NetEase, Inc. (NASDAQ:NTES) Stake Cut by APEIRON CAPITAL Ltd

APEIRON CAPITAL Ltd trimmed its holdings in NetEase, Inc. (NASDAQ:NTES - Free Report) by 24.4% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 97,821 shares of the technology company's stock after selling 31,500 shares during the period. NetEase accounts for approximately 4.6% of APEIRON CAPITAL Ltd's portfolio, making the stock its 7th largest position. APEIRON CAPITAL Ltd's holdings in NetEase were worth $10,068,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Invesco Ltd. raised its position in NetEase by 88.0% during the 4th quarter. Invesco Ltd. now owns 2,365,464 shares of the technology company's stock worth $211,023,000 after buying an additional 1,107,363 shares during the last quarter. Capital World Investors boosted its holdings in shares of NetEase by 40.6% in the fourth quarter. Capital World Investors now owns 3,725,046 shares of the technology company's stock valued at $332,311,000 after acquiring an additional 1,074,818 shares in the last quarter. FIL Ltd increased its stake 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 worth $148,834,000 after acquiring an additional 1,027,102 shares during the period. Mawer Investment Management Ltd. purchased a new position in NetEase during the fourth quarter worth about $62,593,000. Finally, Davis Selected Advisers purchased a new position in NetEase during the fourth quarter worth about $53,287,000. Institutional investors and hedge funds own 11.07% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on NTES shares. Barclays boosted 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. JPMorgan Chase & Co. lifted their price target on NetEase from $120.00 to $135.00 and gave the company an "overweight" rating in a research note on Monday, May 19th. Deutsche Bank Aktiengesellschaft began coverage on NetEase in a report on Monday, May 12th. They set a "buy" rating and a $130.00 price objective on the stock. Finally, Wall Street Zen raised NetEase from a "buy" rating to a "strong-buy" rating in a report on Thursday, May 22nd. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $119.38.

NetEase Stock Down 0.2%

NASDAQ NTES traded down $0.27 during mid-day trading on Friday, hitting $132.65. The stock had a trading volume of 627,585 shares, compared to its average volume of 1,510,307. The company has a 50 day simple moving average of $119.22 and a 200 day simple moving average of $105.75. The company has a market cap of $84.05 billion, a price-to-earnings ratio of 19.09, a P/E/G ratio of 4.63 and a beta of 0.67. NetEase, Inc. has a 52-week low of $75.85 and a 52-week high of $134.12.

NetEase Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were issued 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 yield of 2.04%. 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.