UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Trims Stock Position in NetEase, Inc. $NTES

Key Points

• UBS Asset Management Americas LLC reduced its holdings in NetEase, Inc. by 6.8%, ending the first quarter with 5,384,242 shares valued at approximately $554 million.
• A variety of investors, including Kayne Anderson Rudnick and Mather Group, have adjusted their stakes in NetEase, with Mather increasing its stake by an impressive 1,415%.
• NetEase announced a quarterly dividend of $0.675 per share, translating to an annualized dividend of $2.70 and a yield of 1.9%.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC reduced its stake in NetEase, Inc. (NASDAQ:NTES - Free Report) by 6.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,384,242 shares of the technology company's stock after selling 394,271 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned approximately 0.85% of NetEase worth $554,146,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in NTES. Mirae Asset Global Investments Co. Ltd. grew its position 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 worth $289,928,000 after buying an additional 2,780,897 shares in the last quarter. Wellington Management Group LLP grew its position in shares of NetEase by 111.7% during the first quarter. Wellington Management Group LLP now owns 1,988,541 shares of the technology company's stock worth $204,661,000 after buying an additional 1,049,023 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of NetEase by 54.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,977,835 shares of the technology company's stock worth $203,560,000 after buying an additional 697,192 shares in the last quarter. Man Group plc grew its position in shares of NetEase by 98.0% during the fourth quarter. Man Group plc now owns 708,268 shares of the technology company's stock worth $63,185,000 after buying an additional 350,578 shares in the last quarter. Finally, New York State Common Retirement Fund purchased a new stake in NetEase during the first quarter worth approximately $28,765,000. 11.07% of the stock is owned by institutional investors and hedge funds.

NetEase Stock Up 1.7%

NTES stock traded up $2.66 on Monday, reaching $155.46. 229,161 shares of the company's stock were exchanged, compared to its average volume of 1,178,712. The stock has a fifty day moving average of $134.19 and a 200-day moving average of $119.83. NetEase, Inc. has a twelve month low of $75.88 and a twelve month high of $155.47. The firm has a market cap of $98.50 billion, a PE ratio of 21.07, a P/E/G ratio of 2.04 and a beta of 0.67.

NetEase Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 11th. Shareholders of record on Thursday, August 28th were issued a $0.675 dividend. The ex-dividend date of this dividend was Thursday, August 28th. This represents a $2.70 annualized dividend and a yield of 1.7%. NetEase's dividend payout ratio is 30.72%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on NTES. JPMorgan Chase & Co. cut NetEase from an "overweight" rating to a "neutral" rating and boosted their target price for the stock from $135.00 to $140.00 in a research note on Monday, July 28th. Barclays set a $120.00 price objective on NetEase and gave the company an "equal weight" rating in a research note on Monday, August 18th. Wall Street Zen upgraded NetEase from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 30th. Zacks Research cut NetEase from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 15th. Finally, Arete Research upgraded NetEase to a "strong-buy" rating in a research note on Wednesday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $128.78.

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.