Ninety One North America Inc. Has $46.51 Million Stock Position in NetEase, Inc. (NASDAQ:NTES)

Ninety One North America Inc. cut its holdings in shares of NetEase, Inc. (NASDAQ:NTES) by 13.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 499,252 shares of the technology company’s stock after selling 80,317 shares during the quarter. NetEase comprises 2.3% of Ninety One North America Inc.’s portfolio, making the stock its 20th biggest holding. Ninety One North America Inc. owned 0.08% of NetEase worth $46,510,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in NTES. Daiwa Securities Group Inc. increased its holdings in NetEase by 28.0% in the 4th quarter. Daiwa Securities Group Inc. now owns 10,444 shares of the technology company’s stock worth $973,000 after purchasing an additional 2,285 shares in the last quarter. WCM Investment Management LLC bought a new position in NetEase in the fourth quarter worth approximately $747,000. Simplicity Solutions LLC bought a new position in NetEase in the fourth quarter worth approximately $215,000. NewEdge Wealth LLC lifted its holdings in shares of NetEase by 54.2% in the fourth quarter. NewEdge Wealth LLC now owns 29,202 shares of the technology company’s stock valued at $2,721,000 after purchasing an additional 10,266 shares in the last quarter. Finally, Cerity Partners LLC lifted its holdings in shares of NetEase by 15.4% in the fourth quarter. Cerity Partners LLC now owns 5,813 shares of the technology company’s stock valued at $542,000 after purchasing an additional 775 shares in the last quarter. 11.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Morgan Stanley decreased their price target on NetEase from $135.00 to $120.00 and set an “overweight” rating for the company in a research report on Friday, April 12th. StockNews.com upgraded NetEase from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, March 26th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $126.00.

NetEase Trading Up 2.5 %

NTES traded up $2.27 during trading on Thursday, hitting $92.21. 1,077,060 shares of the company’s stock traded hands, compared to its average volume of 1,743,342. The stock has a market capitalization of $59.45 billion, a price-to-earnings ratio of 14.21, a PEG ratio of 0.82 and a beta of 0.58. NetEase, Inc. has a 12-month low of $80.79 and a 12-month high of $118.89. The company’s 50 day simple moving average is $104.05 and its two-hundred day simple moving average is $103.30.

NetEase (NASDAQ:NTES) last posted its quarterly earnings results on Thursday, February 29th. The technology company reported $1.42 EPS for the quarter, missing analysts’ consensus estimates of $1.62 by ($0.20). NetEase had a net margin of 28.39% and a return on equity of 24.36%. The business had revenue of $3.82 billion for the quarter, compared to the consensus estimate of $3.96 billion. On average, equities analysts expect that NetEase, Inc. will post 7.04 EPS for the current year.

NetEase Increases Dividend

The firm 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 dividend yield of 4.68%. The ex-dividend date was Wednesday, March 13th. This is a positive change from NetEase’s previous quarterly dividend of $0.50. NetEase’s payout ratio is 68.09%.

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.