Mirae Asset Global Investments Co. Ltd. Sells 12,993 Shares of NetEase, Inc. (NASDAQ:NTES)

Mirae Asset Global Investments Co. Ltd. decreased its holdings in NetEase, Inc. (NASDAQ:NTES - Free Report) by 4.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 262,195 shares of the technology company's stock after selling 12,993 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in NetEase were worth $24,426,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Private Trust Co. NA grew its position in NetEase by 418.9% in the fourth quarter. Private Trust Co. NA now owns 275 shares of the technology company's stock worth $26,000 after buying an additional 222 shares during the last quarter. Chilton Capital Management LLC acquired a new position in NetEase in the fourth quarter worth approximately $37,000. Pinpoint Asset Management Ltd acquired a new position in NetEase in the first quarter worth approximately $42,000. First Capital Advisors Group LLC. purchased a new position in NetEase during the 2nd quarter worth approximately $47,000. Finally, Headlands Technologies LLC purchased a new position in NetEase during the 3rd quarter worth approximately $56,000. Institutional investors and hedge funds own 11.07% of the company's stock.

NetEase Stock Up 3.8 %

Shares of NASDAQ:NTES traded up $3.65 during trading on Tuesday, reaching $100.62. 2,167,662 shares of the company traded hands, compared to its average volume of 1,760,931. The firm has a fifty day simple moving average of $105.00 and a 200 day simple moving average of $103.59. The firm has a market cap of $64.87 billion, a P/E ratio of 15.88, a price-to-earnings-growth ratio of 0.84 and a beta of 0.58. NetEase, Inc. has a 1-year low of $80.79 and a 1-year high of $118.89.

NetEase (NASDAQ:NTES - Get Free Report) last issued its earnings results on Thursday, February 29th. The technology company reported $1.42 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.62 by ($0.20). The company had revenue of $3.82 billion for the quarter, compared to analyst estimates of $3.96 billion. NetEase had a net margin of 28.39% and a return on equity of 24.36%. As a group, research analysts anticipate that NetEase, Inc. will post 7.18 EPS for the current year.

NetEase Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were paid a $1.08 dividend. This represents a $4.32 annualized dividend and a dividend yield of 4.29%. The ex-dividend date was Wednesday, March 13th. This is a positive change from NetEase's previous quarterly dividend of $0.50. NetEase's payout ratio is presently 67.93%.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of NetEase from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, March 26th. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Buy" and an average price target of $126.00.

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.