Nordea Investment Management AB Sells 9,029 Shares of NetEase, Inc. $NTES

Nordea Investment Management AB decreased its holdings in shares of NetEase, Inc. (NASDAQ:NTES) by 3.2% during the fourth quarter, HoldingsChannel reports. The firm owned 269,408 shares of the technology company’s stock after selling 9,029 shares during the period. Nordea Investment Management AB’s holdings in NetEase were worth $37,100,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Cornerstone Planning Group LLC bought a new position in shares of NetEase during the third quarter valued at approximately $33,000. Steigerwald Gordon & Koch Inc. bought a new position in NetEase in the third quarter worth approximately $38,000. First Horizon Corp purchased a new stake in NetEase during the third quarter worth $45,000. Mather Group LLC. bought a new stake in NetEase during the 3rd quarter valued at $46,000. Finally, Spire Wealth Management boosted its position in NetEase by 29.2% during the 3rd quarter. Spire Wealth Management now owns 332 shares of the technology company’s stock valued at $50,000 after acquiring an additional 75 shares in the last quarter. Institutional investors own 11.07% of the company’s stock.

NetEase Stock Performance

Shares of NASDAQ NTES opened at $113.38 on Tuesday. NetEase, Inc. has a fifty-two week low of $88.54 and a fifty-two week high of $159.55. The company has a market cap of $71.84 billion, a PE ratio of 15.45, a P/E/G ratio of 1.45 and a beta of 0.74. The business has a 50-day simple moving average of $123.07 and a two-hundred day simple moving average of $136.35.

NetEase Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Monday, March 16th will be given a dividend of $1.16 per share. The ex-dividend date of this dividend is Monday, March 16th. This represents a $4.64 annualized dividend and a yield of 4.1%. This is a boost from NetEase’s previous quarterly dividend of $0.57. NetEase’s payout ratio is presently 63.08%.

Analysts Set New Price Targets

NTES has been the subject of several recent research reports. Weiss Ratings reissued a “hold (c)” rating on shares of NetEase in a research report on Monday, December 22nd. Citigroup reiterated a “buy” rating on shares of NetEase in a research note on Wednesday, February 11th. Morgan Stanley reiterated an “overweight” rating and issued a $154.00 target price on shares of NetEase in a report on Monday, March 2nd. Benchmark reissued a “buy” rating on shares of NetEase in a research report on Thursday, February 12th. Finally, Nomura cut their price objective on shares of NetEase from $160.00 to $155.00 and set a “buy” rating on the stock in a research report on Friday, February 13th. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $153.89.

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.