Bank of New York Mellon Corp Sells 64,009 Shares of NetEase Inc (NTES)

Bank of New York Mellon Corp lowered its position in NetEase Inc (NASDAQ:NTES) by 31.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 141,073 shares of the technology company’s stock after selling 64,009 shares during the period. Bank of New York Mellon Corp owned 0.11% of NetEase worth $35,645,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Artisan Partners Limited Partnership boosted its holdings in NetEase by 0.6% in the second quarter. Artisan Partners Limited Partnership now owns 1,121,223 shares of the technology company’s stock worth $283,299,000 after acquiring an additional 6,926 shares in the last quarter. Vontobel Asset Management Inc. purchased a new stake in shares of NetEase in the second quarter worth approximately $256,375,000. Krane Funds Advisors LLC raised its stake in shares of NetEase by 64.7% in the second quarter. Krane Funds Advisors LLC now owns 463,651 shares of the technology company’s stock worth $117,151,000 after purchasing an additional 182,082 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of NetEase by 3.9% in the second quarter. Dimensional Fund Advisors LP now owns 450,820 shares of the technology company’s stock worth $113,836,000 after purchasing an additional 16,789 shares during the last quarter. Finally, First Trust Advisors LP raised its stake in shares of NetEase by 30.1% in the second quarter. First Trust Advisors LP now owns 408,521 shares of the technology company’s stock worth $103,221,000 after purchasing an additional 94,593 shares during the last quarter. Institutional investors and hedge funds own 43.64% of the company’s stock.

Shares of NTES opened at $225.75 on Friday. The company has a market cap of $30.68 billion, a P/E ratio of 18.19, a price-to-earnings-growth ratio of 1.53 and a beta of 0.96. NetEase Inc has a 12 month low of $184.60 and a 12 month high of $377.64.

NetEase (NASDAQ:NTES) last issued its quarterly earnings results on Wednesday, November 14th. The technology company reported $1.80 EPS for the quarter, missing the Zacks’ consensus estimate of $2.10 by ($0.30). The business had revenue of $2.45 billion for the quarter, compared to analysts’ expectations of $2.42 billion. NetEase had a net margin of 9.22% and a return on equity of 12.66%. The business’s revenue was up 30.9% compared to the same quarter last year. During the same period in the previous year, the business posted $3.43 earnings per share. As a group, research analysts anticipate that NetEase Inc will post 7.27 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 7th. Investors of record on Friday, November 30th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date is Thursday, November 29th. NetEase’s payout ratio is 19.58%.

Several analysts have recently commented on the company. Zacks Investment Research raised NetEase from a “sell” rating to a “hold” rating in a research note on Tuesday, August 14th. Macquarie downgraded NetEase from an “outperform” rating to a “neutral” rating in a research note on Thursday, August 9th. BidaskClub raised NetEase from a “hold” rating to a “buy” rating in a research note on Tuesday, October 2nd. TheStreet raised NetEase from a “c+” rating to a “b” rating in a research note on Friday, August 10th. Finally, JPMorgan Chase & Co. lowered their price objective on NetEase from $290.00 to $265.00 and set an “overweight” rating for the company in a research note on Friday, August 10th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $298.10.

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About NetEase

NetEase, Inc operates an interactive online community in the People's Republic of China. The company operates through Online Game Services; E-Commerce; Advertising Services; and Email and Others segments. It offers various games in a range of genres through mobile devices and PCs, including role playing games, MMORPGs, battle arena games, simulation games, collectible card games, first-person shooter games, sandbox games, and other types of games to the Chinese market.

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Institutional Ownership by Quarter for NetEase (NASDAQ:NTES)

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