Matthews International Capital Management LLC Decreases Stock Position in NetEase, Inc. (NASDAQ:NTES)

Matthews International Capital Management LLC lowered its position in shares of NetEase, Inc. (NASDAQ:NTESFree Report) by 3.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 89,650 shares of the technology company’s stock after selling 2,865 shares during the period. NetEase makes up about 1.6% of Matthews International Capital Management LLC’s investment portfolio, making the stock its 17th largest position. Matthews International Capital Management LLC’s holdings in NetEase were worth $7,998,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. UMB Bank n.a. increased its stake in NetEase by 33.3% during the 4th quarter. UMB Bank n.a. now owns 444 shares of the technology company’s stock worth $40,000 after buying an additional 111 shares during the period. Brighton Jones LLC increased its position in shares of NetEase by 1.1% during the fourth quarter. Brighton Jones LLC now owns 10,297 shares of the technology company’s stock worth $919,000 after acquiring an additional 117 shares during the last quarter. State Street Corp increased its position in shares of NetEase by 0.3% during the third quarter. State Street Corp now owns 56,729 shares of the technology company’s stock worth $5,305,000 after acquiring an additional 156 shares during the last quarter. Euro Pacific Asset Management LLC lifted its stake in shares of NetEase by 1.3% in the fourth quarter. Euro Pacific Asset Management LLC now owns 13,137 shares of the technology company’s stock worth $1,172,000 after acquiring an additional 173 shares in the last quarter. Finally, Financial Advocates Investment Management boosted its holdings in NetEase by 5.4% in the third quarter. Financial Advocates Investment Management now owns 4,647 shares of the technology company’s stock valued at $435,000 after purchasing an additional 237 shares during the last quarter. 11.07% of the stock is owned by institutional investors and hedge funds.

NetEase Trading Down 1.2 %

Shares of NASDAQ NTES opened at $101.95 on Tuesday. The company has a market cap of $65.47 billion, a price-to-earnings ratio of 17.22, a price-to-earnings-growth ratio of 3.33 and a beta of 0.57. The stock’s 50 day simple moving average is $92.43 and its 200 day simple moving average is $88.12. NetEase, Inc. has a 12-month low of $75.85 and a 12-month high of $114.50.

NetEase Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were given a dividend of $0.435 per share. The ex-dividend date was Friday, November 29th. This represents a $1.74 annualized dividend and a dividend yield of 1.71%. NetEase’s dividend payout ratio is currently 29.22%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on NTES. Citigroup lifted their price objective on NetEase from $108.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, November 15th. StockNews.com lowered shares of NetEase from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 6th. Morgan Stanley upgraded NetEase from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $90.00 to $108.00 in a research note on Wednesday, January 8th. Benchmark cut their price objective on NetEase from $120.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, November 15th. Finally, Bank of America lifted their target price on NetEase from $120.00 to $122.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $108.71.

Read Our Latest Stock Analysis on NTES

NetEase Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for NetEase (NASDAQ:NTES)

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