E Fund Management Hong Kong Co. Ltd. trimmed its position in shares of NetEase, Inc. (NASDAQ:NTES) by 7.1% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 103,225 shares of the technology company’s stock after selling 7,856 shares during the period. NetEase makes up about 7.4% of E Fund Management Hong Kong Co. Ltd.’s holdings, making the stock its 5th biggest holding. E Fund Management Hong Kong Co. Ltd.’s holdings in NetEase were worth $11,897,000 as of its most recent filing with the SEC. Other hedge funds have also recently made changes to their positions in the company. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in NetEase during the 1st quarter valued at about $27,000. Thompson Siegel & Walmsley LLC purchased a new stake in NetEase during the 1st quarter valued at about $62,000. Nkcfo LLC purchased a new stake in NetEase during the 2nd quarter valued at about $104,000. Marshall Wace LLP grew its position in NetEase by 151.2% during the 1st quarter. Marshall Wace LLP now owns 638 shares of the technology company’s stock valued at $154,000 after purchasing an additional 384 shares during the last quarter. Finally, Quadrant Capital Group LLC grew its position in NetEase by 31.5% during the 1st quarter. Quadrant Capital Group LLC now owns 1,504 shares of the technology company’s stock valued at $155,000 after purchasing an additional 360 shares during the last quarter. 34.59% of the stock is currently owned by institutional investors. Shares of NASDAQ:NTES traded down $2.34 during trading on Friday, hitting $89.66. The company’s stock had a trading volume of 2,204,547 shares, compared to its average volume of 2,464,969. The company has a 50-day simple moving average of $105.67. NetEase, Inc. has a 12 month low of $82.50 and a 12 month high of $134.33. The firm has a market cap of $60.06 billion, a price-to-earnings ratio of 31.59, a price-to-earnings-growth ratio of 1.26 and a beta of 0.42. The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 18th. Stockholders of record on Thursday, June 3rd were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.27%. The ex-dividend date of this dividend was Wednesday, June 2nd. NetEase’s dividend payout ratio (DPR) is presently 43.12%. Several analysts recently commented on the stock. Citigroup cut their price objective on shares of NetEase from $148.00 to $132.00 and set a “buy” rating on the stock in a research report on Wednesday, July 28th. CLSA lowered their target price on shares of NetEase from $159.00 to $134.00 and set a “buy” rating on the stock in a research note on Wednesday, May 19th. Macquarie lowered their target price on shares of NetEase from $124.00 to $118.00 and set an “in-line” rating on the stock in a research note on Wednesday, May 19th. UBS Group upped their target price on shares of NetEase from $133.00 to $139.00 and gave the company a “buy” rating in a research note on Wednesday, May 19th. Finally, Zacks Investment Research upgraded shares of NetEase from a “hold” rating to a “buy” rating and set a $127.00 target price on the stock in a research note on Friday, July 23rd. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $127.00. NetEase Profile NetEase, Inc is an internet technology company, which premium online services centered around content, community, communication and commerce. It develops and operates some of the most popular PC-client and mobile games in China. The firm also operates some of the most popular international online games in China by partnering with Blizzard Entertainment, Mojang AB (a Microsoft subsidiary) and other global game developers. Featured Story: What are catch-up contributions? Want to see what other hedge funds are holding NTES? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NetEase, Inc. (NASDAQ:NTES). Receive News & Ratings for NetEase Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NetEase and related companies with [MarketBeat.com's FREE daily email newsletter](/daily-email-updates-basic/?symbol=NASDAQ:NTES&c=NetEase) .
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