Fmr LLC Trims Position in NetEase, Inc. (NASDAQ:NTES)

Fmr LLC decreased its position in shares of NetEase, Inc. (NASDAQ:NTES) by 36.4% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,769,243 shares of the technology company’s stock after selling 1,013,382 shares during the quarter. Fmr LLC owned approximately 0.28% of NetEase worth $165,442,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of NTES. Point72 Hong Kong Ltd increased its stake in NetEase by 109.0% in the second quarter. Point72 Hong Kong Ltd now owns 1,213,323 shares of the technology company’s stock worth $115,969,000 after purchasing an additional 632,896 shares during the period. Assenagon Asset Management S.A. boosted its position in NetEase by 65.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 772,242 shares of the technology company’s stock valued at $73,811,000 after buying an additional 306,500 shares during the period. Point72 Asset Management L.P. boosted its position in NetEase by 126.5% in the 2nd quarter. Point72 Asset Management L.P. now owns 525,400 shares of the technology company’s stock valued at $50,218,000 after buying an additional 293,400 shares during the period. National Bank of Canada FI grew its stake in NetEase by 5,735.2% in the 2nd quarter. National Bank of Canada FI now owns 281,080 shares of the technology company’s stock worth $27,113,000 after acquiring an additional 276,263 shares in the last quarter. Finally, Coronation Fund Managers Ltd. purchased a new position in shares of NetEase during the second quarter worth approximately $19,541,000. Institutional investors own 11.07% of the company’s stock.

NetEase Price Performance

NTES stock opened at $89.36 on Wednesday. NetEase, Inc. has a 1 year low of $75.85 and a 1 year high of $114.50. The firm has a market capitalization of $57.38 billion, a PE ratio of 15.09, a price-to-earnings-growth ratio of 3.28 and a beta of 0.57. The business has a 50 day simple moving average of $85.83 and a 200-day simple moving average of $87.87.

NetEase Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.435 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.74 annualized dividend and a yield of 1.95%. NetEase’s dividend payout ratio (DPR) is 29.22%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. StockNews.com raised NetEase from a “buy” rating to a “strong-buy” rating in a research report on Thursday, November 28th. Barclays decreased their price objective on NetEase from $104.00 to $82.00 and set an “equal weight” rating for the company in a report on Monday, August 26th. Benchmark dropped their target price on shares of NetEase from $120.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, November 15th. Jefferies Financial Group reduced their price target on shares of NetEase from $126.00 to $103.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Finally, Citigroup increased their price objective on shares of NetEase from $108.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, NetEase presently has a consensus rating of “Moderate Buy” and an average price target of $107.29.

NetEase 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.