M&T Bank Corp Has $2.82 Million Stake in NetEase, Inc. (NASDAQ:NTES)

M&T Bank Corp trimmed its stake in shares of NetEase, Inc. (NASDAQ:NTES) by 14.6% during the first quarter, HoldingsChannel reports. The fund owned 27,426 shares of the technology company’s stock after selling 4,695 shares during the period. M&T Bank Corp’s holdings in NetEase were worth $2,823,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC increased its stake in NetEase by 1.1% in the 4th quarter. Brighton Jones LLC now owns 10,297 shares of the technology company’s stock valued at $919,000 after buying an additional 117 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in NetEase in the 4th quarter valued at $2,192,000. HighTower Advisors LLC increased its stake in NetEase by 112.1% in the 4th quarter. HighTower Advisors LLC now owns 8,330 shares of the technology company’s stock valued at $743,000 after buying an additional 4,402 shares during the last quarter. Farther Finance Advisors LLC increased its stake in NetEase by 81.7% in the 4th quarter. Farther Finance Advisors LLC now owns 338 shares of the technology company’s stock valued at $30,000 after buying an additional 152 shares during the last quarter. Finally, Aurora Investment Counsel increased its stake in NetEase by 9.1% in the 4th quarter. Aurora Investment Counsel now owns 28,692 shares of the technology company’s stock valued at $2,560,000 after buying an additional 2,387 shares during the last quarter. 11.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NTES has been the topic of several recent research reports. Barclays lifted their price target on shares of NetEase from $104.00 to $118.00 and gave the company an “equal weight” rating in a research note on Friday, May 16th. Wall Street Zen upgraded shares of NetEase from a “buy” rating to a “strong-buy” rating in a research note on Thursday, May 22nd. Deutsche Bank Aktiengesellschaft started coverage on shares of NetEase in a research note on Monday, May 12th. They issued a “buy” rating and a $130.00 price target on the stock. Finally, JPMorgan Chase & Co. lifted their price objective on shares of NetEase from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Monday, May 19th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $119.38.

NetEase Price Performance

Shares of NTES opened at $128.28 on Friday. The firm has a 50-day moving average of $124.63 and a 200-day moving average of $108.41. NetEase, Inc. has a one year low of $75.85 and a one year high of $135.32. The company has a market cap of $81.28 billion, a PE ratio of 18.46, a price-to-earnings-growth ratio of 4.44 and a beta of 0.69.

NetEase Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were given a $0.675 dividend. This represents a $2.70 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date was Friday, May 30th. NetEase’s dividend payout ratio (DPR) is presently 38.71%.

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.