Neuberger Berman Group LLC Has $12.53 Million Position in NetEase, Inc. $NTES

Neuberger Berman Group LLC lessened its holdings in shares of NetEase, Inc. (NASDAQ:NTES) by 52.0% in the 2nd quarter, Holdings Channel.com reports. The firm owned 93,168 shares of the technology company’s stock after selling 100,771 shares during the quarter. Neuberger Berman Group LLC’s holdings in NetEase were worth $12,526,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. NewSquare Capital LLC increased its position in NetEase by 137.2% in the 2nd quarter. NewSquare Capital LLC now owns 185 shares of the technology company’s stock worth $25,000 after buying an additional 107 shares during the period. Kayne Anderson Rudnick Investment Management LLC acquired a new position in shares of NetEase in the first quarter valued at $26,000. Private Trust Co. NA lifted its position in NetEase by 266.0% in the second quarter. Private Trust Co. NA now owns 194 shares of the technology company’s stock worth $26,000 after purchasing an additional 141 shares during the period. USA Financial Formulas acquired a new stake in NetEase during the second quarter worth $30,000. Finally, Reyes Financial Architecture Inc. increased its holdings in 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 buying an additional 226 shares during the period. Institutional investors own 11.07% of the company’s stock.

NetEase Price Performance

Shares of NASDAQ:NTES opened at $137.00 on Friday. The stock has a market cap of $86.80 billion, a price-to-earnings ratio of 18.54, a P/E/G ratio of 1.91 and a beta of 0.65. The company has a 50 day moving average of $144.75 and a 200-day moving average of $136.53. NetEase, Inc. has a one year low of $85.94 and a one year high of $159.55.

NetEase Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be paid a dividend of $0.57 per share. The ex-dividend date of this dividend is Friday, December 5th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.7%. NetEase’s payout ratio is 29.12%.

Analysts Set New Price Targets

NTES has been the topic of several research analyst reports. Wall Street Zen cut shares of NetEase from a “buy” rating to a “hold” rating in a research note on Sunday, November 23rd. Morgan Stanley restated an “overweight” rating and set a $170.00 price target on shares of NetEase in a research report on Wednesday, October 8th. Arete Research upgraded NetEase to a “strong-buy” rating in a research report on Wednesday, September 3rd. Sanford C. Bernstein set a $155.00 target price on NetEase in a report on Friday, November 21st. Finally, Barclays set a $135.00 price target on NetEase and gave the company an “equal weight” rating in a report on Friday, November 21st. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat, NetEase presently has a consensus rating of “Moderate Buy” and an average price target of $152.10.

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.