NetEase, Inc. $NTES Shares Sold by Myriad Asset Management US LP

Myriad Asset Management US LP trimmed its holdings in shares of NetEase, Inc. (NASDAQ:NTES) by 47.4% during the third quarter, Holdings Channel reports. The firm owned 8,365 shares of the technology company’s stock after selling 7,544 shares during the quarter. NetEase comprises 0.7% of Myriad Asset Management US LP’s portfolio, making the stock its 29th largest holding. Myriad Asset Management US LP’s holdings in NetEase were worth $1,271,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ninety One UK Ltd lifted its holdings in NetEase by 0.5% in the third quarter. Ninety One UK Ltd now owns 6,296,150 shares of the technology company’s stock worth $956,952,000 after acquiring an additional 28,381 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in NetEase by 2.1% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,977,146 shares of the technology company’s stock valued at $266,084,000 after purchasing an additional 40,871 shares during the period. Man Group plc boosted its position in NetEase by 33.3% during the 2nd quarter. Man Group plc now owns 983,156 shares of the technology company’s stock valued at $132,313,000 after purchasing an additional 245,872 shares during the period. American Century Companies Inc. lifted its stake in NetEase by 19.7% in the second quarter. American Century Companies Inc. now owns 748,450 shares of the technology company’s stock valued at $100,726,000 after buying an additional 122,951 shares during the last quarter. Finally, Handelsbanken Fonder AB lifted its stake in NetEase by 2.0% in the second quarter. Handelsbanken Fonder AB now owns 512,115 shares of the technology company’s stock valued at $68,920,000 after buying an additional 10,000 shares during the last quarter. 11.07% of the stock is owned by institutional investors and hedge funds.

NetEase Stock Up 1.0%

NTES stock opened at $132.84 on Friday. The business’s 50-day simple moving average is $138.58 and its 200 day simple moving average is $139.88. The company has a market cap of $84.17 billion, a PE ratio of 16.97, a price-to-earnings-growth ratio of 1.47 and a beta of 0.67. NetEase, Inc. has a twelve month low of $88.54 and a twelve month high of $159.55.

NetEase Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were given a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Friday, December 5th. NetEase’s dividend payout ratio (DPR) is 28.99%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of NetEase in a research report on Monday, December 22nd. JPMorgan Chase & Co. raised NetEase from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $138.00 to $190.00 in a research note on Friday, October 10th. Sanford C. Bernstein set a $155.00 price objective on shares of NetEase in a research note on Friday, November 21st. Wall Street Zen cut shares of NetEase from a “buy” rating to a “hold” rating in a research report on Sunday, November 23rd. Finally, Barclays set a $135.00 target price on NetEase and gave the stock an “equal weight” rating in a report on Friday, November 21st. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, NetEase has an average rating of “Moderate Buy” and an average target price of $156.13.

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.