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

Ninety One UK Ltd reduced its position in NetEase, Inc. (NASDAQ:NTES - Free Report) by 1.6% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 6,132,802 shares of the technology company's stock after selling 99,935 shares during the period. NetEase accounts for approximately 1.8% of Ninety One UK Ltd's portfolio, making the stock its 14th largest holding. Ninety One UK Ltd owned approximately 0.96% of NetEase worth $631,188,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NTES. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of NetEase by 20.8% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 8,685 shares of the technology company's stock worth $894,000 after buying an additional 1,495 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new stake in shares of NetEase in the first quarter worth about $398,000. GAMMA Investing LLC lifted its holdings in shares of NetEase by 10,192.0% in the first quarter. GAMMA Investing LLC now owns 2,573 shares of the technology company's stock worth $265,000 after buying an additional 2,548 shares in the last quarter. Pine Haven Investment Counsel Inc purchased a new stake in shares of NetEase in the first quarter worth about $206,000. Finally, Moseley Investment Management Inc. purchased a new stake in shares of NetEase in the first quarter worth about $206,000. 11.07% of the stock is currently owned by institutional investors.

NetEase Price Performance

NASDAQ NTES traded down $3.03 on Wednesday, reaching $130.25. 670,382 shares of the company's stock traded hands, compared to its average volume of 1,482,389. NetEase, Inc. has a 12 month low of $75.85 and a 12 month high of $135.32. The stock has a market cap of $82.53 billion, a PE ratio of 18.74, a P/E/G ratio of 4.64 and a beta of 0.69. The stock has a 50-day simple moving average of $123.37 and a 200 day simple moving average of $107.77.

NetEase Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were issued a $0.675 dividend. This represents a $2.70 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend was Friday, May 30th. NetEase's dividend payout ratio is 38.71%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on NTES shares. JPMorgan Chase & Co. increased their price target on shares of NetEase from $120.00 to $135.00 and gave the stock an "overweight" rating in a report on Monday, May 19th. Wall Street Zen raised shares of NetEase from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 22nd. Deutsche Bank Aktiengesellschaft began coverage on shares of NetEase in a research note on Monday, May 12th. They issued a "buy" rating and a $130.00 target price on the stock. Finally, Barclays raised their target price on shares of NetEase from $104.00 to $118.00 and gave the company an "equal weight" rating in a research note on Friday, May 16th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $119.38.

NetEase Profile

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.