Harvest Fund Management Co. Ltd Sells 32,822 Shares of NetEase, Inc. (NASDAQ:NTES)

Harvest Fund Management Co. Ltd decreased its position in shares of NetEase, Inc. (NASDAQ:NTES) by 35.5% in the 4th quarter, HoldingsChannel reports. The fund owned 59,722 shares of the technology company’s stock after selling 32,822 shares during the period. NetEase makes up about 0.9% of Harvest Fund Management Co. Ltd’s holdings, making the stock its 21st biggest holding. Harvest Fund Management Co. Ltd’s holdings in NetEase were worth $5,561,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of NTES. Ritholtz Wealth Management increased its holdings in shares of NetEase by 82.3% during the third quarter. Ritholtz Wealth Management now owns 5,927 shares of the technology company’s stock valued at $594,000 after acquiring an additional 2,676 shares in the last quarter. Ballentine Partners LLC bought a new stake in shares of NetEase during the third quarter valued at approximately $216,000. Cambridge Investment Research Advisors Inc. increased its holdings in shares of NetEase by 13.2% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 6,467 shares of the technology company’s stock valued at $648,000 after acquiring an additional 752 shares in the last quarter. Dakota Wealth Management bought a new stake in shares of NetEase during the third quarter valued at approximately $200,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of NetEase by 86.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,918 shares of the technology company’s stock valued at $1,695,000 after acquiring an additional 7,860 shares in the last quarter. Institutional investors own 11.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on NTES. Morgan Stanley decreased their price objective on NetEase from $135.00 to $120.00 and set an “overweight” rating for the company in a report on Friday, April 12th. StockNews.com upgraded NetEase from a “buy” rating to a “strong-buy” rating in a report on Tuesday, March 26th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, NetEase presently has a consensus rating of “Buy” and a consensus target price of $126.00.

NetEase Trading Down 1.9 %

NetEase stock traded down $1.81 during trading on Tuesday, hitting $93.07. 1,735,334 shares of the company were exchanged, compared to its average volume of 1,753,385. The business’s 50 day moving average is $103.05 and its 200 day moving average is $103.15. NetEase, Inc. has a 52 week low of $80.79 and a 52 week high of $118.89. The company has a market capitalization of $60.00 billion, a P/E ratio of 14.70, a PEG ratio of 0.85 and a beta of 0.58.

NetEase (NASDAQ:NTES) last announced its quarterly earnings data on Thursday, February 29th. The technology company reported $1.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.62 by ($0.20). The business had revenue of $3.82 billion during the quarter, compared to the consensus estimate of $3.96 billion. NetEase had a net margin of 28.39% and a return on equity of 24.36%. Equities analysts expect that NetEase, Inc. will post 7.04 EPS for the current year.

NetEase Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a yield of 4.64%. The ex-dividend date of this dividend was Wednesday, March 13th. This is an increase from NetEase’s previous quarterly dividend of $0.50. NetEase’s dividend payout ratio is 67.93%.

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.