Inverness Counsel LLC NY Sells 23,500 Shares of NetEase, Inc. (NASDAQ:NTES)

Inverness Counsel LLC NY cut its holdings in NetEase, Inc. (NASDAQ:NTES) by 11.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 176,169 shares of the technology company’s stock after selling 23,500 shares during the quarter. Inverness Counsel LLC NY’s holdings in NetEase were worth $20,303,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Marshall Wace LLP boosted its position in NetEase by 151.2% during the 1st quarter. Marshall Wace LLP now owns 638 shares of the technology company’s stock valued at $154,000 after acquiring an additional 384 shares in the last quarter. Natixis Advisors L.P. boosted its position in NetEase by 1.4% during the 1st quarter. Natixis Advisors L.P. now owns 147,185 shares of the technology company’s stock valued at $15,198,000 after acquiring an additional 2,099 shares in the last quarter. Standard Life Aberdeen plc boosted its position in NetEase by 22.6% during the 1st quarter. Standard Life Aberdeen plc now owns 1,024,513 shares of the technology company’s stock valued at $105,790,000 after acquiring an additional 189,001 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in NetEase by 13.0% during the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 98,884 shares of the technology company’s stock valued at $10,211,000 after acquiring an additional 11,405 shares in the last quarter. Finally, Institutional & Family Asset Management LLC boosted its position in NetEase by 2.8% during the 1st quarter. Institutional & Family Asset Management LLC now owns 14,589 shares of the technology company’s stock valued at $1,506,000 after acquiring an additional 399 shares in the last quarter. 33.20% of the stock is currently owned by institutional investors.

NASDAQ:NTES traded up $0.44 during trading hours on Wednesday, reaching $84.96. The company had a trading volume of 62,621 shares, compared to its average volume of 2,706,838. NetEase, Inc. has a 52 week low of $77.97 and a 52 week high of $134.33. The firm has a market cap of $56.91 billion, a price-to-earnings ratio of 31.65, a PEG ratio of 1.26 and a beta of 0.41. The firm’s 50 day moving average price is $96.18 and its 200-day moving average price is $104.71.

NetEase (NASDAQ:NTES) last posted its earnings results on Monday, August 30th. The technology company reported $6.24 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $5.46. NetEase had a net margin of 15.03% and a return on equity of 13.91%. The business had revenue of $20.52 billion during the quarter, compared to the consensus estimate of $20.66 billion. During the same quarter in the previous year, the firm posted $34.58 EPS. The firm’s revenue was up 12.9% on a year-over-year basis. On average, equities research analysts predict that NetEase, Inc. will post 3.39 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 30th. Stockholders of record on Tuesday, September 14th will be given a dividend of $0.24 per share. This is an increase from NetEase’s previous quarterly dividend of $0.06. The ex-dividend date is Monday, September 13th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.13%. NetEase’s payout ratio is presently 43.12%.

Several research firms have recently issued reports on NTES. CLSA lowered their target price on shares of NetEase from $159.00 to $134.00 and set a “buy” rating for the company in a report on Wednesday, May 19th. Macquarie lowered their target price on shares of NetEase from $124.00 to $118.00 and set an “in-line” rating for the company in a report on Wednesday, May 19th. HSBC lowered their target price on shares of NetEase from $137.00 to $125.00 and set a “buy” rating for the company in a report on Wednesday, September 1st. UBS Group boosted their price objective on shares of NetEase from $133.00 to $139.00 and gave the stock a “buy” rating in a report on Wednesday, May 19th. Finally, Citigroup decreased their price objective on shares of NetEase from $148.00 to $132.00 and set a “buy” rating for the company in a report on Wednesday, July 28th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $129.63.

NetEase Profile

NetEase, Inc is an internet technology company, which premium online services centered around content, community, communication and commerce. It develops and operates some of the most popular PC-client and mobile games in China. The firm also operates some of the most popular international online games in China by partnering with Blizzard Entertainment, Mojang AB (a Microsoft subsidiary) and other global game developers.

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Institutional Ownership by Quarter for NetEase (NASDAQ:NTES)

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