Mendota Financial Group LLC Sells 386 Shares of NetEase, Inc. (NASDAQ:NTES)

Mendota Financial Group LLC lowered its stake in shares of NetEase, Inc. (NASDAQ:NTES) by 25.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,122 shares of the technology company’s stock after selling 386 shares during the quarter. Mendota Financial Group LLC’s holdings in NetEase were worth $100,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. SYSTM Wealth Solutions LLC increased its position in NetEase by 55.5% during the second quarter. SYSTM Wealth Solutions LLC now owns 328 shares of the technology company’s stock valued at $31,000 after acquiring an additional 117 shares during the last quarter. State Street Corp boosted its stake in shares of NetEase by 0.3% during the 3rd quarter. State Street Corp now owns 56,729 shares of the technology company’s stock worth $5,305,000 after purchasing an additional 156 shares during the period. Financial Advocates Investment Management raised its position in NetEase by 5.4% in the 3rd quarter. Financial Advocates Investment Management now owns 4,647 shares of the technology company’s stock worth $435,000 after purchasing an additional 237 shares during the period. Brandes Investment Partners LP lifted its stake in NetEase by 1.2% in the second quarter. Brandes Investment Partners LP now owns 20,880 shares of the technology company’s stock worth $2,000,000 after purchasing an additional 248 shares during the last quarter. Finally, Financial Counselors Inc. boosted its position in shares of NetEase by 8.0% during the third quarter. Financial Counselors Inc. now owns 3,404 shares of the technology company’s stock valued at $318,000 after buying an additional 252 shares during the period. Hedge funds and other institutional investors own 11.07% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Citigroup raised their price target on NetEase from $108.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Benchmark cut their price target on shares of NetEase from $120.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, November 15th. 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 research report on Wednesday, January 8th. Finally, StockNews.com lowered shares of NetEase from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 6th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $108.43.

NetEase Stock Performance

NASDAQ:NTES opened at $94.25 on Tuesday. The firm has a 50-day simple moving average of $88.80 and a 200-day simple moving average of $87.72. NetEase, Inc. has a one year low of $75.85 and a one year high of $114.50. The firm has a market cap of $60.52 billion, a P/E ratio of 15.92, a P/E/G ratio of 3.53 and a beta of 0.57.

NetEase Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were issued a dividend of $0.435 per share. The ex-dividend date was Friday, November 29th. This represents a $1.74 dividend on an annualized basis and a yield of 1.85%. NetEase’s dividend payout ratio is currently 29.22%.

NetEase Company 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.