Capital World Investors Reduces Stock Position in NetEase, Inc. $NTES

Capital World Investors reduced its holdings in NetEase, Inc. (NASDAQ:NTES) by 2.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,507,792 shares of the technology company’s stock after selling 45,175 shares during the period. Capital World Investors’ holdings in NetEase were worth $207,502,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in NTES. Brighton Jones LLC lifted its holdings in shares of NetEase by 1.1% in the 4th quarter. Brighton Jones LLC now owns 10,297 shares of the technology company’s stock worth $919,000 after acquiring an additional 117 shares during the last quarter. Strs Ohio bought a new stake in shares of NetEase in the 1st quarter worth about $63,000. EverSource Wealth Advisors LLC lifted its holdings in shares of NetEase by 106.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 542 shares of the technology company’s stock worth $73,000 after acquiring an additional 280 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of NetEase by 287.4% in the 2nd quarter. First Trust Advisors LP now owns 91,571 shares of the technology company’s stock worth $12,324,000 after acquiring an additional 67,934 shares during the last quarter. Finally, Walleye Capital LLC lifted its holdings in shares of NetEase by 670.9% in the 2nd quarter. Walleye Capital LLC now owns 5,265 shares of the technology company’s stock worth $709,000 after acquiring an additional 4,582 shares during the last quarter. 11.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NTES has been the subject of several analyst reports. Morgan Stanley restated an “overweight” rating and issued a $158.00 target price on shares of NetEase in a report on Tuesday, May 26th. Barclays lowered their target price on shares of NetEase from $135.00 to $132.00 and set an “equal weight” rating for the company in a report on Thursday, February 12th. Nomura lowered their target price on shares of NetEase from $160.00 to $155.00 and set a “buy” rating for the company in a report on Friday, February 13th. Citigroup reiterated a “buy” rating on shares of NetEase in a report on Wednesday, February 11th. Finally, Benchmark reiterated a “buy” rating on shares of NetEase in a report on Friday, May 22nd. Seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, NetEase currently has an average rating of “Moderate Buy” and an average price target of $157.38.

NetEase Stock Performance

NASDAQ NTES opened at $118.70 on Tuesday. The company’s 50-day simple moving average is $116.04 and its two-hundred day simple moving average is $124.70. NetEase, Inc. has a one year low of $106.06 and a one year high of $159.55. The company has a market capitalization of $75.78 billion, a price-to-earnings ratio of 15.76, a price-to-earnings-growth ratio of 1.66 and a beta of 0.72.

NetEase Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Friday, June 5th will be given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Friday, June 5th. NetEase’s payout ratio is currently 38.11%.

NetEase 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.