Swiss National Bank cut its stake in shares of NetEase Inc (NASDAQ:NTES) by 5.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 184,584 shares of the technology company’s stock after selling 11,119 shares during the quarter. Swiss National Bank owned approximately 0.14% of NetEase worth $47,211,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Envestnet Asset Management Inc. raised its holdings in shares of NetEase by 62.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 10,125 shares of the technology company’s stock valued at $2,590,000 after buying an additional 3,903 shares during the period. Candriam Luxembourg S.C.A. bought a new stake in NetEase during the 2nd quarter worth approximately $1,956,000. DekaBank Deutsche Girozentrale grew its holdings in NetEase by 60.1% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 15,873 shares of the technology company’s stock worth $9,683,000 after acquiring an additional 5,960 shares during the last quarter. TD Asset Management Inc. grew its holdings in NetEase by 460.8% during the 2nd quarter. TD Asset Management Inc. now owns 12,697 shares of the technology company’s stock worth $3,248,000 after acquiring an additional 10,433 shares during the last quarter. Finally, Hartwell J M Limited Partnership grew its holdings in NetEase by 5.9% during the 2nd quarter. Hartwell J M Limited Partnership now owns 3,250 shares of the technology company’s stock worth $831,000 after acquiring an additional 180 shares during the last quarter. Institutional investors own 45.19% of the company’s stock.
A number of equities research analysts have weighed in on NTES shares. BidaskClub raised shares of NetEase from a “strong sell” rating to a “sell” rating in a report on Monday, August 12th. China Renaissance Securities upgraded shares of NetEase from a “hold” rating to a “buy” rating in a research report on Thursday, May 16th. TH Capital increased their target price on shares of NetEase from $270.00 to $310.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. Tigress Financial initiated coverage on shares of NetEase in a research report on Friday. They set a “buy” rating for the company. Finally, Benchmark reiterated a “buy” rating and set a $305.00 target price (up previously from $295.00) on shares of NetEase in a research report on Thursday, May 16th. One analyst has rated the stock with a sell rating, two have given a hold rating and twelve have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $277.34.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 23rd will be given a $1.04 dividend. The ex-dividend date is Thursday, August 22nd. This is a boost from NetEase’s previous quarterly dividend of $0.69. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.63%. NetEase’s payout ratio is 40.03%.
NetEase Company Profile
NetEase, Inc operates an interactive online community in the People's Republic of China. The company operates in four segments: Online Games Services, E-Commerce, Advertising Services, and Innovative Businesses and Other Services. It offers various games in a range of genres through mobile devices and PCs, including role-playing games, MMORPGs, battle arena games, simulation games, collectible card games, first-person shooter games, sandbox games, and other types of games to the Chinese market.
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