Matthews International Capital Management LLC Purchases 336,452 Shares of NetEase, Inc. $NTES

Matthews International Capital Management LLC purchased a new stake in shares of NetEase, Inc. (NASDAQ:NTES) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 336,452 shares of the technology company’s stock, valued at approximately $40,765,000. NetEase accounts for approximately 16.6% of Matthews International Capital Management LLC’s investment portfolio, making the stock its largest holding. Matthews International Capital Management LLC owned approximately 0.05% of NetEase at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of NTES. Carrhae Capital LLP increased its stake in NetEase by 343.2% during the 2nd quarter. Carrhae Capital LLP now owns 306,577 shares of the technology company’s stock valued at $39,285,000 after buying an additional 237,410 shares during the period. XY Capital Ltd bought a new stake in shares of NetEase during the 2nd quarter worth about $1,312,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of NetEase during the 3rd quarter worth about $1,996,000. Lazard Asset Management LLC lifted its stake in shares of NetEase by 64.2% in the 1st quarter. Lazard Asset Management LLC now owns 581,720 shares of the technology company’s stock worth $65,118,000 after acquiring an additional 227,433 shares during the period. Finally, Perpetual Ltd acquired a new position in shares of NetEase during the 3rd quarter valued at $24,089,000. Institutional investors and hedge funds own 11.07% of the company’s stock.

Insider Activity

In other news, VP Aileen Mo sold 716 shares of the business’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $120.64, for a total transaction of $86,378.24. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 54.70% of the stock is owned by corporate insiders.

NetEase Trading Down 1.2%

NTES stock opened at $128.03 on Wednesday. NetEase, Inc. has a one year low of $106.06 and a one year high of $149.11. The firm has a market capitalization of $81.97 billion, a PE ratio of 17.63, a P/E/G ratio of 1.54 and a beta of 0.64. The firm has a 50-day moving average of $119.93 and a two-hundred day moving average of $120.86.

NetEase Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 18th. Stockholders of record on Thursday, September 3rd were issued a dividend of $0.48 per share. This is a decrease from NetEase’s previous quarterly dividend of $0.72. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Thursday, September 3rd. NetEase’s dividend payout ratio (DPR) is presently 26.31%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on NTES shares. Weiss Ratings reissued a “hold (c)” rating on shares of NetEase in a research note on Monday, November 2nd. Zacks Research lowered NetEase from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 20th. Wall Street Zen cut NetEase from a “buy” rating to a “hold” rating in a research note on Sunday, August 2nd. Nomura lifted their target price on NetEase from $155.00 to $157.00 and gave the stock a “buy” rating in a report on Tuesday, August 25th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and set a $160.00 target price on shares of NetEase in a report on Friday, August 21st. Six equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $159.86.

NetEase Company Profile

NetEase, Inc. is a China-based internet technology company best known for developing and publishing online games. Its portfolio includes titles such as Fantasy Westward Journey and Identity V, as well as games for mobile and other platforms. The company serves players in China and international markets. NetEase also operates NetEase Cloud Music, a music streaming and social platform, and Youdao, which provides digital learning services and education technology products. Its businesses span game development and publishing, music, and online learning.