Ninety One North America Inc. Decreases Stake in NetEase, Inc. (NASDAQ:NTES)

Ninety One North America Inc. cut its stake in NetEase, Inc. (NASDAQ:NTES - Free Report) by 6.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 317,313 shares of the technology company's stock after selling 20,223 shares during the quarter. NetEase comprises approximately 2.2% of Ninety One North America Inc.'s investment portfolio, making the stock its 17th biggest position. Ninety One North America Inc.'s holdings in NetEase were worth $32,658,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Capital World Investors grew its holdings in shares of NetEase by 40.6% during the 4th quarter. Capital World Investors now owns 3,725,046 shares of the technology company's stock worth $332,311,000 after purchasing an additional 1,074,818 shares during the period. Lazard Asset Management LLC grew its holdings in shares of NetEase by 2.0% during the 4th quarter. Lazard Asset Management LLC now owns 3,599,794 shares of the technology company's stock worth $321,137,000 after purchasing an additional 69,789 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in NetEase by 7,698.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,817,021 shares of the technology company's stock valued at $289,928,000 after acquiring an additional 2,780,897 shares during the period. Dodge & Cox boosted its holdings in NetEase by 0.6% during the 4th quarter. Dodge & Cox now owns 2,649,876 shares of the technology company's stock valued at $236,395,000 after acquiring an additional 15,900 shares during the period. Finally, Invesco Ltd. boosted its holdings in NetEase by 88.0% during the 4th quarter. Invesco Ltd. now owns 2,365,464 shares of the technology company's stock valued at $211,023,000 after acquiring an additional 1,107,363 shares during the period. 11.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on NTES. Deutsche Bank Aktiengesellschaft began coverage on NetEase in a report on Monday, May 12th. They set a "buy" rating and a $130.00 target price for the company. JPMorgan Chase & Co. increased their price target on NetEase from $120.00 to $135.00 and gave the company an "overweight" rating in a research report on Monday, May 19th. Barclays raised their target price on NetEase from $104.00 to $118.00 and gave the stock an "equal weight" rating in a research report on Friday, May 16th. Finally, Wall Street Zen raised NetEase from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 22nd. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, NetEase currently has a consensus rating of "Buy" and a consensus target price of $119.38.

NetEase Price Performance

Shares of NTES stock traded down $2.67 during midday trading on Thursday, hitting $127.58. The company had a trading volume of 1,460,152 shares, compared to its average volume of 1,482,300. The company's 50 day simple moving average is $123.83 and its 200 day simple moving average is $107.92. NetEase, Inc. has a 52-week low of $75.85 and a 52-week high of $135.32. The stock has a market cap of $80.83 billion, a price-to-earnings ratio of 18.36, a PEG ratio of 4.64 and a beta of 0.69.

NetEase Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were paid a $0.675 dividend. The ex-dividend date was Friday, May 30th. This represents a $2.70 annualized dividend and a dividend yield of 2.12%. NetEase's dividend payout ratio (DPR) is currently 38.71%.

NetEase Company 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.