Ninety One UK Ltd Boosts Holdings in NetEase, Inc. $NTES

Ninety One UK Ltd lifted its stake in NetEase, Inc. (NASDAQ:NTES) by 2.2% during the second quarter, HoldingsChannel reports. The institutional investor owned 6,267,769 shares of the technology company’s stock after acquiring an additional 134,967 shares during the period. NetEase accounts for approximately 2.0% of Ninety One UK Ltd’s portfolio, making the stock its 13th biggest position. Ninety One UK Ltd’s holdings in NetEase were worth $843,516,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Sumitomo Mitsui Trust Group Inc. grew its position in shares of NetEase by 20.8% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 8,685 shares of the technology company’s stock valued at $894,000 after buying an additional 1,495 shares during the last quarter. Sequoia Financial Advisors LLC purchased a new position in shares of NetEase in the 1st quarter valued at $398,000. Concurrent Investment Advisors LLC grew its position in NetEase by 5.4% during the 1st quarter. Concurrent Investment Advisors LLC now owns 2,569 shares of the technology company’s stock worth $264,000 after purchasing an additional 132 shares during the last quarter. GAMMA Investing LLC grew its position in NetEase by 10,192.0% during the 1st quarter. GAMMA Investing LLC now owns 2,573 shares of the technology company’s stock worth $265,000 after purchasing an additional 2,548 shares during the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in NetEase during the 1st quarter worth $2,554,000. 11.07% of the stock is owned by hedge funds and other institutional investors.

NetEase Stock Up 0.4%

Shares of NASDAQ NTES opened at $151.99 on Wednesday. NetEase, Inc. has a 52 week low of $75.88 and a 52 week high of $159.55. The firm has a 50-day moving average price of $138.97 and a 200 day moving average price of $123.93. The stock has a market capitalization of $96.30 billion, a price-to-earnings ratio of 20.57, a price-to-earnings-growth ratio of 2.02 and a beta of 0.67.

NetEase Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 11th. Investors of record on Thursday, August 28th were paid a $0.675 dividend. The ex-dividend date was Thursday, August 28th. This represents a $2.70 annualized dividend and a dividend yield of 1.8%. NetEase’s dividend payout ratio (DPR) is 30.72%.

Analyst Upgrades and Downgrades

NTES has been the topic of several research reports. Arete raised shares of NetEase from a “sell” rating to a “buy” rating and set a $150.00 price objective on the stock in a research report on Wednesday, September 3rd. Zacks Research downgraded shares of NetEase from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 15th. Arete Research raised shares of NetEase to a “strong-buy” rating in a research report on Wednesday, September 3rd. The Goldman Sachs Group set a $161.00 price objective on shares of NetEase and gave the stock a “buy” rating in a research report on Monday, September 15th. Finally, JPMorgan Chase & Co. downgraded shares of NetEase from an “overweight” rating to a “neutral” rating and raised their price objective for the stock from $135.00 to $140.00 in a research report on Monday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $132.00.

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.