NetEase, Inc. $NTES Stock Position Lowered by Clark Capital Management Group Inc.

Clark Capital Management Group Inc. decreased its position in NetEase, Inc. (NASDAQ:NTES) by 45.4% in the third quarter, HoldingsChannel reports. The firm owned 248,337 shares of the technology company’s stock after selling 206,895 shares during the period. Clark Capital Management Group Inc.’s holdings in NetEase were worth $37,745,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in NetEase by 68,860.6% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,551,117 shares of the technology company’s stock valued at $1,299,684,000 after purchasing an additional 8,538,717 shares during the period. Bank of Montreal Can lifted its holdings in shares of NetEase by 1,636.4% in the third quarter. Bank of Montreal Can now owns 662,557 shares of the technology company’s stock valued at $100,702,000 after purchasing an additional 624,399 shares in the last quarter. Man Group plc boosted its position in shares of NetEase by 33.3% in the second quarter. Man Group plc now owns 983,156 shares of the technology company’s stock worth $132,313,000 after buying an additional 245,872 shares during the period. Causeway Capital Management LLC boosted its position in shares of NetEase by 44.6% in the third quarter. Causeway Capital Management LLC now owns 638,315 shares of the technology company’s stock worth $97,017,000 after buying an additional 196,821 shares during the period. Finally, Tiger Pacific Capital LP purchased a new position in shares of NetEase during the third quarter valued at $28,993,000. 11.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on NTES shares. Wall Street Zen lowered NetEase from a “buy” rating to a “hold” rating in a research report on Sunday, November 23rd. Barclays dropped their target price on NetEase from $135.00 to $132.00 and set an “equal weight” rating on the stock in a report on Thursday, February 12th. Benchmark restated a “buy” rating on shares of NetEase in a report on Thursday, February 12th. Citigroup reiterated a “buy” rating on shares of NetEase in a research note on Wednesday, February 11th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of NetEase in a research note on Monday, December 22nd. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $153.89.

NetEase Stock Performance

Shares of NTES opened at $117.51 on Monday. The firm has a market cap of $74.45 billion, a PE ratio of 16.01, a PEG ratio of 1.50 and a beta of 0.74. The firm’s 50 day moving average price is $126.28 and its 200 day moving average price is $137.16. NetEase, Inc. has a twelve month low of $88.54 and a twelve month high of $159.55.

NetEase Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Monday, March 16th will be issued a dividend of $1.16 per share. The ex-dividend date is Monday, March 16th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 3.9%. This is an increase from NetEase’s previous quarterly dividend of $0.57. NetEase’s payout ratio is 30.93%.

NetEase Profile

NetEase, Inc (NASDAQ: NTES) is a Chinese technology company headquartered in Hangzhou that develops and operates Internet services and products. Founded in 1997 by William Ding (Ding Lei), the company has grown from an early web portal and e-mail provider into a diversified online services group. William Ding has served as the company’s founder and long-time leader, guiding its expansion into games, digital content and consumer services.

The company’s primary business is interactive entertainment: NetEase Games designs, develops and publishes PC and mobile games for domestic and international audiences, offering a mix of self-developed franchises and titles published under licensing and strategic partnerships.