PNC Financial Services Group Inc. Sells 125 Shares of NetEase, Inc. (NTES)

PNC Financial Services Group Inc. reduced its stake in shares of NetEase, Inc. (NASDAQ:NTES) by 22.2% during the first quarter, according to its most recent filing with the SEC. The fund owned 438 shares of the technology company’s stock after selling 125 shares during the period. PNC Financial Services Group Inc.’s holdings in NetEase were worth $124,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the stock. Migdal Insurance & Financial Holdings Ltd. acquired a new position in NetEase during the fourth quarter valued at about $9,912,000. UBS Asset Management Americas Inc. boosted its position in NetEase by 9.8% in the fourth quarter. UBS Asset Management Americas Inc. now owns 833,766 shares of the technology company’s stock valued at $179,544,000 after buying an additional 74,585 shares during the period. USA Financial Portformulas Corp boosted its position in NetEase by 308.1% in the fourth quarter. USA Financial Portformulas Corp now owns 29,359 shares of the technology company’s stock valued at $6,322,000 after buying an additional 22,165 shares during the period. Teachers Advisors LLC boosted its position in NetEase by 6.5% in the fourth quarter. Teachers Advisors LLC now owns 32,783 shares of the technology company’s stock valued at $7,059,000 after buying an additional 2,000 shares during the period. Finally, Searle & CO. acquired a new position in NetEase during the fourth quarter valued at about $377,000. 55.53% of the stock is currently owned by institutional investors and hedge funds.

NetEase, Inc. (NASDAQ NTES) opened at 280.96 on Friday. NetEase, Inc. has a 12 month low of $199.13 and a 12 month high of $337.55.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 25th will be given a dividend of $0.83 per share. The ex-dividend date is Wednesday, August 23rd. This represents a $3.32 dividend on an annualized basis and a dividend yield of 1.18%. NetEase’s payout ratio is currently 24.73%.

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Several equities analysts have recently weighed in on the company. Benchmark Co. assumed coverage on NetEase in a report on Tuesday, April 18th. They set a “buy” rating and a $325.00 price target on the stock. Jefferies Group LLC reissued a “buy” rating and set a $300.00 price target on shares of NetEase in a report on Wednesday, April 26th. Instinet reissued a “buy” rating and set a $307.00 price target on shares of NetEase in a report on Tuesday, May 9th. Nomura reissued a “hold” rating and set a $297.00 price target (down from $305.00) on shares of NetEase in a report on Thursday, May 11th. Finally, Vetr cut NetEase from a “strong-buy” rating to a “buy” rating and set a $318.49 price target on the stock. in a report on Tuesday, May 16th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $301.90.

About NetEase

NetEase, Inc (NetEase) is a technology company. The Company operates an interactive online community in China and is a provider of Chinese language content and services through its online games, Internet media, e-mail, e-commerce and other businesses. The Company operates through three segments: Online Game Services; Advertising Services, and E-mail, E-commerce and Others.

Institutional Ownership by Quarter for NetEase (NASDAQ:NTES)

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