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

Mendota Financial Group LLC trimmed its position in shares of NetEase, Inc. (NASDAQ:NTES) by 25.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. SYSTM Wealth Solutions LLC lifted its holdings in NetEase by 55.5% in 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 period. Ariadne Wealth Management LP bought a new stake in NetEase during the second quarter valued at approximately $35,000. Highline Wealth Partners LLC purchased a new stake in NetEase during the third quarter valued at approximately $45,000. RPg Family Wealth Advisory LLC purchased a new position in shares of NetEase during the 3rd quarter worth $70,000. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of NetEase during the 3rd quarter valued at $76,000. 11.07% of the stock is currently owned by hedge funds and other institutional investors.

NetEase Price Performance

NASDAQ:NTES opened at $94.25 on Tuesday. The company has a market cap of $60.52 billion, a price-to-earnings ratio of 15.92, a PEG ratio of 3.53 and a beta of 0.57. NetEase, Inc. has a 1 year low of $75.85 and a 1 year high of $114.50. The stock’s 50 day simple moving average is $88.80 and its two-hundred day simple moving average is $87.72.

NetEase Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were issued a $0.435 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.74 dividend on an annualized basis and a dividend yield of 1.85%. NetEase’s dividend payout ratio (DPR) is presently 29.22%.

Analysts Set New Price Targets

NTES has been the topic of several analyst reports. StockNews.com downgraded NetEase from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 6th. Citigroup boosted their price objective on NetEase from $108.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Morgan Stanley upgraded shares of NetEase from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $90.00 to $108.00 in a research note on Wednesday, January 8th. Finally, Benchmark dropped their price target 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. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $108.43.

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.