Generali Investments CEE investicni spolecnost a.s. Sells 4,900 Shares of NetEase, Inc. $NTES

Generali Investments CEE investicni spolecnost a.s. decreased its stake in shares of NetEase, Inc. (NASDAQ:NTES) by 29.8% during the 4th quarter, Holdings Channel reports. The institutional investor owned 11,525 shares of the technology company’s stock after selling 4,900 shares during the period. Generali Investments CEE investicni spolecnost a.s.’s holdings in NetEase were worth $1,586,000 at the end of the most recent reporting period.

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

NetEase Trading Down 0.6%

NASDAQ:NTES opened at $109.26 on Friday. NetEase, Inc. has a 1 year low of $88.54 and a 1 year high of $159.55. The stock has a 50-day moving average price of $120.84 and a two-hundred day moving average price of $135.61. The stock has a market cap of $69.23 billion, a price-to-earnings ratio of 14.89, a PEG ratio of 1.40 and a beta of 0.74.

NetEase Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Monday, March 16th were given a $1.16 dividend. The ex-dividend date was Monday, March 16th. This represents a $4.64 annualized dividend and a dividend yield of 4.2%. This is a boost from NetEase’s previous quarterly dividend of $0.57. NetEase’s payout ratio is presently 63.08%.

Wall Street Analyst Weigh In

Several research firms have issued reports on NTES. Morgan Stanley reaffirmed an “overweight” rating and set a $154.00 price objective on shares of NetEase in a report on Monday, March 2nd. Weiss Ratings restated a “hold (c)” rating on shares of NetEase in a research report on Monday, December 22nd. Benchmark reaffirmed a “buy” rating on shares of NetEase in a research note on Thursday, February 12th. Nomura decreased their price target on NetEase from $160.00 to $155.00 and set a “buy” rating on the stock in a report on Friday, February 13th. Finally, Citigroup reiterated a “buy” rating on shares of NetEase in a research report on Wednesday, February 11th. Eight research 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 $153.89.

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.