Matthews International Capital Management LLC Sells 33,452 Shares of NetEase, Inc. $NTES

Matthews International Capital Management LLC lowered its position in shares of NetEase, Inc. (NASDAQ:NTES) by 58.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,675 shares of the technology company’s stock after selling 33,452 shares during the period. NetEase accounts for about 0.8% of Matthews International Capital Management LLC’s holdings, making the stock its 25th biggest position. Matthews International Capital Management LLC’s holdings in NetEase were worth $3,598,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brighton Jones LLC grew its position in shares of NetEase by 1.1% during the 4th quarter. Brighton Jones LLC now owns 10,297 shares of the technology company’s stock valued at $919,000 after purchasing an additional 117 shares in the last quarter. Trexquant Investment LP bought a new stake in NetEase during the first quarter valued at $7,235,000. Vident Advisory LLC grew its position in NetEase by 5.9% during the first quarter. Vident Advisory LLC now owns 3,327 shares of the technology company’s stock worth $343,000 after buying an additional 185 shares in the last quarter. Panagora Asset Management Inc. increased its stake in NetEase by 4.1% in the 1st quarter. Panagora Asset Management Inc. now owns 14,562 shares of the technology company’s stock worth $1,499,000 after acquiring an additional 570 shares during the last quarter. Finally, Royal Bank of Canada increased its position in shares of NetEase by 125.0% in the first quarter. Royal Bank of Canada now owns 212,466 shares of the technology company’s stock worth $21,866,000 after purchasing an additional 118,042 shares during the last quarter. 11.07% of the stock is currently owned by hedge funds and other institutional investors.

NetEase Trading Up 0.7%

NetEase stock opened at $138.07 on Friday. The firm has a market cap of $87.48 billion, a P/E ratio of 17.63, a P/E/G ratio of 1.65 and a beta of 0.68. NetEase, Inc. has a 1-year low of $87.67 and a 1-year high of $159.55. The firm has a 50-day moving average of $139.88 and a 200-day moving average of $138.88.

NetEase Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were paid a dividend of $0.57 per share. The ex-dividend date of this dividend was Friday, December 5th. This represents a $2.28 annualized dividend and a dividend yield of 1.7%. NetEase’s payout ratio is 28.99%.

Analyst Ratings Changes

Several equities analysts have recently commented on NTES shares. Arete Research upgraded NetEase from a “sell” rating to a “buy” rating and set a $150.00 price objective on the stock in a research report on Wednesday, September 3rd. Benchmark increased their price target on shares of NetEase from $145.00 to $158.00 and gave the company a “buy” rating in a research report on Friday, November 21st. Citigroup restated a “buy” rating on shares of NetEase in a report on Friday, November 21st. Morgan Stanley reaffirmed an “overweight” rating and set a $170.00 target price on shares of NetEase in a report on Wednesday, October 8th. Finally, The Goldman Sachs Group set a $161.00 price target on shares of NetEase and gave the stock a “buy” rating in a research note on Monday, September 15th. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $152.33.

NetEase Company 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.