Ninety One UK Ltd Sells 99,935 Shares of NetEase, Inc. (NASDAQ:NTES)

Ninety One UK Ltd lowered its stake in NetEase, Inc. (NASDAQ:NTES - Free Report) by 1.6% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,132,802 shares of the technology company's stock after selling 99,935 shares during the quarter. NetEase accounts for approximately 1.8% of Ninety One UK Ltd's portfolio, making the stock its 14th largest position. Ninety One UK Ltd owned approximately 0.96% of NetEase worth $631,188,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Capital World Investors lifted its holdings in NetEase by 40.6% during the fourth quarter. Capital World Investors now owns 3,725,046 shares of the technology company's stock valued at $332,311,000 after purchasing an additional 1,074,818 shares during the last quarter. Lazard Asset Management LLC grew its position in NetEase by 2.0% during the fourth quarter. Lazard Asset Management LLC now owns 3,599,794 shares of the technology company's stock valued at $321,137,000 after acquiring an additional 69,789 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of NetEase by 7,698.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,817,021 shares of the technology company's stock valued at $289,928,000 after purchasing an additional 2,780,897 shares during the period. Dodge & Cox boosted its stake in shares of NetEase by 0.6% during the fourth quarter. Dodge & Cox now owns 2,649,876 shares of the technology company's stock valued at $236,395,000 after purchasing an additional 15,900 shares during the period. Finally, Invesco Ltd. lifted its stake in NetEase by 88.0% in the fourth quarter. Invesco Ltd. now owns 2,365,464 shares of the technology company's stock worth $211,023,000 after acquiring an additional 1,107,363 shares during the period. Institutional investors own 11.07% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on NTES shares. JPMorgan Chase & Co. lifted their price objective on NetEase from $120.00 to $135.00 and gave the stock an "overweight" rating in a report on Monday, May 19th. Barclays upped their target price on NetEase from $104.00 to $118.00 and gave the stock an "equal weight" rating in a report on Friday, May 16th. Wall Street Zen raised NetEase from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 22nd. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on NetEase in a research report on Monday, May 12th. They set a "buy" rating and a $130.00 price target for the company. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $119.38.

NetEase Stock Up 0.5%

NTES stock traded up $0.70 during trading on Friday, reaching $128.28. 131,828 shares of the company's stock were exchanged, compared to its average volume of 1,474,810. NetEase, Inc. has a 1-year low of $75.85 and a 1-year high of $135.32. The company's fifty day moving average price is $124.25 and its 200-day moving average price is $108.17. The firm has a market cap of $81.27 billion, a PE ratio of 18.45, a P/E/G ratio of 4.54 and a beta of 0.69.

NetEase Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders 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 dividend yield of 2.10%. NetEase's dividend payout ratio is currently 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.