Price Targets

NTES has been the topic of a number of research analyst reports. Arete Research raised shares of NetEase to a “strong-buy” rating in a report on Wednesday, September 3rd. Citigroup restated a “buy” rating on shares of NetEase in a report on Friday, November 21st. Wall Street Zen downgraded NetEase from a “buy” rating to a “hold” rating in a research note on Sunday, November 23rd. The Goldman Sachs Group set a $161.00 target price on NetEase and gave the stock a “buy” rating in a research report on Monday, September 15th. Finally, Benchmark upped their target price on NetEase from $145.00 to $158.00 and gave the company a “buy” rating in a report on Friday, November 21st. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $152.10.

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.