Taikang Asset Management Hong Kong Co Ltd Sells 6,200 Shares of NetEase, Inc. (NASDAQ:NTES)

Taikang Asset Management Hong Kong Co Ltd reduced its holdings in NetEase, Inc. (NASDAQ:NTES) by 23.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,800 shares of the technology company’s stock after selling 6,200 shares during the period. Taikang Asset Management Hong Kong Co Ltd’s holdings in NetEase were worth $1,766,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. WT Asset Management Ltd bought a new position in NetEase during the fourth quarter worth $2,624,000. SG Americas Securities LLC acquired a new position in shares of NetEase during the fourth quarter valued at about $654,000. APEIRON CAPITAL Ltd lifted its stake in shares of NetEase by 20.5% in the fourth quarter. APEIRON CAPITAL Ltd now owns 129,321 shares of the technology company’s stock valued at $11,537,000 after buying an additional 22,000 shares during the period. Fisher Asset Management LLC grew its position in NetEase by 7.8% during the third quarter. Fisher Asset Management LLC now owns 1,145,657 shares of the technology company’s stock worth $107,130,000 after buying an additional 82,474 shares in the last quarter. Finally, SVB Wealth LLC bought a new position in NetEase during the fourth quarter valued at about $3,817,000. 11.07% of the stock is currently owned by institutional investors and hedge funds.

NetEase Stock Up 3.0 %

Shares of NetEase stock opened at $99.93 on Tuesday. NetEase, Inc. has a 12-month low of $75.85 and a 12-month high of $110.15. The stock has a market capitalization of $64.17 billion, a P/E ratio of 15.69, a price-to-earnings-growth ratio of 3.37 and a beta of 0.61. The company has a 50-day simple moving average of $101.97 and a 200 day simple moving average of $92.14.

NetEase (NASDAQ:NTES) last posted its quarterly earnings data on Thursday, February 20th. The technology company reported $1.87 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.14. The company had revenue of $3.66 billion during the quarter, compared to analyst estimates of $27.16 billion. NetEase had a net margin of 28.17% and a return on equity of 22.12%. On average, equities analysts anticipate that NetEase, Inc. will post 6.91 earnings per share for the current year.

NetEase Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th were issued a dividend of $0.435 per share. This represents a $1.74 annualized dividend and a dividend yield of 1.74%. The ex-dividend date was Thursday, March 6th. NetEase’s payout ratio is presently 76.45%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Benchmark raised their price objective on NetEase from $105.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. StockNews.com downgraded shares of NetEase from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 6th. Barclays increased their price objective on shares of NetEase from $82.00 to $104.00 and gave the company an “equal weight” rating in a research note on Monday, February 24th. Morgan Stanley lifted their target price on shares of NetEase from $108.00 to $117.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Finally, Bank of America upped their target price on shares of NetEase from $120.00 to $122.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $114.57.

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.