Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Has $90,000 Holdings in NetEase, Inc. (NASDAQ:NTES)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA cut its stake in NetEase, Inc. (NASDAQ:NTES) by 18.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 965 shares of the technology company’s stock after selling 225 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in NetEase were worth $90,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of NTES. Massachusetts Financial Services Co. MA grew its position in NetEase by 6.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,692,705 shares of the technology company’s stock worth $161,789,000 after acquiring an additional 103,102 shares during the last quarter. Point72 Hong Kong Ltd grew its position in NetEase by 109.0% during the 2nd quarter. Point72 Hong Kong Ltd now owns 1,213,323 shares of the technology company’s stock worth $115,969,000 after acquiring an additional 632,896 shares during the last quarter. Capital International Investors grew its position in NetEase by 1.1% during the 1st quarter. Capital International Investors now owns 1,052,966 shares of the technology company’s stock worth $108,950,000 after acquiring an additional 11,729 shares during the last quarter. Price T Rowe Associates Inc. MD bought a new stake in NetEase during the 1st quarter worth approximately $103,658,000. Finally, Lazard Asset Management LLC grew its position in NetEase by 804.5% during the 1st quarter. Lazard Asset Management LLC now owns 792,357 shares of the technology company’s stock worth $81,983,000 after acquiring an additional 704,753 shares during the last quarter. 11.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Barclays decreased their price target on NetEase from $104.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Monday, August 26th. StockNews.com lowered NetEase from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 20th. Bank of America decreased their price objective on NetEase from $142.00 to $120.00 and set a “buy” rating on the stock in a research report on Friday, August 23rd. Morgan Stanley reiterated an “equal weight” rating and issued a $100.00 price objective on shares of NetEase in a research report on Friday, July 5th. Finally, Jefferies Financial Group decreased their price objective on NetEase from $126.00 to $103.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, NetEase currently has an average rating of “Moderate Buy” and an average target price of $112.67.

NetEase Stock Down 2.0 %

NTES stock opened at $80.70 on Thursday. The business’s fifty day moving average is $83.89 and its 200-day moving average is $90.11. The company has a market cap of $51.82 billion, a P/E ratio of 13.16, a price-to-earnings-growth ratio of 1.76 and a beta of 0.55. NetEase, Inc. has a twelve month low of $75.85 and a twelve month high of $118.89.

NetEase (NASDAQ:NTES) last posted its quarterly earnings results on Thursday, August 22nd. The technology company reported $12.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $10.43. The company had revenue of $25.49 billion for the quarter, compared to the consensus estimate of $26.01 billion. NetEase had a return on equity of 22.30% and a net margin of 26.98%. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.75 EPS. Research analysts anticipate that NetEase, Inc. will post 6.05 earnings per share for the current fiscal year.

NetEase Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were paid a $0.435 dividend. This represents a $1.74 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date was Friday, September 6th. NetEase’s dividend payout ratio (DPR) is currently 28.22%.

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.