OLD National Bancorp IN Cuts Stock Position in NetEase, Inc. (NASDAQ:NTES)

OLD National Bancorp IN lowered its holdings in shares of NetEase, Inc. (NASDAQ:NTES) by 3.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 3,452 shares of the technology company’s stock after selling 110 shares during the quarter. OLD National Bancorp IN’s holdings in NetEase were worth $308,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Brooklyn Investment Group purchased a new stake in shares of NetEase during the 4th quarter valued at about $34,000. UMB Bank n.a. raised its position in NetEase by 33.3% during the fourth quarter. UMB Bank n.a. now owns 444 shares of the technology company’s stock valued at $40,000 after purchasing an additional 111 shares during the period. Highline Wealth Partners LLC bought a new stake in shares of NetEase in the 3rd quarter valued at approximately $45,000. RPg Family Wealth Advisory LLC purchased a new position in shares of NetEase in the 3rd quarter worth approximately $70,000. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of NetEase during the 3rd quarter valued at approximately $76,000. 11.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NTES has been the subject of a number of analyst reports. Citigroup raised their price target on NetEase from $108.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Benchmark dropped their price target on shares of NetEase from $120.00 to $105.00 and set a “buy” rating for the company in a research note on Friday, November 15th. Bank of America increased their price objective on shares of NetEase from $120.00 to $122.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. StockNews.com downgraded shares of NetEase from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 6th. Finally, Morgan Stanley raised NetEase from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $90.00 to $108.00 in a research note on Wednesday, January 8th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, NetEase has an average rating of “Moderate Buy” and an average price target of $108.71.

NetEase Stock Performance

Shares of NASDAQ:NTES opened at $102.85 on Monday. The firm’s 50 day simple moving average is $93.98 and its 200-day simple moving average is $88.50. NetEase, Inc. has a one year low of $75.85 and a one year high of $114.50. The firm has a market cap of $66.05 billion, a PE ratio of 17.37, a price-to-earnings-growth ratio of 3.37 and a beta of 0.57.

NetEase Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were issued a dividend of $0.435 per share. The ex-dividend date was Friday, November 29th. This represents a $1.74 annualized dividend and a yield of 1.69%. NetEase’s payout ratio is currently 29.22%.

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.