Ninety One UK Ltd Decreases Stock Holdings in NetEase, Inc. (NASDAQ:NTES)

Ninety One UK Ltd reduced its holdings in shares of NetEase, Inc. (NASDAQ:NTES) by 2.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 6,232,737 shares of the technology company’s stock after selling 162,139 shares during the quarter. NetEase makes up approximately 1.5% of Ninety One UK Ltd’s investment portfolio, making the stock its 21st largest position. Ninety One UK Ltd’s holdings in NetEase were worth $556,022,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cetera Investment Advisers raised its stake in shares of NetEase by 56.8% during the 2nd quarter. Cetera Investment Advisers now owns 17,123 shares of the technology company’s stock worth $1,637,000 after purchasing an additional 6,203 shares during the period. Sanctuary Advisors LLC purchased a new stake in NetEase during the second quarter worth about $1,204,000. Guinness Asset Management LTD boosted its stake in NetEase by 16.7% in the third quarter. Guinness Asset Management LTD now owns 86,741 shares of the technology company’s stock valued at $8,111,000 after acquiring an additional 12,410 shares during the last quarter. Exchange Traded Concepts LLC boosted its stake in NetEase by 1.7% in the third quarter. Exchange Traded Concepts LLC now owns 47,245 shares of the technology company’s stock valued at $4,418,000 after acquiring an additional 776 shares during the last quarter. Finally, Willner & Heller LLC grew its position in shares of NetEase by 10.2% during the 3rd quarter. Willner & Heller LLC now owns 3,952 shares of the technology company’s stock valued at $370,000 after acquiring an additional 365 shares during the period. Hedge funds and other institutional investors own 11.07% of the company’s stock.

NetEase Stock Down 2.4 %

NTES stock opened at $101.21 on Wednesday. The stock has a 50-day simple moving average of $94.35 and a two-hundred day simple moving average of $88.55. NetEase, Inc. has a twelve month low of $75.85 and a twelve month high of $114.50. The firm has a market capitalization of $64.99 billion, a PE ratio of 17.10, a PEG ratio of 3.44 and a beta of 0.58.

NetEase Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were issued a dividend of $0.435 per share. This represents a $1.74 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date of this dividend was Friday, November 29th. NetEase’s dividend payout ratio (DPR) is presently 29.22%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on NTES. StockNews.com downgraded NetEase from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 6th. Morgan Stanley raised NetEase from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $90.00 to $108.00 in a research report on Wednesday, January 8th. Citigroup lifted their price objective on NetEase from $108.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Bank of America upped their price objective on shares of NetEase from $120.00 to $122.00 and gave the company a “buy” rating in a report on Wednesday, January 15th. Finally, Benchmark cut their target price 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 investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $108.71.

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.