KBC Group NV Reduces Stock Position in NetEase, Inc. (NASDAQ:NTES)

KBC Group NV cut its holdings in shares of NetEase, Inc. (NASDAQ:NTESFree Report) by 10.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 76,693 shares of the technology company’s stock after selling 9,376 shares during the quarter. KBC Group NV’s holdings in NetEase were worth $7,145,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of NTES. Seldon Capital LP bought a new stake in shares of NetEase in the 4th quarter valued at approximately $3,858,000. Alberta Investment Management Corp increased its holdings in shares of NetEase by 483.8% in the 4th quarter. Alberta Investment Management Corp now owns 68,276 shares of the technology company’s stock valued at $6,361,000 after acquiring an additional 56,581 shares during the last quarter. Axiom Investors LLC DE bought a new stake in shares of NetEase in the 4th quarter valued at approximately $1,648,000. Allianz Asset Management GmbH increased its holdings in shares of NetEase by 154.5% in the 4th quarter. Allianz Asset Management GmbH now owns 193,471 shares of the technology company’s stock valued at $18,024,000 after acquiring an additional 117,443 shares during the last quarter. Finally, Edmond DE Rothschild Holding S.A. increased its holdings in shares of NetEase by 4.1% in the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 55,201 shares of the technology company’s stock valued at $5,143,000 after acquiring an additional 2,170 shares during the last quarter. 11.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. StockNews.com lowered NetEase from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 16th. HSBC reduced their price objective on NetEase from $130.00 to $126.00 and set a “buy” rating for the company in a research report on Wednesday, April 24th. Benchmark boosted their price objective on NetEase from $144.00 to $145.00 and gave the company a “buy” rating in a research report on Friday, May 24th. Finally, Morgan Stanley restated an “equal weight” rating and set a $100.00 price objective (down previously from $120.00) on shares of NetEase in a research report on Thursday, May 23rd. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $125.71.

Read Our Latest Research Report on NTES

NetEase Stock Performance

NTES opened at $94.15 on Thursday. NetEase, Inc. has a one year low of $81.30 and a one year high of $118.89. The stock’s fifty day moving average is $96.06 and its 200-day moving average is $100.50. The company has a market capitalization of $60.46 billion, a PE ratio of 14.60, a P/E/G ratio of 1.72 and a beta of 0.52.

NetEase (NASDAQ:NTESGet Free Report) last announced its earnings results on Thursday, May 23rd. The technology company reported $1.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.68 by ($0.05). The company had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.61 billion. NetEase had a return on equity of 24.19% and a net margin of 28.75%. On average, equities research analysts forecast that NetEase, Inc. will post 6.86 EPS for the current fiscal year.

NetEase Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Thursday, June 6th will be given a dividend of $0.495 per share. This represents a $1.98 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date is Thursday, June 6th. NetEase’s dividend payout ratio (DPR) is presently 66.82%.

NetEase 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.

See Also

Institutional Ownership by Quarter for NetEase (NASDAQ:NTES)

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