Greenwoods Asset Management Hong Kong Ltd. Sells 273,800 Shares of NetEase, Inc. $NTES

Greenwoods Asset Management Hong Kong Ltd. lessened its holdings in NetEase, Inc. (NASDAQ:NTES) by 7.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,212,200 shares of the technology company’s stock after selling 273,800 shares during the period. NetEase makes up 11.0% of Greenwoods Asset Management Hong Kong Ltd.’s portfolio, making the stock its 2nd biggest position. Greenwoods Asset Management Hong Kong Ltd. owned about 0.51% of NetEase worth $488,222,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. ABN Amro Investment Solutions bought a new position in shares of NetEase in the second quarter valued at approximately $2,056,000. Ameritas Advisory Services LLC grew its position in NetEase by 125.8% during the 3rd quarter. Ameritas Advisory Services LLC now owns 8,285 shares of the technology company’s stock worth $1,259,000 after acquiring an additional 4,616 shares during the last quarter. Ninety One UK Ltd increased its holdings in NetEase by 0.5% during 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 purchasing an additional 28,381 shares in the last quarter. Renaissance Group LLC bought a new position in NetEase in the 3rd quarter valued at $6,177,000. Finally, Advisory Resource Group acquired a new position in NetEase in the second quarter worth $1,313,000. Institutional investors own 11.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Sanford C. Bernstein set a $155.00 target price on NetEase in a research note on Friday, November 21st. Nomura decreased their price objective on shares of NetEase from $160.00 to $155.00 and set a “buy” rating on the stock in a report on Friday, February 13th. Wall Street Zen cut shares of NetEase from a “buy” rating to a “hold” rating in a research report on Sunday, November 23rd. Benchmark reaffirmed a “buy” rating on shares of NetEase in a research note on Thursday, February 12th. Finally, Barclays reduced their target price on shares of NetEase from $135.00 to $132.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 12th. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $155.67.

NetEase Stock Down 0.6%

Shares of NTES stock opened at $118.41 on Friday. The firm has a market cap of $75.02 billion, a price-to-earnings ratio of 16.13, a PEG ratio of 1.50 and a beta of 0.71. NetEase, Inc. has a 12 month low of $88.54 and a 12 month high of $159.55. The stock has a 50-day moving average price of $132.84 and a 200 day moving average price of $138.68.

NetEase Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Monday, March 16th will be paid a $1.16 dividend. The ex-dividend date of this dividend is Monday, March 16th. This is a boost from NetEase’s previous quarterly dividend of $0.57. This represents a $4.64 dividend on an annualized basis and a yield of 3.9%. NetEase’s payout ratio is 30.93%.

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.