BI Asset Management Fondsmaeglerselskab A S Lowers Stake in NetEase, Inc. $NTES

BI Asset Management Fondsmaeglerselskab A S lowered its stake in shares of NetEase, Inc. (NASDAQ:NTES) by 2.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 339,869 shares of the technology company’s stock after selling 9,470 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in NetEase were worth $46,773,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Cornerstone Planning Group LLC purchased a new position in shares of NetEase during the 3rd quarter worth approximately $33,000. Smartleaf Asset Management LLC lifted its holdings in NetEase by 3,381.8% during the 2nd quarter. Smartleaf Asset Management LLC now owns 383 shares of the technology company’s stock worth $51,000 after buying an additional 372 shares in the last quarter. Harbour Investments Inc. lifted its holdings in NetEase by 7,480.0% during the 4th quarter. Harbour Investments Inc. now owns 379 shares of the technology company’s stock worth $52,000 after buying an additional 374 shares in the last quarter. Spire Wealth Management lifted its holdings in NetEase by 31.3% during the 4th quarter. Spire Wealth Management now owns 436 shares of the technology company’s stock worth $60,000 after buying an additional 104 shares in the last quarter. Finally, Strs Ohio acquired a new stake in NetEase during the 1st quarter worth approximately $63,000. Hedge funds and other institutional investors own 11.07% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Barclays reduced their target price on shares of NetEase from $135.00 to $132.00 and set an “equal weight” rating on the stock in a report on Thursday, February 12th. Wall Street Zen upgraded shares of NetEase from a “hold” rating to a “buy” rating in a report on Saturday, May 23rd. Nomura reduced their target price on shares of NetEase from $160.00 to $155.00 and set a “buy” rating on the stock in a report on Friday, February 13th. Citigroup reiterated a “buy” rating on shares of NetEase in a report on Wednesday, February 11th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $158.00 target price on shares of NetEase in a report on Tuesday, May 26th. Seven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, NetEase has a consensus rating of “Moderate Buy” and an average target price of $157.38.

NetEase Trading Down 2.6%

Shares of NTES opened at $119.48 on Friday. NetEase, Inc. has a twelve month low of $106.06 and a twelve month high of $159.55. The firm’s fifty day simple moving average is $115.86 and its 200-day simple moving average is $124.93. The firm has a market capitalization of $76.28 billion, a price-to-earnings ratio of 15.87, a PEG ratio of 1.71 and a beta of 0.72.

NetEase Cuts Dividend

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

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.