Handelsbanken Fonder AB Sells 10,000 Shares of NetEase, Inc. $NTES

Handelsbanken Fonder AB lessened its position in NetEase, Inc. (NASDAQ:NTES) by 2.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 502,115 shares of the technology company’s stock after selling 10,000 shares during the quarter. Handelsbanken Fonder AB owned 0.08% of NetEase worth $76,316,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Ninety One UK Ltd boosted its holdings in shares of NetEase by 0.5% in the 3rd quarter. Ninety One UK Ltd now owns 6,296,150 shares of the technology company’s stock worth $956,952,000 after purchasing an additional 28,381 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of NetEase by 2.1% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,977,146 shares of the technology company’s stock valued at $266,084,000 after buying an additional 40,871 shares in the last quarter. Man Group plc lifted its position in NetEase by 33.3% in the 2nd quarter. Man Group plc now owns 983,156 shares of the technology company’s stock worth $132,313,000 after buying an additional 245,872 shares during the last quarter. American Century Companies Inc. lifted its position in NetEase by 19.7% in the 2nd quarter. American Century Companies Inc. now owns 748,450 shares of the technology company’s stock worth $100,726,000 after buying an additional 122,951 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its stake in NetEase by 5.2% in the third quarter. BI Asset Management Fondsmaeglerselskab A S now owns 349,339 shares of the technology company’s stock worth $53,096,000 after buying an additional 17,144 shares in the last quarter. Hedge funds and other institutional investors own 11.07% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on NTES shares. Wall Street Zen downgraded shares of NetEase from a “buy” rating to a “hold” rating in a research note on Sunday, November 23rd. Benchmark reaffirmed a “buy” rating on shares of NetEase in a report on Thursday, February 12th. Barclays decreased their target price on shares of NetEase from $135.00 to $132.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 12th. Sanford C. Bernstein set a $155.00 price target on shares of NetEase in a research note on Friday, November 21st. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of NetEase in a research note on Monday, December 22nd. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $155.67.

NetEase Stock Down 0.2%

NASDAQ:NTES opened at $115.44 on Friday. The firm has a market capitalization of $73.14 billion, a P/E ratio of 15.73, a P/E/G ratio of 1.47 and a beta of 0.71. The company has a fifty day moving average of $131.27 and a 200 day moving average of $138.28. NetEase, Inc. has a 52 week low of $88.54 and a 52 week high of $159.55.

NetEase Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Monday, March 16th will be issued a dividend of $1.16 per share. The ex-dividend date is Monday, March 16th. This represents a $4.64 dividend on an annualized basis and a yield of 4.0%. This is a boost from NetEase’s previous quarterly dividend of $0.57. NetEase’s dividend payout ratio (DPR) is presently 30.93%.

NetEase Company Profile

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.