Handelsbanken Fonder AB Trims Position in NetEase, Inc. $NTES

Handelsbanken Fonder AB decreased its holdings in NetEase, Inc. (NASDAQ:NTES) by 2.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 502,115 shares of the technology company’s stock after selling 10,000 shares during the quarter. Handelsbanken Fonder AB’s holdings in NetEase were worth $76,316,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in NTES. NewSquare Capital LLC increased its position in NetEase by 137.2% during the 2nd quarter. NewSquare Capital LLC now owns 185 shares of the technology company’s stock valued at $25,000 after purchasing an additional 107 shares during the period. Cornerstone Planning Group LLC bought a new stake in shares of NetEase during the 3rd quarter valued at about $33,000. Spire Wealth Management boosted its stake in shares of NetEase by 159.6% during the 2nd quarter. Spire Wealth Management now owns 257 shares of the technology company’s stock valued at $35,000 after purchasing an additional 158 shares in the last quarter. Steigerwald Gordon & Koch Inc. purchased a new position in shares of NetEase during the third quarter valued at about $38,000. Finally, First Horizon Corp bought a new position in NetEase in the third quarter worth about $45,000. Institutional investors own 11.07% of the company’s stock.

NetEase Stock Down 0.2%

Shares of NTES opened at $115.44 on Friday. The stock has a market cap of $73.14 billion, a P/E ratio of 15.73, a P/E/G ratio of 1.47 and a beta of 0.71. The business’s 50 day moving average price is $131.27 and its 200-day moving average price is $138.28. NetEase, Inc. has a 52 week low of $88.54 and a 52 week high of $159.55.

NetEase Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Monday, March 16th will be paid a $1.16 dividend. This is an increase from NetEase’s previous quarterly dividend of $0.57. This represents a $4.64 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend is Monday, March 16th. NetEase’s payout ratio is currently 30.93%.

Analysts Set New Price Targets

Several analysts have commented on the stock. Weiss Ratings restated a “hold (c)” rating on shares of NetEase in a report on Monday, December 22nd. Sanford C. Bernstein set a $155.00 target price on NetEase in a research report on Friday, November 21st. Citigroup restated a “buy” rating on shares of NetEase in a research note on Wednesday, February 11th. Benchmark reaffirmed a “buy” rating on shares of NetEase in a research note on Thursday, February 12th. Finally, Barclays decreased their price objective on NetEase from $135.00 to $132.00 and set an “equal weight” rating for the company in a report on Thursday, February 12th. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $155.67.

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.