NetEase, Inc. $NTES Shares Sold by Exchange Traded Concepts LLC

Key Points

• Exchange Traded Concepts LLC reduced its NetEase stake by 21.4% in Q4, selling 10,735 shares and retaining 39,509 shares worth about $5.44 million.
• NetEase raised its dividend, paying a quarterly dividend of $1.16 (up from $0.57), equivalent to a $4.64 annualized payout and a 4.2% yield with an ex-dividend date of March 16.
• Analysts rate NetEase a consensus "Moderate Buy" with a $153.89 target; the company has a market cap of roughly $69.7 billion and a PE ratio near 15.

Exchange Traded Concepts LLC decreased its position in NetEase, Inc. (NASDAQ:NTES - Free Report) by 21.4% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 39,509 shares of the technology company's stock after selling 10,735 shares during the period. Exchange Traded Concepts LLC's holdings in NetEase were worth $5,437,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Ameritas Advisory Services LLC grew its stake in NetEase by 125.8% in the 3rd quarter. Ameritas Advisory Services LLC now owns 8,285 shares of the technology company's stock valued at $1,259,000 after acquiring an additional 4,616 shares during the last quarter. Ninety One UK Ltd increased its holdings in NetEase by 0.5% during the 3rd quarter. Ninety One UK Ltd now owns 6,296,150 shares of the technology company's stock valued at $956,952,000 after acquiring an additional 28,381 shares in the last quarter. Renaissance Group LLC acquired a new position in NetEase during the third quarter worth about $6,177,000. American Century Companies Inc. lifted its holdings in shares of NetEase by 7.3% in the third quarter. American Century Companies Inc. now owns 803,379 shares of the technology company's stock valued at $122,106,000 after purchasing an additional 54,929 shares in the last quarter. Finally, Crossmark Global Holdings Inc. lifted its holdings in shares of NetEase by 313.0% in the third quarter. Crossmark Global Holdings Inc. now owns 123,284 shares of the technology company's stock valued at $18,738,000 after purchasing an additional 93,430 shares in the last quarter. Hedge funds and other institutional investors own 11.07% of the company's stock.

NetEase Trading Up 0.7%

NASDAQ NTES opened at $110.03 on Tuesday. The business's 50-day moving average price is $120.28 and its 200 day moving average price is $135.20. NetEase, Inc. has a twelve month low of $88.54 and a twelve month high of $159.55. The company has a market capitalization of $69.71 billion, a PE ratio of 14.99, a price-to-earnings-growth ratio of 1.39 and a beta of 0.74.

NetEase Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Monday, March 16th were issued a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a dividend yield of 4.2%. The ex-dividend date was Monday, March 16th. This is an increase from NetEase's previous quarterly dividend of $0.57. NetEase's payout ratio is currently 63.08%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on NTES. Barclays dropped their price objective on shares of NetEase from $135.00 to $132.00 and set an "equal weight" rating for the company in a research note on Thursday, February 12th. Nomura reduced their target price on NetEase from $160.00 to $155.00 and set a "buy" rating on the stock in a research note on Friday, February 13th. Citigroup reiterated a "buy" rating on shares of NetEase in a report on Wednesday, February 11th. Benchmark reissued a "buy" rating on shares of NetEase in a research report on Thursday, February 12th. Finally, Morgan Stanley reissued an "overweight" rating and issued a $154.00 price target on shares of NetEase in a report on Monday, March 2nd. Eight 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, NetEase presently has a consensus rating of "Moderate Buy" and a consensus target price of $153.89.

About NetEase

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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