Nordea Investment Management AB Has $42.87 Million Stake in NetEase, Inc. $NTES

Key Points

• Nordea Investment Management AB reduced its stake in NetEase, Inc. by 2.3%, holding 319,208 shares worth approximately $42.87 million as of the latest filing.
• NetEase recently announced a $0.675 quarterly dividend, translating to an annual yield of 1.8%, and has maintained a dividend payout ratio of 30.72%.
• Several analysts upgraded NetEase's stock ratings, with JPMorgan Chase raising the price target from $138 to $190, reflecting positive market sentiment for the company.

Nordea Investment Management AB decreased its stake in NetEase, Inc. (NASDAQ:NTES - Free Report) by 2.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 319,208 shares of the technology company's stock after selling 7,646 shares during the quarter. Nordea Investment Management AB owned 0.05% of NetEase worth $42,870,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of NTES. Brighton Jones LLC raised its position in shares of NetEase by 1.1% during the fourth quarter. Brighton Jones LLC now owns 10,297 shares of the technology company's stock worth $919,000 after purchasing an additional 117 shares during the period. GAMMA Investing LLC raised its position in shares of NetEase by 10,192.0% during the first quarter. GAMMA Investing LLC now owns 2,573 shares of the technology company's stock worth $265,000 after purchasing an additional 2,548 shares during the period. Farther Finance Advisors LLC raised its position in shares of NetEase by 191.7% during the first quarter. Farther Finance Advisors LLC now owns 986 shares of the technology company's stock worth $105,000 after purchasing an additional 648 shares during the period. Blue Trust Inc. raised its position in shares of NetEase by 36.7% during the first quarter. Blue Trust Inc. now owns 3,094 shares of the technology company's stock worth $318,000 after purchasing an additional 831 shares during the period. Finally, TT International Asset Management LTD acquired a new stake in shares of NetEase during the first quarter worth about $21,918,000. Institutional investors and hedge funds own 11.07% of the company's stock.

NetEase Stock Performance

Shares of NetEase stock opened at $148.21 on Friday. The business's 50 day simple moving average is $143.62 and its 200 day simple moving average is $128.30. NetEase, Inc. has a 52-week low of $75.88 and a 52-week high of $159.55. The firm has a market cap of $93.90 billion, a PE ratio of 20.06, a P/E/G ratio of 1.97 and a beta of 0.67.

NetEase Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 11th. Shareholders of record on Thursday, August 28th were paid a $0.675 dividend. This represents a $2.70 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Thursday, August 28th. NetEase's dividend payout ratio (DPR) is currently 30.72%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on NTES shares. JPMorgan Chase & Co. raised NetEase from a "neutral" rating to an "overweight" rating and raised their price target for the stock from $138.00 to $190.00 in a research report on Friday, October 10th. Wall Street Zen raised NetEase from a "buy" rating to a "strong-buy" rating in a research report on Friday, October 3rd. Arete upgraded NetEase from a "sell" rating to a "buy" rating and set a $150.00 price objective for the company in a report on Wednesday, September 3rd. The Goldman Sachs Group set a $161.00 target price on NetEase and gave the company a "buy" rating in a research report on Monday, September 15th. Finally, Arete Research raised NetEase to a "strong-buy" rating in a research report on Wednesday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $142.30.

NetEase Company 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.

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