Matthews International Capital Management LLC Has $4.41 Million Stock Holdings in NetEase, Inc. (NASDAQ:NTES)

Matthews International Capital Management LLC cut its stake in NetEase, Inc. (NASDAQ:NTES - Free Report) by 52.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 42,850 shares of the technology company's stock after selling 46,800 shares during the period. NetEase makes up 0.9% of Matthews International Capital Management LLC's investment portfolio, making the stock its 22nd largest position. Matthews International Capital Management LLC's holdings in NetEase were worth $4,410,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Farther Finance Advisors LLC lifted its position in shares of NetEase by 81.7% during the fourth quarter. Farther Finance Advisors LLC now owns 338 shares of the technology company's stock worth $30,000 after purchasing an additional 152 shares in the last quarter. Live Oak Investment Partners acquired a new position in shares of NetEase during the fourth quarter valued at $62,000. SBI Securities Co. Ltd. acquired a new position in shares of NetEase during the fourth quarter valued at $110,000. Toronto Dominion Bank acquired a new stake in NetEase in the fourth quarter worth about $145,000. Finally, Empowered Funds LLC acquired a new stake in NetEase in the fourth quarter worth about $174,000. Institutional investors and hedge funds own 11.07% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on NTES. Barclays upped their price target on shares of NetEase from $104.00 to $118.00 and gave the company an "equal weight" rating in a report on Friday, May 16th. JPMorgan Chase & Co. upped their target price on NetEase from $120.00 to $135.00 and gave the stock an "overweight" rating in a research report on Monday, May 19th. Deutsche Bank Aktiengesellschaft initiated coverage on NetEase in a research report on Monday, May 12th. They issued a "buy" rating and a $130.00 price objective for the company. Finally, Wall Street Zen upgraded NetEase from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 22nd. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $119.38.

NetEase Stock Performance

NTES traded down $0.04 during midday trading on Friday, reaching $128.63. 1,459,309 shares of the company were exchanged, compared to its average volume of 1,534,566. NetEase, Inc. has a one year low of $75.85 and a one year high of $133.80. The stock has a market capitalization of $81.50 billion, a P/E ratio of 18.51, a PEG ratio of 4.48 and a beta of 0.67. The stock's 50-day simple moving average is $115.80 and its 200 day simple moving average is $104.51.

NetEase Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were issued a dividend of $0.675 per share. This represents a $2.70 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend was Friday, May 30th. NetEase's dividend payout ratio (DPR) is presently 38.71%.

About NetEase

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.