Rhumbline Advisers Decreases Position in NetEase, Inc. $NTES

Rhumbline Advisers cut its holdings in NetEase, Inc. (NASDAQ:NTES) by 74.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,721 shares of the technology company’s stock after selling 19,786 shares during the period. Rhumbline Advisers’ holdings in NetEase were worth $1,022,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ninety One UK Ltd increased its holdings in shares of NetEase by 0.5% in the third quarter. Ninety One UK Ltd now owns 6,296,150 shares of the technology company’s stock worth $956,952,000 after buying an additional 28,381 shares during the period. Arrowstreet Capital Limited Partnership grew its position in NetEase by 2.1% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,977,146 shares of the technology company’s stock worth $266,084,000 after acquiring an additional 40,871 shares during the last quarter. Man Group plc grew its position in NetEase by 33.3% during the 2nd quarter. Man Group plc now owns 983,156 shares of the technology company’s stock worth $132,313,000 after acquiring an additional 245,872 shares during the last quarter. American Century Companies Inc. increased its stake in NetEase by 19.7% in the 2nd quarter. American Century Companies Inc. now owns 748,450 shares of the technology company’s stock worth $100,726,000 after purchasing an additional 122,951 shares during the period. Finally, Handelsbanken Fonder AB lifted its position in NetEase by 2.0% in the second quarter. Handelsbanken Fonder AB now owns 512,115 shares of the technology company’s stock valued at $68,920,000 after purchasing an additional 10,000 shares during the last quarter. 11.07% of the stock is owned by institutional investors.

NetEase Stock Performance

NetEase stock opened at $115.19 on Tuesday. NetEase, Inc. has a fifty-two week low of $88.54 and a fifty-two week high of $159.55. The stock’s 50 day simple moving average is $130.36 and its two-hundred day simple moving average is $138.15. The stock has a market cap of $72.98 billion, a price-to-earnings ratio of 15.69, a PEG ratio of 1.46 and a beta of 0.74.

NetEase Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Monday, March 16th will be given a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a dividend yield of 4.0%. This is a boost from NetEase’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Monday, March 16th. NetEase’s payout ratio is 30.93%.

Analyst Upgrades and Downgrades

NTES has been the topic of several analyst reports. Citigroup reaffirmed a “buy” rating on shares of NetEase in a research note on Wednesday, February 11th. Wall Street Zen lowered shares of NetEase from a “buy” rating to a “hold” rating in a report on Sunday, November 23rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of NetEase in a research note on Monday, December 22nd. Sanford C. Bernstein set a $155.00 target price on shares of NetEase in a report on Friday, November 21st. Finally, Morgan Stanley reissued an “overweight” rating and issued a $154.00 target price on shares of NetEase in a research note on Monday. 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.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $153.89.

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.