Ninety One North America Inc. Sells 20,223 Shares of NetEase, Inc. (NASDAQ:NTES)

Ninety One North America Inc. decreased its position in shares of NetEase, Inc. (NASDAQ:NTES - Free Report) by 6.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 317,313 shares of the technology company's stock after selling 20,223 shares during the period. NetEase comprises 2.2% of Ninety One North America Inc.'s holdings, making the stock its 17th largest holding. Ninety One North America Inc.'s holdings in NetEase were worth $32,658,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. raised its stake in NetEase by 7,698.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,817,021 shares of the technology company's stock worth $289,928,000 after buying an additional 2,780,897 shares during the last quarter. Invesco Ltd. increased its stake in NetEase by 88.0% in the fourth quarter. Invesco Ltd. now owns 2,365,464 shares of the technology company's stock valued at $211,023,000 after purchasing an additional 1,107,363 shares in the last quarter. Capital World Investors raised its holdings in NetEase by 40.6% during the fourth quarter. Capital World Investors now owns 3,725,046 shares of the technology company's stock worth $332,311,000 after buying an additional 1,074,818 shares during the last quarter. FIL Ltd grew its holdings in shares of NetEase by 160.2% during the fourth quarter. FIL Ltd now owns 1,668,359 shares of the technology company's stock valued at $148,834,000 after buying an additional 1,027,102 shares during the last quarter. Finally, Mawer Investment Management Ltd. acquired a new stake in shares of NetEase in the 4th quarter worth about $62,593,000. Institutional investors and hedge funds own 11.07% of the company's stock.

NetEase Trading Up 0.1%

Shares of NTES stock traded up $0.18 during trading on Monday, reaching $133.03. 631,063 shares of the company's stock traded hands, compared to its average volume of 1,492,026. The company has a market capitalization of $84.29 billion, a P/E ratio of 19.14, a PEG ratio of 4.63 and a beta of 0.69. The firm's 50-day moving average is $122.27 and its 200 day moving average is $107.30. NetEase, Inc. has a 1 year low of $75.85 and a 1 year high of $135.32.

NetEase Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were issued a dividend of $0.675 per share. This represents a $2.70 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date was Friday, May 30th. NetEase's dividend payout ratio (DPR) is presently 38.71%.

Analyst Ratings Changes

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