NetEase Inc. (NTES) Position Cut by Vontobel Asset Management Inc.
Vontobel Asset Management Inc. lowered its stake in shares of NetEase Inc. (NASDAQ:NTES) by 4.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,315,348 shares of the company’s stock after selling 97,331 shares during the period. NetEase comprises about 4.4% of Vontobel Asset Management Inc.’s portfolio, making the stock its 6th largest position. Vontobel Asset Management Inc. owned approximately 1.77% of NetEase worth $564,610,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of NTES. Envestnet Asset Management Inc. raised its position in NetEase by 856.7% in the first quarter. Envestnet Asset Management Inc. now owns 14,255 shares of the company’s stock valued at $2,047,000 after buying an additional 12,765 shares during the last quarter. Natixis raised its position in shares of NetEase by 40.4% in the first quarter. Natixis now owns 2,424 shares of the company’s stock valued at $348,000 after buying an additional 698 shares during the last quarter. Seven Eight Capital LLC purchased a new position in shares of NetEase during the first quarter valued at $543,000. Origin Asset Management LLP raised its position in shares of NetEase by 29.8% in the first quarter. Origin Asset Management LLP now owns 486,724 shares of the company’s stock valued at $69,884,000 after buying an additional 111,833 shares during the last quarter. Finally, BNP Paribas Arbitrage SA raised its position in shares of NetEase by 71.4% in the second quarter. BNP Paribas Arbitrage SA now owns 198,627 shares of the company’s stock valued at $38,379,000 after buying an additional 82,761 shares during the last quarter. 59.64% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NetEase Inc. (NASDAQ:NTES) traded up 1.45% during mid-day trading on Monday, hitting $234.16. The company’s stock had a trading volume of 780,421 shares. NetEase Inc. has a 1-year low of $129.60 and a 1-year high of $272.58. The company has a 50-day moving average of $0.00 and a 200 day moving average of $0.00.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 2nd. Shareholders of record on Friday, November 25th will be paid a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 1.33%. The ex-dividend date is Tuesday, November 22nd. NetEase’s dividend payout ratio is 23.26%.
Several brokerages have weighed in on NTES. CICC Research raised NetEase to a “buy” rating and set a $345.00 target price on the stock in a research report on Wednesday, October 12th. T.H. Capital reaffirmed a “buy” rating and issued a $297.00 target price (up from $227.00) on shares of NetEase in a research report on Thursday, October 13th. Vetr raised NetEase from a “buy” rating to a “strong-buy” rating and set a $294.91 target price on the stock in a research report on Tuesday, November 1st. Morgan Stanley upped their target price on NetEase from $195.00 to $233.00 and gave the stock an “overweight” rating in a research report on Thursday, November 10th. Finally, Jefferies Group reaffirmed a “hold” rating and issued a $245.00 target price on shares of NetEase in a research report on Thursday, November 10th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. NetEase currently has an average rating of “Buy” and a consensus target price of $247.53.
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.
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