Greenwoods Asset Management Hong Kong Ltd. lowered its stake in shares of NetEase, Inc. (NASDAQ:NTES - Free Report) by 1.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,575,098 shares of the technology company's stock after selling 57,772 shares during the period. NetEase comprises about 11.4% of Greenwoods Asset Management Hong Kong Ltd.'s investment portfolio, making the stock its 3rd biggest holding. Greenwoods Asset Management Hong Kong Ltd. owned 0.56% of NetEase worth $367,949,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors also recently added to or reduced their stakes in the company. Mather Group LLC. grew its position in NetEase by 1,415.0% in the first quarter. Mather Group LLC. now owns 303 shares of the technology company's stock worth $31,000 after acquiring an additional 283 shares in the last quarter. TD Private Client Wealth LLC bought a new stake in NetEase in the first quarter worth approximately $65,000. Farther Finance Advisors LLC grew its position in NetEase by 191.7% in the first quarter. Farther Finance Advisors LLC now owns 986 shares of the technology company's stock worth $105,000 after acquiring an additional 648 shares in the last quarter. Allianz SE bought a new stake in NetEase in the first quarter worth approximately $110,000. Finally, Greykasell Wealth Strategies Inc. bought a new stake in NetEase in the first quarter worth approximately $144,000. 11.07% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several analysts recently issued reports on the stock. JPMorgan Chase & Co. downgraded shares of NetEase from an "overweight" rating to a "neutral" rating and upped their price objective for the stock from $135.00 to $140.00 in a report on Monday, July 28th. Zacks Research downgraded shares of NetEase from a "strong-buy" rating to a "hold" rating in a report on Friday, August 15th. Wall Street Zen downgraded shares of NetEase from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 16th. Barclays set a $120.00 target price on shares of NetEase and gave the company an "equal weight" rating in a research note on Monday, August 18th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of NetEase in a research note on Monday, May 12th. They set a "buy" rating and a $130.00 target price for the company. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $122.71.
Check Out Our Latest Stock Analysis on NTES
NetEase Stock Performance
Shares of NTES stock traded up $0.02 during mid-day trading on Friday, reaching $131.89. The company's stock had a trading volume of 747,930 shares, compared to its average volume of 838,654. NetEase, Inc. has a 1-year low of $75.85 and a 1-year high of $141.45. The company has a market cap of $83.56 billion, a P/E ratio of 17.85, a PEG ratio of 1.74 and a beta of 0.67. The firm's 50-day moving average is $131.93 and its two-hundred day moving average is $116.03.
NetEase Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Thursday, August 28th will be given a dividend of $0.675 per share. The ex-dividend date is Thursday, August 28th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 2.0%. NetEase's dividend payout ratio (DPR) is 36.40%.
NetEase Profile
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Free Report)
NetEase, Inc engages in online games, music streaming, online intelligent learning services, and internet content services businesses in China and internationally . The company operates through Games and Related Value-Added Services, Youdao, Cloud Music, and Innovative Businesses and Others segments.
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