Legal & General Group Plc Has $13.49 Million Stock Holdings in NetEase, Inc. $NTES

Legal & General Group Plc decreased its position in NetEase, Inc. (NASDAQ:NTES) by 21.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 98,055 shares of the technology company’s stock after selling 26,809 shares during the quarter. Legal & General Group Plc’s holdings in NetEase were worth $13,494,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the company. Ameritas Advisory Services LLC raised its holdings in NetEase by 125.8% in the 3rd quarter. Ameritas Advisory Services LLC now owns 8,285 shares of the technology company’s stock worth $1,259,000 after acquiring an additional 4,616 shares during the period. Range Financial Group LLC bought a new stake in NetEase during the fourth quarter valued at about $1,759,000. Renaissance Group LLC bought a new stake in NetEase during the third quarter valued at about $6,177,000. American Century Companies Inc. grew its position in shares of NetEase by 7.3% in the third quarter. American Century Companies Inc. now owns 803,379 shares of the technology company’s stock valued at $122,106,000 after purchasing an additional 54,929 shares during the last quarter. Finally, Ovata Capital Management Ltd grew its position in shares of NetEase by 228.6% in the third quarter. Ovata Capital Management Ltd now owns 25,300 shares of the technology company’s stock valued at $3,850,000 after purchasing an additional 17,600 shares during the last quarter. 11.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on NTES shares. Nomura decreased their target price on NetEase from $160.00 to $155.00 and set a “buy” rating for the company in a research note on Friday, February 13th. Morgan Stanley reaffirmed an “overweight” rating and issued a $158.00 price target on shares of NetEase in a research report on Tuesday, May 26th. Benchmark reiterated a “buy” rating on shares of NetEase in a report on Friday, May 22nd. Citigroup reissued a “buy” rating on shares of NetEase in a research report on Wednesday, February 11th. Finally, Wall Street Zen upgraded shares of NetEase from a “hold” rating to a “buy” rating in a research note on Saturday, May 23rd. Seven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, NetEase has a consensus rating of “Moderate Buy” and a consensus target price of $157.38.

NetEase Stock Up 1.2%

NTES stock opened at $124.75 on Wednesday. NetEase, Inc. has a twelve month low of $106.06 and a twelve month high of $159.55. The company has a market cap of $79.64 billion, a PE ratio of 16.57, a price-to-earnings-growth ratio of 1.71 and a beta of 0.72. The business’s 50-day simple moving average is $115.12 and its 200 day simple moving average is $125.35.

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 given a dividend of $0.72 per share. The ex-dividend date is Friday, June 5th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.3%. NetEase’s payout ratio is currently 38.11%.

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.