Matthews International Capital Management LLC Sells 46,800 Shares of NetEase, Inc. (NASDAQ:NTES)

Matthews International Capital Management LLC lowered its position in shares of NetEase, Inc. (NASDAQ:NTES - Free Report) by 52.2% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 42,850 shares of the technology company's stock after selling 46,800 shares during the quarter. NetEase comprises 0.9% of Matthews International Capital Management LLC's holdings, making the stock its 22nd biggest position. Matthews International Capital Management LLC's holdings in NetEase were worth $4,410,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Brighton Jones LLC increased its position in NetEase by 1.1% during the fourth quarter. Brighton Jones LLC now owns 10,297 shares of the technology company's stock worth $919,000 after acquiring an additional 117 shares during the period. Empowered Funds LLC acquired a new position in shares of NetEase during the 4th quarter worth approximately $174,000. Truist Financial Corp bought a new position in shares of NetEase during the fourth quarter worth approximately $218,000. Concurrent Investment Advisors LLC acquired a new stake in shares of NetEase in the fourth quarter valued at approximately $217,000. Finally, Infini Capital Management Ltd acquired a new stake in shares of NetEase in the fourth quarter valued at approximately $7,315,000. Institutional investors own 11.07% of the company's stock.

NetEase Trading Down 0.7%

NASDAQ:NTES traded down $0.94 during trading hours on Thursday, hitting $128.67. 898,494 shares of the company were exchanged, compared to its average volume of 1,534,631. The stock has a market capitalization of $81.52 billion, a price-to-earnings ratio of 18.51, a price-to-earnings-growth ratio of 4.51 and a beta of 0.67. NetEase, Inc. has a one year low of $75.85 and a one year high of $133.80. The company has a fifty day simple moving average of $114.53 and a 200 day simple moving average of $103.87.

NetEase Announces Dividend

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

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Deutsche Bank Aktiengesellschaft initiated coverage on NetEase in a research note on Monday, May 12th. They set a "buy" rating and a $130.00 price objective on the stock. Barclays raised their price target on NetEase from $104.00 to $118.00 and gave the stock an "equal weight" rating in a research report on Friday, May 16th. Wall Street Zen raised shares of NetEase from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 22nd. JPMorgan Chase & Co. raised their target price on shares of NetEase from $120.00 to $135.00 and gave the company an "overweight" rating in a report on Monday, May 19th. Finally, Benchmark boosted their target price on shares of NetEase from $105.00 to $115.00 and gave the company a "buy" rating in a research report on Friday, February 21st. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $119.38.

NetEase Profile

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.