NetEase, Inc. $NTES Shares Acquired by Handelsbanken Fonder AB

Key Points

• Handelsbanken Fonder AB increased its NetEase stake by 2.8% in the second quarter, adding 12,000 shares to hold 434,115 shares valued at approximately $55.6 million. Institutional investors collectively own 11.07% of the company.
• NetEase insiders own 54.70% of the stock, while General Counsel Paul William Boltz Jr. sold 10,000 shares for about $1.28 million, reducing his position by 45%.
• NetEase shares opened at $133.41, and analysts maintain a “Moderate Buy” consensus with an average price target of $158.38. The company pays a quarterly dividend of $0.72, representing a 2.2% yield.

Handelsbanken Fonder AB lifted its position in NetEase, Inc. (NASDAQ:NTES - Free Report) by 2.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 434,115 shares of the technology company's stock after acquiring an additional 12,000 shares during the period. Handelsbanken Fonder AB owned 0.07% of NetEase worth $55,627,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NTES. Arkadios Wealth Advisors increased its holdings in shares of NetEase by 5.9% in the fourth quarter. Arkadios Wealth Advisors now owns 1,859 shares of the technology company's stock valued at $256,000 after purchasing an additional 103 shares during the period. Cookson Peirce & Co. Inc. lifted its holdings in shares of NetEase by 2.2% during the fourth quarter. Cookson Peirce & Co. Inc. now owns 4,961 shares of the technology company's stock worth $683,000 after purchasing an additional 106 shares during the period. EverSource Wealth Advisors LLC increased its holdings in NetEase by 16.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 777 shares of the technology company's stock worth $87,000 after buying an additional 107 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in NetEase by 10.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,119 shares of the technology company's stock worth $154,000 after buying an additional 108 shares during the last quarter. Finally, Vontobel Holding Ltd. boosted its holdings in shares of NetEase by 0.5% in the 4th quarter. Vontobel Holding Ltd. now owns 21,075 shares of the technology company's stock valued at $2,900,000 after acquiring an additional 112 shares during the last quarter. Hedge funds and other institutional investors own 11.07% of the company's stock.

Insiders Place Their Bets

In related news, General Counsel Paul William Boltz, Jr. sold 10,000 shares of NetEase stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $128.30, for a total value of $1,283,000.00. Following the sale, the general counsel directly owned 12,223 shares in the company, valued at approximately $1,568,210.90. The trade was a 45.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 54.70% of the company's stock.

NetEase Stock Performance

NetEase stock opened at $133.41 on Tuesday. The stock has a market capitalization of $85.42 billion, a P/E ratio of 17.72, a P/E/G ratio of 1.71 and a beta of 0.72. The company's fifty day moving average price is $126.42 and its 200 day moving average price is $120.93. NetEase, Inc. has a 1 year low of $106.06 and a 1 year high of $159.55.

NetEase Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Friday, June 5th were paid a $0.72 dividend. The ex-dividend date of this dividend was Friday, June 5th. This represents a $2.88 dividend on an annualized basis and a yield of 2.2%. NetEase's dividend payout ratio (DPR) is currently 38.11%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Zacks Research cut shares of NetEase from a "strong-buy" rating to a "hold" rating in a report on Monday, July 27th. Morgan Stanley reissued an "overweight" rating and issued a $158.00 price objective on shares of NetEase in a report on Tuesday, May 26th. Benchmark reaffirmed a "buy" rating on shares of NetEase in a report on Friday, May 22nd. Wall Street Zen cut NetEase from a "buy" rating to a "hold" rating in a research report on Sunday, August 2nd. Finally, Weiss Ratings lowered NetEase from a "hold (c+)" rating to a "hold (c)" rating in a research report on Tuesday, August 4th. Seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, NetEase has an average rating of "Moderate Buy" and an average price target of $158.38.

NetEase Profile

NetEase, Inc NASDAQ: NTES is a Chinese technology company headquartered in Hangzhou that develops and operates Internet services and products. Founded in 1997 by William Ding (Ding Lei), the company has grown from an early web portal and e-mail provider into a diversified online services group. William Ding has served as the company's founder and long-time leader, guiding its expansion into games, digital content and consumer services.

The company's primary business is interactive entertainment: NetEase Games designs, develops and publishes PC and mobile games for domestic and international audiences, offering a mix of self-developed franchises and titles published under licensing and strategic partnerships.

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