Ninety One UK Ltd Trims Position in NetEase, Inc. (NASDAQ:NTES)

Ninety One UK Ltd lessened its stake in NetEase, Inc. (NASDAQ:NTES - Free Report) by 1.6% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 6,132,802 shares of the technology company's stock after selling 99,935 shares during the period. NetEase comprises approximately 1.8% of Ninety One UK Ltd's portfolio, making the stock its 14th largest position. Ninety One UK Ltd owned 0.96% of NetEase worth $631,188,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Brighton Jones LLC grew its stake in shares of NetEase by 1.1% in the fourth quarter. Brighton Jones LLC now owns 10,297 shares of the technology company's stock worth $919,000 after acquiring an additional 117 shares in the last quarter. US Bancorp DE grew its stake in shares of NetEase by 14.4% in the fourth quarter. US Bancorp DE now owns 7,291 shares of the technology company's stock worth $650,000 after acquiring an additional 918 shares in the last quarter. Jones Financial Companies Lllp grew its stake in shares of NetEase by 58.4% in the fourth quarter. Jones Financial Companies Lllp now owns 3,853 shares of the technology company's stock worth $344,000 after acquiring an additional 1,420 shares in the last quarter. Assetmark Inc. grew its stake in shares of NetEase by 2.8% in the fourth quarter. Assetmark Inc. now owns 39,555 shares of the technology company's stock worth $3,529,000 after acquiring an additional 1,086 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of NetEase in the fourth quarter worth $2,192,000. Institutional investors and hedge funds own 11.07% of the company's stock.

Analysts Set New Price Targets

Several research firms have commented on NTES. JPMorgan Chase & Co. boosted their price target on shares of NetEase from $120.00 to $135.00 and gave the stock an "overweight" rating in a research note on Monday, May 19th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of NetEase in a research report on Monday, May 12th. They set a "buy" rating and a $130.00 price objective for the company. Barclays lifted their price objective on shares of 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 shares of NetEase from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 22nd. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $119.38.

NetEase Stock Up 0.5%

NTES traded up $0.70 on Friday, reaching $128.28. The company had a trading volume of 533,143 shares, compared to its average volume of 1,477,417. NetEase, Inc. has a 1 year low of $75.85 and a 1 year high of $135.32. The stock has a market capitalization of $81.28 billion, a PE ratio of 18.46, a P/E/G ratio of 4.44 and a beta of 0.69. The stock has a 50-day moving average price of $124.63 and a 200-day moving average price of $108.41.

NetEase Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were given a $0.675 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $2.70 dividend on an annualized basis and a yield of 2.10%. NetEase's dividend payout ratio (DPR) is presently 38.71%.

About NetEase

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.