Genesis Investment Management LLP Trims Stake in NetEase, Inc. (NASDAQ:NTES)

Genesis Investment Management LLP decreased its position in shares of NetEase, Inc. (NASDAQ:NTES) by 76.3% in the 4th quarter, Holdings Channel reports. The firm owned 86,209 shares of the technology company’s stock after selling 277,794 shares during the quarter. NetEase accounts for about 8.4% of Genesis Investment Management LLP’s portfolio, making the stock its 4th largest holding. Genesis Investment Management LLP’s holdings in NetEase were worth $7,691,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NTES. UMB Bank n.a. grew its stake in NetEase by 33.3% during the fourth quarter. UMB Bank n.a. now owns 444 shares of the technology company’s stock worth $40,000 after purchasing an additional 111 shares during the period. State Street Corp raised its holdings 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 valued at $5,305,000 after purchasing an additional 156 shares during the period. Financial Advocates Investment Management increased its position in NetEase by 5.4% in the 3rd quarter. Financial Advocates Investment Management now owns 4,647 shares of the technology company’s stock valued at $435,000 after buying an additional 237 shares in the last quarter. Brandes Investment Partners LP grew its stake in NetEase by 1.2% in the second quarter. Brandes Investment Partners LP now owns 20,880 shares of the technology company’s stock valued at $2,000,000 after acquiring an additional 248 shares during the period. Finally, Financial Counselors Inc. raised its position in shares of NetEase by 8.0% during the third quarter. Financial Counselors Inc. now owns 3,404 shares of the technology company’s stock worth $318,000 after purchasing an additional 252 shares during the period. Institutional investors and hedge funds own 11.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Morgan Stanley raised shares of NetEase from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $90.00 to $108.00 in a research report on Wednesday, January 8th. Citigroup raised their target price on NetEase from $108.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, November 15th. StockNews.com downgraded NetEase from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 6th. Bank of America boosted their price objective on NetEase from $120.00 to $122.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. Finally, Benchmark reduced their price objective on shares of NetEase from $120.00 to $105.00 and set a “buy” rating for the company in a research note on Friday, November 15th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, NetEase presently has an average rating of “Moderate Buy” and an average price target of $108.71.

NetEase Price Performance

NASDAQ NTES opened at $99.76 on Tuesday. The company’s 50 day simple moving average is $90.42 and its two-hundred day simple moving average is $87.84. The stock has a market capitalization of $64.06 billion, a PE ratio of 16.85, a P/E/G ratio of 3.32 and a beta of 0.57. NetEase, Inc. has a 1 year low of $75.85 and a 1 year high of $114.50.

NetEase Announces Dividend

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

NetEase Company 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.