Fox Run Management L.L.C. reduced its stake in shares of NetEase, Inc. (NASDAQ:NTES) by 41.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 700 shares of the technology company’s stock after selling 500 shares during the period. Fox Run Management L.L.C.’s holdings in NetEase were worth $210,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. USA Financial Portformulas Corp raised its stake in shares of NetEase by 308.1% in the fourth quarter. USA Financial Portformulas Corp now owns 29,359 shares of the technology company’s stock valued at $6,322,000 after buying an additional 22,165 shares in the last quarter. Cim LLC raised its position in NetEase by 2.2% in the first quarter. Cim LLC now owns 3,601 shares of the technology company’s stock worth $1,023,000 after buying an additional 79 shares in the last quarter. Fisher Asset Management LLC acquired a new position in NetEase during the first quarter worth approximately $98,415,000. Wetherby Asset Management Inc. raised its position in NetEase by 37.6% in the first quarter. Wetherby Asset Management Inc. now owns 1,380 shares of the technology company’s stock worth $392,000 after buying an additional 377 shares in the last quarter. Finally, UBS Asset Management Americas Inc. raised its position in NetEase by 9.8% in the fourth quarter. UBS Asset Management Americas Inc. now owns 833,766 shares of the technology company’s stock worth $179,544,000 after buying an additional 74,585 shares in the last quarter. 55.53% of the stock is currently owned by institutional investors and hedge funds.
Shares of NetEase, Inc. (NASDAQ NTES) opened at 280.9600 on Friday. NetEase, Inc. has a 12-month low of $199.13 and a 12-month high of $337.55.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 25th will be issued a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 1.18%. The ex-dividend date is Wednesday, August 23rd. NetEase’s dividend payout ratio (DPR) is 24.73%.
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A number of equities analysts have commented on the company. CLSA lowered NetEase from an “outperform” rating to an “underperform” rating in a research note on Thursday. BidaskClub raised NetEase from a “hold” rating to a “buy” rating in a research note on Thursday. Vetr lowered NetEase from a “strong-buy” rating to a “buy” rating and set a $318.49 price objective on the stock. in a research note on Monday, May 22nd. Standpoint Research lowered NetEase from a “buy” rating to a “reduce” rating and boosted their price objective for the stock from $345.00 to $360.00 in a research note on Wednesday, June 7th. Finally, Zacks Investment Research raised NetEase from a “hold” rating to a “strong-buy” rating and set a $346.00 price objective on the stock in a research note on Wednesday, July 12th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $301.90.
NetEase Company Profile
NetEase, Inc (NetEase) is a technology company. The Company operates an interactive online community in China and is a provider of Chinese language content and services through its online games, Internet media, e-mail, e-commerce and other businesses. The Company operates through three segments: Online Game Services; Advertising Services, and E-mail, E-commerce and Others.
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