Ninety One North America Inc. Sells 7,781 Shares of NetEase, Inc. (NASDAQ:NTES)

Ninety One North America Inc. decreased its position in NetEase, Inc. (NASDAQ:NTES) by 2.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 337,536 shares of the technology company’s stock after selling 7,781 shares during the quarter. NetEase makes up 1.9% of Ninety One North America Inc.’s portfolio, making the stock its 21st biggest holding. Ninety One North America Inc. owned 0.05% of NetEase worth $30,112,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of NTES. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in NetEase by 13,747.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,258,442 shares of the technology company’s stock valued at $585,227,000 after acquiring an additional 6,213,248 shares during the period. Hhlr Advisors LTD. lifted its holdings in NetEase by 86.8% in the third quarter. Hhlr Advisors LTD. now owns 2,588,943 shares of the technology company’s stock valued at $242,092,000 after acquiring an additional 1,203,129 shares during the period. Temasek Holdings Private Ltd bought a new position in NetEase in the third quarter valued at about $51,498,000. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in NetEase by 472.6% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 418,000 shares of the technology company’s stock valued at $39,087,000 after acquiring an additional 345,000 shares during the period. Finally, Public Employees Retirement System of Ohio bought a new position in NetEase in the third quarter valued at about $11,636,000. Institutional investors own 11.07% of the company’s stock.

NetEase Trading Down 1.8 %

Shares of NASDAQ:NTES opened at $101.83 on Tuesday. NetEase, Inc. has a 12-month low of $75.85 and a 12-month high of $114.50. The business’s fifty day simple moving average is $93.98 and its 200-day simple moving average is $88.47. The company has a market capitalization of $65.39 billion, a PE ratio of 17.19, a P/E/G ratio of 3.44 and a beta of 0.58.

NetEase Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were paid a dividend of $0.435 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.74 annualized dividend and a yield of 1.71%. NetEase’s dividend payout ratio (DPR) is 29.22%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on NTES shares. StockNews.com cut NetEase from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 6th. Benchmark reduced their price target on NetEase from $120.00 to $105.00 and set a “buy” rating for the company in a research report on Friday, November 15th. Bank of America increased their price target on NetEase from $120.00 to $122.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. Citigroup raised their price objective on NetEase from $108.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Finally, Morgan Stanley upgraded NetEase from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $90.00 to $108.00 in a report on Wednesday, January 8th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, NetEase currently has a consensus rating of “Moderate Buy” and an average price target of $108.71.

About NetEase

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.