Swedbank AB raised its stake in NetEase, Inc. (NASDAQ:NTES – Free Report) by 35.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 192,100 shares of the technology company’s stock after purchasing an additional 50,000 shares during the quarter. Swedbank AB’s holdings in NetEase were worth $26,437,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Cornerstone Planning Group LLC purchased a new stake in shares of NetEase in the third quarter worth approximately $33,000. Smartleaf Asset Management LLC raised its stake in shares of NetEase by 3,381.8% in the second quarter. Smartleaf Asset Management LLC now owns 383 shares of the technology company’s stock worth $51,000 after purchasing an additional 372 shares during the last quarter. Spire Wealth Management raised its stake in shares of NetEase by 31.3% in the fourth quarter. Spire Wealth Management now owns 436 shares of the technology company’s stock worth $60,000 after purchasing an additional 104 shares during the last quarter. Strs Ohio purchased a new stake in shares of NetEase in the first quarter worth approximately $63,000. Finally, Brown Brothers Harriman & Co. raised its stake in shares of NetEase by 479.7% in the third quarter. Brown Brothers Harriman & Co. now owns 429 shares of the technology company’s stock worth $65,000 after purchasing an additional 355 shares during the last quarter. 11.07% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
NTES has been the subject of several analyst reports. Barclays lowered their price objective on NetEase from $135.00 to $132.00 and set an “equal weight” rating for the company in a research note on Thursday, February 12th. Morgan Stanley reissued an “overweight” rating and issued a $154.00 price objective on shares of NetEase in a research note on Monday, March 2nd. Nomura lowered their price objective on NetEase from $160.00 to $155.00 and set a “buy” rating for the company in a research note on Friday, February 13th. Wall Street Zen raised NetEase from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Citigroup reaffirmed a “buy” rating on shares of NetEase in a research report on Wednesday, February 11th. Seven investment 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $156.88.
NetEase Stock Performance
Shares of NTES opened at $116.55 on Tuesday. The company has a market capitalization of $73.84 billion, a price-to-earnings ratio of 15.48, a PEG ratio of 1.50 and a beta of 0.72. The stock has a 50 day moving average of $114.56 and a 200 day moving average of $125.93. NetEase, Inc. has a 12 month low of $106.06 and a 12 month high of $159.55.
NetEase Cuts Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Friday, June 5th will be issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Friday, June 5th. NetEase’s dividend payout ratio is 61.49%.
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.
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