NetEase, Inc. $NTES Shares Sold by Fisher Asset Management LLC

Fisher Asset Management LLC reduced its stake in shares of NetEase, Inc. (NASDAQ:NTES) by 1.8% during the 4th quarter, HoldingsChannel reports. The firm owned 1,112,284 shares of the technology company’s stock after selling 20,768 shares during the quarter. Fisher Asset Management LLC’s holdings in NetEase were worth $153,073,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in NTES. Cornerstone Planning Group LLC acquired a new position in shares of NetEase during the 3rd quarter worth approximately $33,000. Smartleaf Asset Management LLC boosted its holdings in shares of NetEase by 3,381.8% during the 2nd quarter. Smartleaf Asset Management LLC now owns 383 shares of the technology company’s stock worth $51,000 after purchasing an additional 372 shares during the last quarter. Spire Wealth Management boosted its holdings in shares of NetEase by 31.3% during the 4th quarter. Spire Wealth Management now owns 436 shares of the technology company’s stock worth $60,000 after purchasing an additional 104 shares during the last quarter. Strs Ohio acquired a new position in shares of NetEase during the 1st quarter worth approximately $63,000. Finally, Brown Brothers Harriman & Co. boosted its holdings in shares of NetEase by 479.7% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 429 shares of the technology company’s stock worth $65,000 after purchasing an additional 355 shares during the last quarter. 11.07% of the stock is currently owned by institutional investors and hedge funds.

NetEase Stock Performance

NASDAQ NTES opened at $116.55 on Tuesday. The stock has a market cap of $73.84 billion, a PE ratio of 15.48, a P/E/G ratio of 1.50 and a beta of 0.72. NetEase, Inc. has a twelve month low of $106.06 and a twelve month high of $159.55. The stock has a fifty day simple moving average of $114.56 and a 200-day simple moving average of $125.93.

NetEase Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Friday, June 5th will be issued a dividend of $0.72 per share. The ex-dividend date is Friday, June 5th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.5%. NetEase’s dividend payout ratio is currently 61.49%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on NTES. Citigroup restated a “buy” rating on shares of NetEase in a report on Wednesday, February 11th. Benchmark reiterated a “buy” rating on shares of NetEase in a report on Friday. Wall Street Zen raised NetEase from a “hold” rating to a “buy” rating in a research note on Saturday. Morgan Stanley restated an “overweight” rating and issued a $154.00 target price on shares of NetEase in a research report on Monday, March 2nd. Finally, Nomura decreased their price target on NetEase from $160.00 to $155.00 and set a “buy” rating on the stock in a research note on Friday, February 13th. Seven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, NetEase presently has a consensus rating of “Moderate Buy” and a consensus target price of $156.88.

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.