Nordea Investment Management AB Decreases Stock Holdings in NetEase, Inc. $NTES

Key Points

• Nordea Investment Management AB reduced its stake in NetEase by 3.2%, selling 9,029 shares and ending the quarter with 269,408 shares worth about $37.1 million.
• NetEase raised its quarterly dividend to $1.16 from $0.57 (annualized $4.64), implying a 4.1% yield, with an ex-dividend date of March 16 and payment on March 27.
• Analysts remain generally positive on the stock—MarketBeat shows a consensus rating of Moderate Buy and an average target price of $153.89, despite some recent target cuts from individual firms.

Nordea Investment Management AB reduced its holdings in NetEase, Inc. (NASDAQ:NTES - Free Report) by 3.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 269,408 shares of the technology company's stock after selling 9,029 shares during the period. Nordea Investment Management AB's holdings in NetEase were worth $37,100,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Brighton Jones LLC lifted its holdings in shares of NetEase by 1.1% in the 4th quarter. Brighton Jones LLC now owns 10,297 shares of the technology company's stock valued at $919,000 after acquiring an additional 117 shares during the last quarter. Strs Ohio bought a new stake in NetEase during the first quarter worth approximately $63,000. Cetera Investment Advisers raised its position in NetEase by 380.8% during the second quarter. Cetera Investment Advisers now owns 24,006 shares of the technology company's stock valued at $3,231,000 after purchasing an additional 19,013 shares during the period. MAI Capital Management raised its position in NetEase by 12.2% during the second quarter. MAI Capital Management now owns 3,399 shares of the technology company's stock valued at $457,000 after purchasing an additional 369 shares during the period. Finally, Franklin Resources Inc. lifted its stake in shares of NetEase by 19.7% in the 2nd quarter. Franklin Resources Inc. now owns 13,020 shares of the technology company's stock valued at $1,752,000 after purchasing an additional 2,147 shares during the last quarter. 11.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Nomura cut their target price on NetEase from $160.00 to $155.00 and set a "buy" rating on the stock in a research report on Friday, February 13th. 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. Morgan Stanley reissued an "overweight" rating and issued a $154.00 target price on shares of NetEase in a research note on Monday, March 2nd. Weiss Ratings restated a "hold (c)" rating on shares of NetEase in a report on Monday, December 22nd. Finally, Citigroup reiterated a "buy" rating on shares of NetEase in a report on Wednesday, February 11th. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $153.89.

NetEase Stock Performance

NetEase stock opened at $113.38 on Tuesday. The company has a market capitalization of $71.84 billion, a PE ratio of 15.45, a P/E/G ratio of 1.45 and a beta of 0.74. The company has a 50 day moving average price of $123.07 and a 200-day moving average price of $136.35. NetEase, Inc. has a fifty-two week low of $88.54 and a fifty-two week high of $159.55.

NetEase Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Monday, March 16th will be given a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend is Monday, March 16th. This is a positive change from NetEase's previous quarterly dividend of $0.57. NetEase's dividend payout ratio is currently 63.08%.

NetEase Profile

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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