NetEase, Inc. $NTES Position Increased by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S raised its position in NetEase, Inc. (NASDAQ:NTES) by 5.2% during the third quarter, HoldingsChannel.com reports. The firm owned 349,339 shares of the technology company’s stock after buying an additional 17,144 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in NetEase were worth $53,096,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of NTES. Ninety One UK Ltd grew its stake in shares of NetEase by 0.5% in the 3rd quarter. Ninety One UK Ltd now owns 6,296,150 shares of the technology company’s stock valued at $956,952,000 after buying an additional 28,381 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in NetEase by 2.1% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,977,146 shares of the technology company’s stock valued at $266,084,000 after acquiring an additional 40,871 shares during the last quarter. Man Group plc lifted its stake in NetEase by 33.3% in the second quarter. Man Group plc now owns 983,156 shares of the technology company’s stock valued at $132,313,000 after acquiring an additional 245,872 shares during the last quarter. American Century Companies Inc. increased its stake in shares of NetEase by 19.7% during the 2nd quarter. American Century Companies Inc. now owns 748,450 shares of the technology company’s stock worth $100,726,000 after purchasing an additional 122,951 shares during the last quarter. Finally, Handelsbanken Fonder AB raised its holdings in shares of NetEase by 2.0% during the 2nd quarter. Handelsbanken Fonder AB now owns 512,115 shares of the technology company’s stock valued at $68,920,000 after purchasing an additional 10,000 shares in the last quarter. 11.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Morgan Stanley reaffirmed an “overweight” rating and issued a $170.00 price objective on shares of NetEase in a research note on Wednesday, October 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of NetEase in a research note on Monday, December 22nd. Sanford C. Bernstein set a $155.00 price objective on NetEase in a report on Friday, November 21st. JPMorgan Chase & Co. upgraded NetEase from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $138.00 to $190.00 in a report on Friday, October 10th. Finally, Wall Street Zen cut NetEase from a “buy” rating to a “hold” rating in a research report on Sunday, November 23rd. Seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $156.13.

NetEase Stock Performance

NASDAQ NTES opened at $121.41 on Thursday. The stock has a 50-day simple moving average of $137.29 and a 200 day simple moving average of $139.83. NetEase, Inc. has a twelve month low of $88.54 and a twelve month high of $159.55. The stock has a market capitalization of $76.92 billion, a PE ratio of 15.51, a P/E/G ratio of 1.43 and a beta of 0.71.

NetEase Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were given a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Friday, December 5th. NetEase’s dividend payout ratio is currently 28.99%.

About NetEase

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.