Massachusetts Financial Services Co. MA Reduces Stock Position in NetEase, Inc. $NTES

Massachusetts Financial Services Co. MA cut its stake in NetEase, Inc. (NASDAQ:NTES) by 16.8% in the third quarter, HoldingsChannel.com reports. The fund owned 1,251,145 shares of the technology company’s stock after selling 251,757 shares during the period. Massachusetts Financial Services Co. MA’s holdings in NetEase were worth $190,162,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its position in NetEase by 1.1% in the 4th quarter. Brighton Jones LLC now owns 10,297 shares of the technology company’s stock worth $919,000 after purchasing an additional 117 shares during the period. Strs Ohio purchased a new position in shares of NetEase in the 1st quarter worth $63,000. UMB Bank n.a. bought a new stake in shares of NetEase in the second quarter worth $39,000. Sowell Financial Services LLC bought a new stake in shares of NetEase in the second quarter worth $223,000. Finally, Park Avenue Securities LLC purchased a new stake in NetEase during the second quarter valued at $1,909,000. Institutional investors own 11.07% of the company’s stock.

NetEase Stock Up 1.4%

NTES stock opened at $137.97 on Tuesday. The business’s 50-day moving average price is $139.08 and its 200-day moving average price is $139.97. The stock has a market cap of $87.42 billion, a P/E ratio of 17.62, a PEG ratio of 1.54 and a beta of 0.67. NetEase, Inc. has a twelve month low of $88.54 and a twelve month high of $159.55.

NetEase Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, December 5th were issued a dividend of $0.57 per share. The ex-dividend date of this dividend was Friday, December 5th. This represents a $2.28 annualized dividend and a yield of 1.7%. NetEase’s payout ratio is currently 28.99%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on NTES. Wall Street Zen cut NetEase from a “buy” rating to a “hold” rating in a research report on Sunday, November 23rd. Benchmark increased their price objective on shares of NetEase from $145.00 to $158.00 and gave the stock a “buy” rating in a research note on Friday, November 21st. Citigroup reissued a “buy” rating on shares of NetEase in a report on Friday, November 21st. Sanford C. Bernstein set a $155.00 target price on shares of NetEase in a research report on Friday, November 21st. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $170.00 target price on shares of NetEase in a report on Wednesday, October 8th. Seven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, NetEase presently has an average rating of “Moderate Buy” and a consensus target price of $156.13.

About NetEase

NetEase, Inc (NASDAQ: NTES) is a Chinese technology company headquartered in Hangzhou that develops and operates Internet services and products. Founded in 1997 by William Ding (Ding Lei), the company has grown from an early web portal and e-mail provider into a diversified online services group. William Ding has served as the company’s founder and long-time leader, guiding its expansion into games, digital content and consumer services.

The company’s primary business is interactive entertainment: NetEase Games designs, develops and publishes PC and mobile games for domestic and international audiences, offering a mix of self-developed franchises and titles published under licensing and strategic partnerships.