Greenwoods Asset Management Hong Kong Ltd. Trims Stake in NetEase, Inc. $NTES

Greenwoods Asset Management Hong Kong Ltd. cut its stake in shares of NetEase, Inc. (NASDAQ:NTES) by 7.9% in the third quarter, Holdings Channel reports. The firm owned 3,212,200 shares of the technology company’s stock after selling 273,800 shares during the quarter. NetEase accounts for approximately 11.0% of Greenwoods Asset Management Hong Kong Ltd.’s holdings, making the stock its 2nd biggest holding. Greenwoods Asset Management Hong Kong Ltd.’s holdings in NetEase were worth $488,222,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. WT Asset Management Ltd bought a new position in NetEase during the third quarter worth about $3,650,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of NetEase in the 3rd quarter valued at about $526,000. NewEdge Wealth LLC raised its position in shares of NetEase by 3.3% in the 3rd quarter. NewEdge Wealth LLC now owns 21,349 shares of the technology company’s stock valued at $2,970,000 after acquiring an additional 674 shares during the period. Syon Capital LLC acquired a new stake in shares of NetEase in the 3rd quarter valued at approximately $213,000. Finally, May Hill Capital LLC boosted its stake in NetEase by 8.8% during the 3rd quarter. May Hill Capital LLC now owns 2,705 shares of the technology company’s stock worth $411,000 after acquiring an additional 218 shares during the last quarter. Institutional investors own 11.07% of the company’s stock.

Analyst Ratings Changes

NTES has been the subject of a number of analyst reports. Benchmark restated a “buy” rating on shares of NetEase in a report on Thursday, February 12th. Barclays reduced their price target on shares of NetEase from $135.00 to $132.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 12th. Nomura decreased their price target on shares of NetEase from $160.00 to $155.00 and set a “buy” rating for the company in a report on Friday, February 13th. Citigroup reaffirmed a “buy” rating on shares of NetEase in a research note on Wednesday, February 11th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of NetEase in a report on Monday, December 22nd. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $155.67.

NetEase Stock Down 0.6%

Shares of NTES stock opened at $118.41 on Friday. The firm has a fifty day moving average of $132.84 and a 200-day moving average of $138.68. NetEase, Inc. has a 12-month low of $88.54 and a 12-month high of $159.55. The company has a market capitalization of $75.02 billion, a price-to-earnings ratio of 16.13, a P/E/G ratio of 1.50 and a beta of 0.71.

NetEase Increases Dividend

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

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.