Cederberg Capital Ltd Reduces Holdings in NetEase, Inc. $NTES

Cederberg Capital Ltd reduced its holdings in shares of NetEase, Inc. (NASDAQ:NTES) by 11.7% in the third quarter, Holdings Channel reports. The institutional investor owned 569,475 shares of the technology company’s stock after selling 75,500 shares during the period. NetEase makes up 24.7% of Cederberg Capital Ltd’s investment portfolio, making the stock its 2nd largest holding. Cederberg Capital Ltd’s holdings in NetEase were worth $86,555,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Bank of Montreal Can raised its holdings in shares of NetEase by 1,636.4% in the 3rd quarter. Bank of Montreal Can now owns 662,557 shares of the technology company’s stock worth $100,702,000 after acquiring an additional 624,399 shares during the last quarter. Man Group plc lifted its position in NetEase by 33.3% in the 2nd quarter. Man Group plc now owns 983,156 shares of the technology company’s stock valued at $132,313,000 after acquiring an additional 245,872 shares in the last quarter. Causeway Capital Management LLC boosted its stake in NetEase by 44.6% during the 3rd quarter. Causeway Capital Management LLC now owns 638,315 shares of the technology company’s stock valued at $97,017,000 after purchasing an additional 196,821 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its stake in NetEase by 103.0% during the 2nd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 332,195 shares of the technology company’s stock valued at $44,707,000 after purchasing an additional 168,573 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in NetEase by 351.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 187,415 shares of the technology company’s stock worth $25,221,000 after purchasing an additional 145,906 shares in the last quarter. 11.07% of the stock is owned by institutional investors.

NetEase Stock Up 1.1%

Shares of NASDAQ NTES opened at $117.51 on Friday. The company has a market cap of $74.45 billion, a P/E ratio of 16.01, a P/E/G ratio of 1.48 and a beta of 0.74. NetEase, Inc. has a 52 week low of $88.54 and a 52 week high of $159.55. The business has a 50-day simple moving average of $126.28 and a two-hundred day simple moving average of $137.15.

NetEase Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Monday, March 16th will be given a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 3.9%. This is an increase from NetEase’s previous quarterly dividend of $0.57. The ex-dividend date is Monday, March 16th. NetEase’s dividend payout ratio (DPR) is 30.93%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Nomura lowered their price objective on NetEase from $160.00 to $155.00 and set a “buy” rating for the company in a research note on Friday, February 13th. Wall Street Zen cut NetEase from a “buy” rating to a “hold” rating in a research report on Sunday, November 23rd. Citigroup reissued a “buy” rating on shares of NetEase in a research report on Wednesday, February 11th. Sanford C. Bernstein set a $155.00 price objective on NetEase in a research note on Friday, November 21st. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $154.00 price objective on shares of NetEase in a report on Monday, March 2nd. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $153.89.

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.