M&T Bank Corp Lowers Stake in NetEase, Inc. (NASDAQ:NTES)

M&T Bank Corp reduced its stake in shares of NetEase, Inc. (NASDAQ:NTES) by 1.5% in the fourth quarter, Holdings Channel reports. The firm owned 32,121 shares of the technology company’s stock after selling 491 shares during the period. M&T Bank Corp’s holdings in NetEase were worth $2,866,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in NTES. Brooklyn Investment Group purchased a new stake in shares of NetEase during the fourth quarter valued at $34,000. UMB Bank n.a. boosted its stake in shares of 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. Live Oak Investment Partners purchased a new stake in shares of NetEase during the fourth quarter valued at $62,000. RPg Family Wealth Advisory LLC purchased a new stake in shares of NetEase during the third quarter valued at $70,000. Finally, Avior Wealth Management LLC boosted its stake in shares of NetEase by 148.9% during the fourth quarter. Avior Wealth Management LLC now owns 993 shares of the technology company’s stock valued at $89,000 after purchasing an additional 594 shares during the period. 11.07% of the stock is owned by hedge funds and other institutional investors.

NetEase Stock Performance

Shares of NetEase stock opened at $102.78 on Friday. The company has a market capitalization of $66.00 billion, a PE ratio of 16.14, a P/E/G ratio of 3.37 and a beta of 0.61. The company has a 50-day simple moving average of $99.41 and a two-hundred day simple moving average of $90.52. NetEase, Inc. has a one year low of $75.85 and a one year high of $111.12.

NetEase (NASDAQ:NTES) last announced its earnings results on Thursday, February 20th. The technology company reported $1.87 EPS for the quarter, topping analysts’ consensus estimates of $1.73 by $0.14. NetEase had a net margin of 28.17% and a return on equity of 22.12%. The business had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $27.16 billion. On average, equities analysts predict that NetEase, Inc. will post 6.91 earnings per share for the current fiscal year.

NetEase Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th will be issued a dividend of $0.435 per share. The ex-dividend date is Thursday, March 6th. This represents a $1.74 annualized dividend and a dividend yield of 1.69%. NetEase’s dividend payout ratio (DPR) is currently 76.45%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on NTES. StockNews.com lowered shares of NetEase from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 6th. Citigroup upped their price objective on shares of NetEase from $108.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Barclays upped their price objective on shares of NetEase from $82.00 to $104.00 and gave the stock an “equal weight” rating in a research note on Monday, February 24th. Morgan Stanley upped their price objective on shares of NetEase from $108.00 to $117.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Finally, Benchmark upped their price objective on shares of NetEase from $105.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, NetEase currently has a consensus rating of “Moderate Buy” and a consensus target price of $114.57.

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.