Vontobel Holding Ltd. Sells 41,480 Shares of NetEase, Inc. (NASDAQ:NTES)

Vontobel Holding Ltd. lessened its position in shares of NetEase, Inc. (NASDAQ:NTES - Free Report) by 61.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 26,243 shares of the technology company's stock after selling 41,480 shares during the period. Vontobel Holding Ltd.'s holdings in NetEase were worth $2,701,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Capital World Investors increased its stake in NetEase by 40.6% in the fourth quarter. Capital World Investors now owns 3,725,046 shares of the technology company's stock valued at $332,311,000 after purchasing an additional 1,074,818 shares in the last quarter. Greenwoods Asset Management Hong Kong Ltd. increased its stake in NetEase by 10.8% in the fourth quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 3,632,870 shares of the technology company's stock valued at $324,088,000 after purchasing an additional 354,273 shares in the last quarter. Lazard Asset Management LLC increased its stake in NetEase by 2.0% in the fourth quarter. Lazard Asset Management LLC now owns 3,599,794 shares of the technology company's stock valued at $321,137,000 after purchasing an additional 69,789 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in NetEase by 7,698.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,817,021 shares of the technology company's stock valued at $289,928,000 after purchasing an additional 2,780,897 shares in the last quarter. Finally, Dodge & Cox increased its stake in NetEase by 0.6% in the fourth quarter. Dodge & Cox now owns 2,649,876 shares of the technology company's stock valued at $236,395,000 after purchasing an additional 15,900 shares in the last quarter. Institutional investors own 11.07% of the company's stock.

NetEase Stock Up 0.1%

NTES stock traded up $0.18 during trading on Monday, reaching $133.03. The stock had a trading volume of 631,063 shares, compared to its average volume of 1,492,026. NetEase, Inc. has a one year low of $75.85 and a one year high of $135.32. The company's 50 day moving average is $122.83 and its two-hundred day moving average is $107.59. The company has a market capitalization of $84.29 billion, a price-to-earnings ratio of 19.14, a P/E/G ratio of 4.63 and a beta of 0.69.

NetEase Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were given a $0.675 dividend. This represents a $2.70 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date was Friday, May 30th. NetEase's payout ratio is 38.71%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. 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 price target for the company. Wall Street Zen raised shares of NetEase from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 22nd. JPMorgan Chase & Co. boosted their target price on shares of NetEase from $120.00 to $135.00 and gave the stock an "overweight" rating in a research report on Monday, May 19th. Finally, Barclays boosted their target price on shares of NetEase from $104.00 to $118.00 and gave the stock an "equal weight" rating in a research report on Friday, May 16th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, NetEase has a consensus rating of "Buy" and an average target price of $119.38.

About NetEase

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.