NetEase, Inc. (NTES) Stake Lowered by Mitsubishi UFJ Trust & Banking Corp
Mitsubishi UFJ Trust & Banking Corp cut its stake in NetEase, Inc. (NASDAQ:NTES) by 0.0% during the second quarter, according to its most recent filing with the SEC. The firm owned 130,932 shares of the technology company’s stock after selling 52 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned 0.10% of NetEase worth $39,362,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Princeton Alpha Management LP purchased a new position in shares of NetEase during the first quarter valued at about $403,000. Geode Capital Management LLC boosted its position in shares of NetEase by 11.6% in the first quarter. Geode Capital Management LLC now owns 152,694 shares of the technology company’s stock valued at $43,243,000 after buying an additional 15,931 shares in the last quarter. Morgan Stanley boosted its position in shares of NetEase by 14.4% in the first quarter. Morgan Stanley now owns 737,924 shares of the technology company’s stock valued at $209,570,000 after buying an additional 93,057 shares in the last quarter. Invictus RG boosted its position in shares of NetEase by 64.2% in the first quarter. Invictus RG now owns 980 shares of the technology company’s stock valued at $278,000 after buying an additional 383 shares in the last quarter. Finally, Charles Lim Capital Ltd purchased a new position in shares of NetEase during the first quarter valued at about $8,128,000. Hedge funds and other institutional investors own 50.72% of the company’s stock.
NetEase, Inc. (NASDAQ NTES) opened at 275.57 on Thursday. NetEase, Inc. has a 52-week low of $208.02 and a 52-week high of $337.55.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 25th will be paid a dividend of $0.83 per share. The ex-dividend date is Wednesday, August 23rd. This represents a $3.32 annualized dividend and a yield of 1.20%. NetEase’s payout ratio is 30.37%.
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Several research analysts have recently issued reports on NTES shares. Instinet restated a “buy” rating and issued a $307.00 target price on shares of NetEase in a report on Tuesday, May 9th. Zacks Investment Research cut shares of NetEase from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. Vetr upgraded shares of NetEase from a “buy” rating to a “strong-buy” rating and set a $362.33 target price on the stock in a report on Tuesday, May 30th. Nomura reaffirmed a “hold” rating and issued a $297.00 price target (down previously from $305.00) on shares of NetEase in a research note on Thursday, May 11th. Finally, CLSA lowered NetEase from an “outperform” rating to an “underperform” rating in a research note on Thursday, August 10th. Four research analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. NetEase has an average rating of “Hold” and a consensus price target of $306.40.
NetEase, Inc (NetEase) is a technology company. The Company operates an interactive online community in China and is a provider of Chinese language content and services through its online games, Internet media, e-mail, e-commerce and other businesses. The Company operates through three segments: Online Game Services; Advertising Services, and E-mail, E-commerce and Others.
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