Lazard Asset Management LLC reduced its position in NetEase, Inc. (NASDAQ:NTES) by 0.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,388,303 shares of the technology company’s stock after selling 18,764 shares during the quarter. NetEase accounts for about 2.1% of Lazard Asset Management LLC’s holdings, making the stock its 6th largest holding. Lazard Asset Management LLC owned approximately 2.58% of NetEase worth $1,018,625,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of NTES. Canada Pension Plan Investment Board boosted its holdings in shares of NetEase by 13,818.2% in the 1st quarter. Canada Pension Plan Investment Board now owns 7,655 shares of the technology company’s stock worth $2,174,000 after purchasing an additional 7,600 shares in the last quarter. US Bancorp DE boosted its holdings in shares of NetEase by 11.4% in the 1st quarter. US Bancorp DE now owns 3,991 shares of the technology company’s stock worth $1,133,000 after purchasing an additional 410 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of NetEase by 1.6% in the 1st quarter. Bank of New York Mellon Corp now owns 131,677 shares of the technology company’s stock worth $37,396,000 after purchasing an additional 2,104 shares in the last quarter. Suntrust Banks Inc. boosted its holdings in shares of NetEase by 2.6% in the 1st quarter. Suntrust Banks Inc. now owns 1,512 shares of the technology company’s stock worth $429,000 after purchasing an additional 39 shares in the last quarter. Finally, Comerica Bank boosted its holdings in shares of NetEase by 2.6% in the 1st quarter. Comerica Bank now owns 8,074 shares of the technology company’s stock worth $2,145,000 after purchasing an additional 204 shares in the last quarter. Hedge funds and other institutional investors own 50.38% of the company’s stock.

Shares of NetEase, Inc. (NASDAQ NTES) traded up 6.84% during midday trading on Monday, reaching $289.61. The company had a trading volume of 1,740,871 shares. NetEase, Inc. has a 52 week low of $211.11 and a 52 week high of $337.55. The firm has a market capitalization of $38.17 billion, a price-to-earnings ratio of 18.99 and a beta of 0.96. The stock has a 50-day moving average of $282.13 and a 200 day moving average of $288.53.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 25th were paid a dividend of $0.83 per share. The ex-dividend date of this dividend was Wednesday, August 23rd. This represents a $3.32 annualized dividend and a yield of 1.22%. NetEase’s payout ratio is currently 25.07%.

NTES has been the subject of a number of research reports. Zacks Investment Research cut NetEase from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. BidaskClub upgraded NetEase from a “hold” rating to a “buy” rating in a report on Friday, July 14th. ValuEngine cut NetEase from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Jefferies Group LLC reiterated a “buy” rating and issued a $330.00 price objective on shares of NetEase in a report on Friday, June 16th. Finally, Standpoint Research cut NetEase from a “buy” rating to a “reduce” rating and upped their price objective for the stock from $345.00 to $360.00 in a report on Wednesday, June 7th. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. NetEase currently has a consensus rating of “Hold” and an average price target of $306.40.

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About NetEase

NetEase, Inc (NetEase) is a technology company. The Company operates an interactive online community in China and is a provider of Chinese language content and services through its online games, Internet media, e-mail, e-commerce and other businesses. The Company operates through three segments: Online Game Services; Advertising Services, and E-mail, E-commerce and Others.

Institutional Ownership by Quarter for NetEase (NASDAQ:NTES)

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