ABN Amro Investment Solutions Buys 10,600 Shares of NetEase, Inc. $NTES

ABN Amro Investment Solutions raised its stake in shares of NetEase, Inc. (NASDAQ:NTES) by 62.8% in the first quarter, Holdings Channel reports. The institutional investor owned 27,478 shares of the technology company’s stock after buying an additional 10,600 shares during the quarter. ABN Amro Investment Solutions’ holdings in NetEase were worth $3,076,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of NetEase by 68,860.6% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,551,117 shares of the technology company’s stock worth $1,299,684,000 after buying an additional 8,538,717 shares in the last quarter. PBU The Pension Fund of Early Childhood & Youth Educators purchased a new position in NetEase during the fourth quarter worth about $44,214,000. Man Group plc grew its position in NetEase by 33.3% during the second quarter. Man Group plc now owns 983,156 shares of the technology company’s stock worth $132,313,000 after buying an additional 245,872 shares in the last quarter. Tiger Pacific Capital LP bought a new position in NetEase in the 3rd quarter worth about $28,993,000. Finally, Morgan Stanley increased its stake in NetEase by 25.4% in the 4th quarter. Morgan Stanley now owns 894,440 shares of the technology company’s stock worth $123,093,000 after acquiring an additional 181,007 shares during the last quarter. 11.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on NTES. Morgan Stanley reaffirmed an “overweight” rating and issued a $158.00 target price on shares of NetEase in a research note on Tuesday, May 26th. Wall Street Zen lowered shares of NetEase from a “buy” rating to a “hold” rating in a report on Monday, July 6th. The Goldman Sachs Group set a $169.00 price objective on shares of NetEase in a research report on Wednesday, July 1st. Zacks Research raised shares of NetEase from a “hold” rating to a “strong-buy” rating in a report on Monday, June 8th. Finally, Benchmark reiterated a “buy” rating on shares of NetEase in a research report on Friday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, NetEase currently has a consensus rating of “Moderate Buy” and an average price target of $158.38.

Insider Activity at NetEase

In other NetEase news, General Counsel Paul William Boltz, Jr. sold 10,000 shares of the business’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $128.30, for a total value of $1,283,000.00. Following the completion of the sale, the general counsel directly owned 12,223 shares of the company’s stock, valued at $1,568,210.90. The trade was a 45.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 54.70% of the company’s stock.

NetEase Price Performance

NASDAQ:NTES opened at $120.18 on Friday. The company has a market capitalization of $76.73 billion, a price-to-earnings ratio of 15.96, a PEG ratio of 1.57 and a beta of 0.72. The business has a 50 day moving average of $123.84 and a 200 day moving average of $121.91. NetEase, Inc. has a 1-year low of $106.06 and a 1-year high of $159.55.

NetEase Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Friday, June 5th were issued a dividend of $0.72 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $2.88 annualized dividend and a dividend yield of 2.4%. NetEase’s dividend payout ratio (DPR) is currently 38.11%.

About NetEase

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.