ClariVest Asset Management LLC lowered its holdings in NetEase (NASDAQ:NTES) by 87.8% during the first quarter, HoldingsChannel.com reports. The fund owned 3,905 shares of the technology company’s stock after selling 28,086 shares during the period. ClariVest Asset Management LLC’s holdings in NetEase were worth $1,095,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in NetEase by 1.9% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 10,215 shares of the technology company’s stock valued at $3,493,000 after acquiring an additional 189 shares during the period. Pillar Pacific Capital Management LLC increased its stake in NetEase by 2.2% in the fourth quarter. Pillar Pacific Capital Management LLC now owns 17,542 shares of the technology company’s stock valued at $6,053,000 after acquiring an additional 383 shares during the period. Renaissance Group LLC increased its stake in NetEase by 0.7% in the fourth quarter. Renaissance Group LLC now owns 55,740 shares of the technology company’s stock valued at $19,234,000 after acquiring an additional 386 shares during the period. Huntington National Bank increased its stake in NetEase by 106.0% in the fourth quarter. Huntington National Bank now owns 824 shares of the technology company’s stock valued at $284,000 after acquiring an additional 424 shares during the period. Finally, Icon Wealth Partners LLC bought a new stake in NetEase in the fourth quarter valued at about $176,000. 51.55% of the stock is currently owned by institutional investors and hedge funds.
NTES has been the topic of a number of analyst reports. Vetr raised shares of NetEase from a “buy” rating to a “strong-buy” rating and set a $363.00 target price on the stock in a research note on Tuesday, January 30th. JPMorgan Chase initiated coverage on shares of NetEase in a research note on Thursday, April 12th. They issued an “underweight” rating and a $240.00 target price on the stock. BidaskClub lowered shares of NetEase from a “sell” rating to a “strong sell” rating in a research report on Tuesday, January 23rd. CLSA upgraded shares of NetEase from an “underperform” rating to a “buy” rating in a research report on Wednesday, April 25th. Finally, Zacks Investment Research lowered shares of NetEase from a “hold” rating to a “sell” rating in a research report on Saturday, March 31st. Six investment analysts have rated the stock with a sell rating, three have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. NetEase presently has an average rating of “Hold” and a consensus target price of $329.40.
Shares of NetEase opened at $246.33 on Monday, MarketBeat Ratings reports. NetEase has a 1 year low of $240.07 and a 1 year high of $377.64. The company has a market cap of $32.35 billion, a PE ratio of 19.85, a P/E/G ratio of 1.56 and a beta of 0.89.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 8th. Stockholders of record on Friday, June 1st will be given a dividend of $0.23 per share. The ex-dividend date is Thursday, May 31st. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.37%. NetEase’s payout ratio is 24.17%.
NetEase, Inc operates an interactive online community in the People's Republic of China. The company operates through Online Game Services; Advertising Services; and E-mail, E-commerce and Others segments. It offers PC-client massively multi-player online role-playing games and mobile games; and distributes its point cards to gamers.
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