Nomura Asset Management Co. Ltd. Sells 1,500 Shares of NetEase, Inc. (NASDAQ:NTES)

Nomura Asset Management Co. Ltd. lessened its holdings in NetEase, Inc. (NASDAQ:NTES) by 54.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,280 shares of the technology company’s stock after selling 1,500 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in NetEase were worth $120,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. MML Investors Services LLC increased its stake in shares of NetEase by 12.1% during the 3rd quarter. MML Investors Services LLC now owns 3,954 shares of the technology company’s stock worth $370,000 after purchasing an additional 428 shares during the last quarter. XTX Topco Ltd bought a new position in NetEase during the third quarter valued at $274,000. Kovitz Investment Group Partners LLC increased its position in NetEase by 75.6% in the third quarter. Kovitz Investment Group Partners LLC now owns 14,167 shares of the technology company’s stock worth $1,323,000 after buying an additional 6,099 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of NetEase by 1.1% during the 3rd quarter. Wellington Management Group LLP now owns 1,020,213 shares of the technology company’s stock valued at $95,400,000 after buying an additional 10,920 shares during the last quarter. Finally, Temasek Holdings Private Ltd bought a new position in shares of NetEase during the 3rd quarter worth $51,498,000. 11.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on NTES. Barclays lowered their price objective on NetEase from $104.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Monday, August 26th. Citigroup raised their price objective on shares of NetEase from $108.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, November 15th. StockNews.com cut shares of NetEase from a “strong-buy” rating to a “buy” rating in a report on Friday, December 6th. Benchmark cut their price target on NetEase from $120.00 to $105.00 and set a “buy” rating for the company in a report on Friday, November 15th. Finally, Jefferies Financial Group decreased their price objective on NetEase from $126.00 to $103.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $107.29.

NetEase Price Performance

Shares of NASDAQ:NTES opened at $95.45 on Monday. The company has a market cap of $61.29 billion, a price-to-earnings ratio of 16.12, a PEG ratio of 3.58 and a beta of 0.57. NetEase, Inc. has a one year low of $75.85 and a one year high of $114.50. The firm has a fifty day moving average price of $85.60 and a two-hundred day moving average price of $87.87.

NetEase Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were paid a dividend of $0.435 per share. This represents a $1.74 annualized dividend and a yield of 1.82%. The ex-dividend date of this dividend was Friday, November 29th. NetEase’s dividend payout ratio is 29.22%.

NetEase Company 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.