Fifth Third Bancorp Sells 2,405 Shares of NetEase, Inc. (NASDAQ:NTES)

Fifth Third Bancorp trimmed its holdings in NetEase, Inc. (NASDAQ:NTES) by 31.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,126 shares of the technology company’s stock after selling 2,405 shares during the quarter. Fifth Third Bancorp’s holdings in NetEase were worth $457,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Guinness Asset Management LTD increased its holdings in shares of NetEase by 16.7% in the third quarter. Guinness Asset Management LTD now owns 86,741 shares of the technology company’s stock worth $8,111,000 after purchasing an additional 12,410 shares during the last quarter. Assetmark Inc. increased its stake in NetEase by 27.3% in the 3rd quarter. Assetmark Inc. now owns 38,469 shares of the technology company’s stock worth $3,597,000 after acquiring an additional 8,248 shares during the last quarter. Cetera Investment Advisers raised its holdings in shares of NetEase by 56.8% during the 2nd quarter. Cetera Investment Advisers now owns 17,123 shares of the technology company’s stock worth $1,637,000 after acquiring an additional 6,203 shares in the last quarter. State of New Jersey Common Pension Fund D boosted its position in shares of NetEase by 87.0% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 75,282 shares of the technology company’s stock valued at $7,040,000 after acquiring an additional 35,031 shares during the last quarter. Finally, APEIRON CAPITAL Ltd boosted its position in shares of NetEase by 20.5% during the 4th quarter. APEIRON CAPITAL Ltd now owns 129,321 shares of the technology company’s stock valued at $11,537,000 after acquiring an additional 22,000 shares during the last quarter. 11.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on NTES. Benchmark dropped their price objective 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. StockNews.com lowered NetEase from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 6th. Citigroup raised their price objective on NetEase from $108.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Bank of America boosted their target price on NetEase from $120.00 to $122.00 and gave the company a “buy” rating in a research report on Wednesday, January 15th. Finally, Morgan Stanley upgraded NetEase from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $90.00 to $108.00 in a research report on Wednesday, January 8th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, NetEase has a consensus rating of “Moderate Buy” and an average price target of $108.71.

NetEase Stock Up 4.0 %

Shares of NetEase stock opened at $104.88 on Friday. The stock’s fifty day moving average is $93.33 and its two-hundred day moving average is $88.35. NetEase, Inc. has a 52 week low of $75.85 and a 52 week high of $114.50. The company has a market capitalization of $67.35 billion, a PE ratio of 17.72, a price-to-earnings-growth ratio of 3.33 and a beta of 0.57.

NetEase Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were paid a $0.435 dividend. This represents a $1.74 annualized dividend and a yield of 1.66%. The ex-dividend date of this dividend was Friday, November 29th. NetEase’s dividend payout ratio is presently 29.22%.

About NetEase

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.