Cederberg Capital Ltd Cuts Holdings in NetEase, Inc. $NTES

Cederberg Capital Ltd reduced its holdings in shares of NetEase, Inc. (NASDAQ:NTES) by 11.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 569,475 shares of the technology company’s stock after selling 75,500 shares during the period. NetEase accounts for approximately 24.7% of Cederberg Capital Ltd’s investment portfolio, making the stock its 2nd biggest holding. Cederberg Capital Ltd owned approximately 0.09% of NetEase worth $86,555,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Cornerstone Planning Group LLC acquired a new position in shares of NetEase in the 3rd quarter valued at about $33,000. Steigerwald Gordon & Koch Inc. acquired a new stake in NetEase during the third quarter worth approximately $38,000. First Horizon Corp bought a new stake in NetEase in the third quarter worth approximately $45,000. Mather Group LLC. bought a new stake in NetEase in the third quarter worth approximately $46,000. Finally, Spire Wealth Management lifted its stake in NetEase by 29.2% in the third quarter. Spire Wealth Management now owns 332 shares of the technology company’s stock valued at $50,000 after buying an additional 75 shares during the period. 11.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Wall Street Zen cut NetEase from a “buy” rating to a “hold” rating in a report on Sunday, November 23rd. Benchmark reiterated a “buy” rating on shares of NetEase in a research report on Thursday, February 12th. Nomura cut their target price on shares of NetEase from $160.00 to $155.00 and set a “buy” rating on the stock in a research note on Friday, February 13th. Sanford C. Bernstein set a $155.00 price target on shares of NetEase in a report on Friday, November 21st. Finally, Barclays decreased their price target on shares of NetEase from $135.00 to $132.00 and set an “equal weight” rating for the company in a research note on Thursday, February 12th. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $153.89.

NetEase Stock Performance

Shares of NetEase stock opened at $117.51 on Friday. The stock has a market capitalization of $74.45 billion, a PE ratio of 16.01, a price-to-earnings-growth ratio of 1.48 and a beta of 0.74. NetEase, Inc. has a 52 week low of $88.54 and a 52 week high of $159.55. The stock has a 50 day moving average price of $126.28 and a two-hundred day moving average price of $137.15.

NetEase Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Monday, March 16th will be issued a $1.16 dividend. The ex-dividend date is Monday, March 16th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 3.9%. This is an increase from NetEase’s previous quarterly dividend of $0.57. NetEase’s dividend payout ratio (DPR) is 30.93%.

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.