Orbis Allan Gray Ltd trimmed its position in NetEase, Inc. (NASDAQ:NTES - Free Report) by 9.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,664,973 shares of the technology company's stock after selling 366,980 shares during the quarter. NetEase accounts for 2.2% of Orbis Allan Gray Ltd's holdings, making the stock its 13th largest holding. Orbis Allan Gray Ltd owned 0.58% of NetEase worth $377,199,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. OLD Mission Capital LLC acquired a new stake in NetEase in the first quarter valued at approximately $8,588,000. Vident Advisory LLC boosted its position in NetEase by 5.9% in the first quarter. Vident Advisory LLC now owns 3,327 shares of the technology company's stock valued at $343,000 after buying an additional 185 shares in the last quarter. Trexquant Investment LP acquired a new stake in NetEase in the first quarter valued at approximately $7,235,000. Taikang Asset Management Hong Kong Co Ltd boosted its position in NetEase by 171.7% in the first quarter. Taikang Asset Management Hong Kong Co Ltd now owns 53,800 shares of the technology company's stock valued at $5,537,000 after buying an additional 34,000 shares in the last quarter. Finally, 53 House LLP acquired a new stake in NetEase in the first quarter valued at approximately $3,247,000. 11.07% of the stock is owned by institutional investors.
NetEase Stock Down 0.6%
NTES traded down $0.87 during midday trading on Wednesday, hitting $134.84. The company had a trading volume of 546,963 shares, compared to its average volume of 1,206,178. NetEase, Inc. has a 52 week low of $75.85 and a 52 week high of $141.45. The company has a market capitalization of $85.43 billion, a price-to-earnings ratio of 18.25, a PEG ratio of 1.82 and a beta of 0.67. The stock's 50 day moving average price is $132.78 and its 200 day moving average price is $117.46.
NetEase Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Thursday, August 28th will be paid a $0.675 dividend. This represents a $2.70 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Thursday, August 28th. NetEase's payout ratio is 30.72%.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. lowered shares of NetEase from an "overweight" rating to a "neutral" rating and lifted their price target for the stock from $135.00 to $140.00 in a report on Monday, July 28th. Arete Research set a $150.00 price target on shares of NetEase in a report on Tuesday. Arete upgraded shares of NetEase from a "sell" rating to a "buy" rating and set a $150.00 price target on the stock in a report on Wednesday. Zacks Research lowered shares of NetEase from a "strong-buy" rating to a "hold" rating in a report on Friday, August 15th. Finally, Barclays set a $120.00 target price on shares of NetEase and gave the company an "equal weight" rating in a report on Monday, August 18th. Six analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $128.78.
View Our Latest Research Report on NetEase
NetEase Company Profile
(
Free Report)
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.
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