Swedbank AB Purchases 50,000 Shares of NetEase, Inc. $NTES

Swedbank AB raised its position in shares of NetEase, Inc. (NASDAQ:NTES) by 35.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 192,100 shares of the technology company’s stock after purchasing an additional 50,000 shares during the period. Swedbank AB’s holdings in NetEase were worth $26,437,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of NTES. Brighton Jones LLC grew its holdings in NetEase by 1.1% during the fourth quarter. Brighton Jones LLC now owns 10,297 shares of the technology company’s stock valued at $919,000 after purchasing an additional 117 shares during the period. Strs Ohio bought a new position in NetEase during the first quarter valued at $63,000. EverSource Wealth Advisors LLC grew its holdings in NetEase by 106.9% during the second quarter. EverSource Wealth Advisors LLC now owns 542 shares of the technology company’s stock valued at $73,000 after purchasing an additional 280 shares during the period. First Trust Advisors LP boosted its holdings in shares of NetEase by 287.4% in the second quarter. First Trust Advisors LP now owns 91,571 shares of the technology company’s stock worth $12,324,000 after acquiring an additional 67,934 shares during the period. Finally, Walleye Capital LLC boosted its holdings in shares of NetEase by 670.9% in the second quarter. Walleye Capital LLC now owns 5,265 shares of the technology company’s stock worth $709,000 after acquiring an additional 4,582 shares during the period. 11.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

NTES has been the subject of a number of analyst reports. Citigroup reaffirmed a “buy” rating on shares of NetEase in a report on Wednesday, February 11th. Morgan Stanley reaffirmed an “overweight” rating and issued a $154.00 price target on shares of NetEase in a report on Monday, March 2nd. Nomura cut their price target on NetEase from $160.00 to $155.00 and set a “buy” rating for the company in a report on Friday, February 13th. Benchmark reaffirmed a “buy” rating on shares of NetEase in a report on Friday. Finally, Barclays cut their price target on NetEase from $135.00 to $132.00 and set an “equal weight” rating for the company in a report on Thursday, February 12th. 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 data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $156.88.

NetEase Stock Performance

NASDAQ:NTES opened at $116.55 on Tuesday. The firm has a market capitalization of $73.84 billion, a price-to-earnings ratio of 15.48, a P/E/G ratio of 1.50 and a beta of 0.72. NetEase, Inc. has a 52-week low of $106.06 and a 52-week high of $159.55. The stock has a fifty day moving average of $114.56 and a 200 day moving average of $125.93.

NetEase Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Friday, June 5th will be paid a dividend of $0.72 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $2.88 annualized dividend and a yield of 2.5%. NetEase’s dividend payout ratio (DPR) is currently 61.49%.

NetEase Company 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.