Swedbank AB Grows Stock Holdings in NetEase, Inc. $NTES

Swedbank AB lifted its holdings in NetEase, Inc. (NASDAQ:NTES) by 18.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 142,100 shares of the technology company’s stock after acquiring an additional 22,000 shares during the quarter. Swedbank AB’s holdings in NetEase were worth $21,598,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC grew its position in NetEase by 20.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 966 shares of the technology company’s stock worth $147,000 after purchasing an additional 162 shares during the period. Exchange Traded Concepts LLC boosted its stake in shares of NetEase by 139.0% in the third quarter. Exchange Traded Concepts LLC now owns 50,244 shares of the technology company’s stock worth $7,637,000 after buying an additional 29,222 shares during the last quarter. Baldwin Wealth Partners LLC MA acquired a new stake in NetEase during the third quarter worth about $204,000. AdvisorNet Financial Inc raised its position in NetEase by 7.2% during the third quarter. AdvisorNet Financial Inc now owns 1,501 shares of the technology company’s stock valued at $228,000 after acquiring an additional 101 shares in the last quarter. Finally, Marshall Financial Group LLC lifted its holdings in NetEase by 3.5% in the third quarter. Marshall Financial Group LLC now owns 9,065 shares of the technology company’s stock valued at $1,378,000 after acquiring an additional 306 shares during the period. 11.07% of the stock is currently owned by institutional investors and hedge funds.

NetEase Stock Up 0.7%

Shares of NASDAQ NTES opened at $138.07 on Friday. The firm has a market cap of $87.48 billion, a price-to-earnings ratio of 17.63, a price-to-earnings-growth ratio of 1.64 and a beta of 0.68. The company’s 50-day simple moving average is $139.88 and its 200-day simple moving average is $138.83. NetEase, Inc. has a 52-week low of $87.67 and a 52-week high of $159.55.

NetEase Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, December 5th were paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 1.7%. The ex-dividend date was Friday, December 5th. NetEase’s payout ratio is 28.99%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Morgan Stanley reaffirmed an “overweight” rating and set a $170.00 price objective on shares of NetEase in a research note on Wednesday, October 8th. Weiss Ratings restated a “hold (c)” rating on shares of NetEase in a research report on Monday. JPMorgan Chase & Co. upgraded shares of NetEase from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $138.00 to $190.00 in a research report on Friday, October 10th. Wall Street Zen lowered shares of NetEase from a “buy” rating to a “hold” rating in a research note on Sunday, November 23rd. Finally, Arete Research upgraded NetEase from a “sell” rating to a “buy” rating and set a $150.00 price target for the company in a research note on Wednesday, September 3rd. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $152.33.

About NetEase

NetEase, Inc (NASDAQ: NTES) is a Chinese technology company headquartered in Hangzhou that develops and operates Internet services and products. Founded in 1997 by William Ding (Ding Lei), the company has grown from an early web portal and e-mail provider into a diversified online services group. William Ding has served as the company’s founder and long-time leader, guiding its expansion into games, digital content and consumer services.

The company’s primary business is interactive entertainment: NetEase Games designs, develops and publishes PC and mobile games for domestic and international audiences, offering a mix of self-developed franchises and titles published under licensing and strategic partnerships.