NetEase, Inc. $NTES Shares Acquired by Handelsbanken Fonder AB

Handelsbanken Fonder AB increased its holdings in shares of NetEase, Inc. (NASDAQ:NTES) by 2.8% during the second quarter, HoldingsChannel.com reports. The fund owned 434,115 shares of the technology company’s stock after buying an additional 12,000 shares during the period. Handelsbanken Fonder AB’s holdings in NetEase were worth $55,627,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of NTES. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in NetEase by 68,860.6% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,551,117 shares of the technology company’s stock worth $1,299,684,000 after purchasing an additional 8,538,717 shares in the last quarter. Renaissance Technologies LLC lifted its position in NetEase by 25.2% during the first quarter. Renaissance Technologies LLC now owns 1,363,188 shares of the technology company’s stock worth $152,595,000 after buying an additional 274,500 shares in the last quarter. Bank of America Corp DE lifted its position in NetEase by 111.4% during the first quarter. Bank of America Corp DE now owns 1,325,317 shares of the technology company’s stock worth $148,356,000 after buying an additional 698,318 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in NetEase by 16.9% during the first quarter. Dimensional Fund Advisors LP now owns 1,079,110 shares of the technology company’s stock worth $120,697,000 after buying an additional 155,784 shares during the last quarter. Finally, Man Group plc grew its holdings in NetEase by 7.3% in the 3rd quarter. Man Group plc now owns 1,055,122 shares of the technology company’s stock valued at $160,368,000 after buying an additional 71,966 shares in the last quarter. Institutional investors and hedge funds own 11.07% of the company’s stock.

NetEase Stock Performance

NetEase stock opened at $133.41 on Tuesday. The company has a market capitalization of $85.42 billion, a PE ratio of 17.72, a price-to-earnings-growth ratio of 1.71 and a beta of 0.72. NetEase, Inc. has a fifty-two week low of $106.06 and a fifty-two week high of $159.55. The firm has a 50 day moving average price of $126.42 and a 200 day moving average price of $120.93.

NetEase Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Friday, June 5th were issued a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Friday, June 5th. NetEase’s payout ratio is currently 38.11%.

Insider Activity

In other NetEase news, General Counsel Paul William Boltz, Jr. sold 10,000 shares of the business’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $128.30, for a total transaction of $1,283,000.00. Following the sale, the general counsel directly owned 12,223 shares in the company, valued at $1,568,210.90. This represents a 45.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 54.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on NTES. The Goldman Sachs Group set a $169.00 price target on NetEase in a report on Wednesday, July 1st. Morgan Stanley reiterated an “overweight” rating and issued a $158.00 target price on shares of NetEase in a report on Tuesday, May 26th. Benchmark reissued a “buy” rating on shares of NetEase in a research note on Friday, May 22nd. Weiss Ratings lowered shares of NetEase from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, August 4th. Finally, Zacks Research lowered NetEase from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. Seven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $158.38.

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.