Ninety One UK Ltd Sells 41,013 Shares of NetEase, Inc. (NASDAQ:NTES)

Ninety One UK Ltd cut its position in shares of NetEase, Inc. (NASDAQ:NTES) by 0.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,728,407 shares of the technology company’s stock after selling 41,013 shares during the period. NetEase makes up about 1.9% of Ninety One UK Ltd’s portfolio, making the stock its 14th biggest holding. Ninety One UK Ltd owned about 1.04% of NetEase worth $626,818,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. raised its position in NetEase by 451.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 511,454 shares of the technology company’s stock valued at $47,647,000 after purchasing an additional 418,677 shares during the period. WT Asset Management Ltd raised its position in NetEase by 381.1% during the fourth quarter. WT Asset Management Ltd now owns 996,686 shares of the technology company’s stock valued at $92,851,000 after purchasing an additional 789,499 shares during the period. FDx Advisors Inc. raised its position in NetEase by 11.6% during the third quarter. FDx Advisors Inc. now owns 8,352 shares of the technology company’s stock valued at $837,000 after purchasing an additional 871 shares during the period. Qube Research & Technologies Ltd purchased a new stake in NetEase during the third quarter valued at approximately $12,017,000. Finally, China Universal Asset Management Co. Ltd. purchased a new stake in NetEase during the third quarter valued at approximately $1,102,000. 11.07% of the stock is owned by institutional investors.

NetEase Stock Performance

NTES traded up $2.27 during trading on Thursday, hitting $92.21. 1,100,831 shares of the stock were exchanged, compared to its average volume of 1,743,342. The firm has a 50 day simple moving average of $104.05 and a 200 day simple moving average of $103.30. The firm has a market cap of $59.45 billion, a price-to-earnings ratio of 14.21, a P/E/G ratio of 0.82 and a beta of 0.58. NetEase, Inc. has a 1 year low of $80.79 and a 1 year high of $118.89.

NetEase (NASDAQ:NTES) last announced its earnings results on Thursday, February 29th. The technology company reported $1.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.62 by ($0.20). The company had revenue of $3.82 billion for the quarter, compared to the consensus estimate of $3.96 billion. NetEase had a net margin of 28.39% and a return on equity of 24.36%. As a group, equities analysts anticipate that NetEase, Inc. will post 7.04 earnings per share for the current fiscal year.

NetEase Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were given a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a yield of 4.68%. The ex-dividend date was Wednesday, March 13th. This is a boost from NetEase’s previous quarterly dividend of $0.50. NetEase’s dividend payout ratio (DPR) is 68.09%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on NTES shares. StockNews.com upgraded NetEase from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, March 26th. Morgan Stanley reduced their price target on NetEase from $135.00 to $120.00 and set an “overweight” rating on the stock in a report on Friday, April 12th. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $126.00.

NetEase Company 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.