NetEase, Inc. (NASDAQ:NTES) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp cut its holdings in NetEase, Inc. (NASDAQ:NTES) by 10.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 468,772 shares of the technology company’s stock after selling 55,132 shares during the period. Van ECK Associates Corp’s holdings in NetEase were worth $43,671,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. WT Asset Management Ltd boosted its stake in NetEase by 381.1% during the 4th quarter. WT Asset Management Ltd now owns 996,686 shares of the technology company’s stock valued at $92,851,000 after purchasing an additional 789,499 shares during the period. Assenagon Asset Management S.A. boosted its stake in NetEase by 451.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 511,454 shares of the technology company’s stock valued at $47,647,000 after purchasing an additional 418,677 shares during the period. American Century Companies Inc. boosted its stake in NetEase by 14.8% during the 3rd quarter. American Century Companies Inc. now owns 390,322 shares of the technology company’s stock valued at $39,095,000 after purchasing an additional 50,461 shares during the period. Ariose Capital Management Ltd boosted its stake in NetEase by 8.2% during the 3rd quarter. Ariose Capital Management Ltd now owns 328,641 shares of the technology company’s stock valued at $32,917,000 after purchasing an additional 24,971 shares during the period. Finally, Todd Asset Management LLC boosted its stake in NetEase by 22.1% during the 3rd quarter. Todd Asset Management LLC now owns 294,555 shares of the technology company’s stock valued at $29,503,000 after purchasing an additional 53,310 shares during the period. 11.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have commented on NTES shares. Morgan Stanley dropped their price target on shares of NetEase from $135.00 to $120.00 and set an “overweight” rating on the stock in a research report on Friday, April 12th. StockNews.com downgraded shares of NetEase from a “strong-buy” rating to a “buy” rating in a research report on Monday. Finally, HSBC dropped their target price on shares of NetEase from $130.00 to $126.00 and set a “buy” rating on the stock in a report on Wednesday, April 24th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $126.00.

NetEase Stock Down 2.6 %

Shares of NetEase stock traded down $2.51 during trading on Tuesday, hitting $94.12. The stock had a trading volume of 285,487 shares, compared to its average volume of 1,696,958. The stock has a 50 day simple moving average of $102.05 and a 200 day simple moving average of $102.83. The company has a market capitalization of $60.68 billion, a PE ratio of 15.27, a P/E/G ratio of 0.87 and a beta of 0.58. NetEase, Inc. has a 1 year low of $80.79 and a 1 year high of $118.89.

NetEase (NASDAQ:NTES) last released its earnings results on Thursday, February 29th. The technology company reported $1.42 earnings per share for the quarter, missing the consensus estimate of $1.62 by ($0.20). The firm had revenue of $3.82 billion during the quarter, compared to analysts’ expectations of $3.96 billion. NetEase had a return on equity of 24.36% and a net margin of 28.39%. As a group, equities analysts expect that NetEase, Inc. will post 7.04 earnings per share for the current fiscal year.

NetEase Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were given a dividend of $1.08 per share. The ex-dividend date was Wednesday, March 13th. This is an increase from NetEase’s previous quarterly dividend of $0.50. This represents a $4.32 dividend on an annualized basis and a yield of 4.59%. NetEase’s payout ratio is presently 68.09%.

NetEase 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.