WCM Investment Management LLC Lowers Stock Holdings in NetEase, Inc. (NASDAQ:NTES)

WCM Investment Management LLC lowered its stake in NetEase, Inc. (NASDAQ:NTES) by 4.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 7,549 shares of the technology company’s stock after selling 339 shares during the quarter. WCM Investment Management LLC’s holdings in NetEase were worth $674,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brooklyn Investment Group purchased a new position in shares of NetEase in the 4th quarter worth about $34,000. UMB Bank n.a. increased its stake in NetEase by 33.3% during the 4th 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 in the last quarter. Highline Wealth Partners LLC purchased a new position in NetEase in the third quarter worth about $45,000. RPg Family Wealth Advisory LLC bought a new position in shares of NetEase in the third quarter worth approximately $70,000. Finally, Allspring Global Investments Holdings LLC purchased a new stake in shares of NetEase during the third quarter valued at approximately $76,000. Institutional investors own 11.07% of the company’s stock.

NetEase Trading Up 0.7 %

Shares of NTES opened at $104.93 on Tuesday. The company’s fifty day simple moving average is $95.61 and its 200-day simple moving average is $88.81. The company has a market cap of $67.38 billion, a P/E ratio of 17.72, a P/E/G ratio of 3.45 and a beta of 0.58. NetEase, Inc. has a twelve month low of $75.85 and a twelve month high of $114.50.

NetEase Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were paid a dividend of $0.435 per share. This represents a $1.74 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date was Friday, November 29th. NetEase’s dividend payout ratio is currently 29.22%.

Analyst Ratings Changes

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

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.