NetEase, Inc. $NTES Shares Sold by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S lowered its stake in shares of NetEase, Inc. (NASDAQ:NTES) by 2.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 339,869 shares of the technology company’s stock after selling 9,470 shares during the period. BI Asset Management Fondsmaeglerselskab A S owned about 0.05% of NetEase worth $46,773,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. PBU The Pension Fund of Early Childhood & Youth Educators purchased a new stake in NetEase during the 4th quarter valued at about $44,214,000. Vise Technologies Inc. grew its stake in NetEase by 4.3% during the 4th quarter. Vise Technologies Inc. now owns 7,507 shares of the technology company’s stock valued at $1,033,000 after acquiring an additional 310 shares in the last quarter. Daiwa Securities Group Inc. grew its stake in NetEase by 29.5% during the 4th quarter. Daiwa Securities Group Inc. now owns 5,700 shares of the technology company’s stock valued at $784,000 after acquiring an additional 1,300 shares in the last quarter. State of Wyoming purchased a new stake in shares of NetEase in the 4th quarter valued at approximately $98,000. Finally, Cibc World Market Inc. purchased a new stake in shares of NetEase in the 4th quarter valued at approximately $201,000. Hedge funds and other institutional investors own 11.07% of the company’s stock.

NetEase Stock Performance

NASDAQ:NTES opened at $119.48 on Friday. The stock has a market capitalization of $76.28 billion, a P/E ratio of 15.87, a PEG ratio of 1.71 and a beta of 0.72. The company has a 50 day moving average price of $115.86 and a 200 day moving average price of $124.93. NetEase, Inc. has a fifty-two week low of $106.06 and a fifty-two week high of $159.55.

NetEase Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Friday, June 5th will be given a dividend of $0.72 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.4%. NetEase’s dividend payout ratio (DPR) is presently 61.49%.

Analyst Ratings Changes

NTES has been the subject of several analyst reports. Nomura dropped their price target on shares of NetEase from $160.00 to $155.00 and set a “buy” rating for the company in a research note on Friday, February 13th. Barclays dropped their price target on shares of NetEase from $135.00 to $132.00 and set an “equal weight” rating for the company in a research note on Thursday, February 12th. Benchmark reissued a “buy” rating on shares of NetEase in a research note on Friday, May 22nd. Morgan Stanley reissued an “overweight” rating and issued a $158.00 price target on shares of NetEase in a research note on Tuesday, May 26th. Finally, Wall Street Zen raised shares of NetEase from a “hold” rating to a “buy” rating in a research note on Saturday, May 23rd. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $157.38.

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.