Temasek Holdings Private Ltd Grows Holdings in NetEase, Inc. $NTES

Key Points

• Temasek Holdings boosted its NetEase stake by 50.7% in the first quarter, adding 238,386 shares and bringing its total to 708,114 shares valued at about $79.3 million.
• NetEase shares were down 3.5% in recent trading, with the stock opening at $129.55 and sitting below its 52-week high of $159.55.
• The company cut its dividend, paying $0.72 per share quarterly for a 2.2% annualized yield, while analysts currently rate the stock a Moderate Buy with a consensus price target of $158.38.

Temasek Holdings Private Ltd raised its stake in NetEase, Inc. (NASDAQ:NTES - Free Report) by 50.7% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 708,114 shares of the technology company's stock after purchasing an additional 238,386 shares during the period. Temasek Holdings Private Ltd owned 0.11% of NetEase worth $79,266,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Allworth Financial LP increased its holdings in shares of NetEase by 15.2% in the 3rd quarter. Allworth Financial LP now owns 718 shares of the technology company's stock valued at $109,000 after acquiring an additional 95 shares during the last quarter. Arkadios Wealth Advisors lifted its stake in NetEase by 5.9% during the fourth quarter. Arkadios Wealth Advisors now owns 1,859 shares of the technology company's stock worth $256,000 after purchasing an additional 103 shares during the last quarter. Spire Wealth Management boosted its holdings in NetEase by 31.3% in the fourth quarter. Spire Wealth Management now owns 436 shares of the technology company's stock worth $60,000 after purchasing an additional 104 shares during the period. Cookson Peirce & Co. Inc. boosted its holdings in NetEase by 2.2% in the fourth quarter. Cookson Peirce & Co. Inc. now owns 4,961 shares of the technology company's stock worth $683,000 after purchasing an additional 106 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in NetEase by 10.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,119 shares of the technology company's stock worth $154,000 after purchasing an additional 108 shares during the period. Institutional investors and hedge funds own 11.07% of the company's stock.

NetEase Trading Down 3.5%

NTES stock opened at $129.55 on Wednesday. The firm's 50-day moving average is $123.74 and its two-hundred day moving average is $122.22. The company has a market capitalization of $82.71 billion, a price-to-earnings ratio of 17.20, a price-to-earnings-growth ratio of 1.74 and a beta of 0.72. NetEase, Inc. has a 52 week low of $106.06 and a 52 week high of $159.55.

NetEase Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Friday, June 5th were paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Friday, June 5th. NetEase's dividend payout ratio (DPR) is presently 38.11%.

Analyst Upgrades and Downgrades

NTES has been the topic of a number of research reports. Benchmark reissued a "buy" rating on shares of NetEase in a report on Friday, May 22nd. Weiss Ratings raised shares of NetEase from a "hold (c)" rating to a "hold (c+)" rating in a report on Monday. The Goldman Sachs Group set a $169.00 price objective on shares of NetEase in a research report on Wednesday, July 1st. Wall Street Zen lowered shares of NetEase from a "buy" rating to a "hold" rating in a research note on Monday, July 6th. Finally, Zacks Research raised shares of NetEase from a "hold" rating to a "strong-buy" rating in a report on Monday, June 8th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, NetEase presently has a consensus rating of "Moderate Buy" and a consensus price target of $158.38.

Insider Transactions at NetEase

In other news, General Counsel Paul William Boltz, Jr. sold 10,000 shares of NetEase stock in a transaction on Monday, June 29th. The stock was sold at an average price of $128.30, for a total transaction of $1,283,000.00. Following the transaction, the general counsel directly owned 12,223 shares in the company, valued at approximately $1,568,210.90. This trade represents a 45.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 54.70% of the company's stock.

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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