Logan Capital Management Inc. Sells 119 Shares of NetEase, Inc. (NASDAQ:NTES)

Logan Capital Management Inc. lessened its holdings in NetEase, Inc. (NASDAQ:NTES) by 0.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,026 shares of the technology company’s stock after selling 119 shares during the quarter. Logan Capital Management Inc.’s holdings in NetEase were worth $1,779,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in NTES. Franklin Resources Inc. increased its position in NetEase by 7.9% in the 3rd quarter. Franklin Resources Inc. now owns 6,915 shares of the technology company’s stock valued at $588,000 after acquiring an additional 507 shares during the period. World Investment Advisors LLC bought a new stake in shares of NetEase in the third quarter worth $4,138,000. Sanctuary Advisors LLC increased its holdings in NetEase by 5.6% in the third quarter. Sanctuary Advisors LLC now owns 13,245 shares of the technology company’s stock valued at $1,145,000 after purchasing an additional 701 shares during the period. Advisory Resource Group raised its position in NetEase by 22.0% during the 3rd quarter. Advisory Resource Group now owns 12,626 shares of the technology company’s stock worth $1,181,000 after purchasing an additional 2,281 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in NetEase during the 3rd quarter worth $11,636,000. 11.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Barclays decreased their price target on NetEase from $104.00 to $82.00 and set an “equal weight” rating for the company in a research note on Monday, August 26th. Citigroup increased their target price on shares of NetEase from $108.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Jefferies Financial Group lowered their price target on shares of NetEase from $126.00 to $103.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Benchmark decreased their price objective on shares of NetEase from $120.00 to $105.00 and set a “buy” rating for the company in a research report on Friday, November 15th. Finally, StockNews.com downgraded shares of NetEase from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 6th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, NetEase currently has an average rating of “Moderate Buy” and a consensus target price of $107.29.

NetEase Stock Down 0.9 %

Shares of NASDAQ NTES opened at $95.45 on Friday. The firm has a market cap of $61.29 billion, a PE ratio of 16.12, a P/E/G ratio of 3.58 and a beta of 0.57. The company’s fifty day simple moving average is $85.60 and its 200 day simple moving average is $87.90. NetEase, Inc. has a 12-month low of $75.85 and a 12-month high of $114.50.

NetEase Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were paid a $0.435 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.74 annualized dividend and a dividend yield of 1.82%. NetEase’s dividend payout ratio is presently 29.22%.

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.