NetEase, Inc. (NASDAQ:NTES) Shares Sold by Core Alternative Capital

Core Alternative Capital lowered its holdings in NetEase, Inc. (NASDAQ:NTES) by 45.0% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 300 shares of the technology company’s stock after selling 245 shares during the period. Core Alternative Capital’s holdings in NetEase were worth $27,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Focus Financial Network Inc. acquired a new position in shares of NetEase in the fourth quarter valued at approximately $318,000. Empowered Funds LLC acquired a new position in NetEase during the 4th quarter worth approximately $174,000. Sumitomo Mitsui Trust Group Inc. grew its holdings in NetEase by 1.6% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,190 shares of the technology company’s stock worth $641,000 after acquiring an additional 114 shares in the last quarter. WT Asset Management Ltd acquired a new position in NetEase during the 4th quarter worth approximately $2,624,000. Finally, Ping Capital Management Inc. grew its holdings in NetEase by 120.0% during the 4th quarter. Ping Capital Management Inc. now owns 5,500 shares of the technology company’s stock worth $491,000 after acquiring an additional 3,000 shares in the last quarter. Institutional investors and hedge funds own 11.07% of the company’s stock.

Wall Street Analysts Forecast Growth

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

NetEase Trading Up 0.7 %

Shares of NASDAQ:NTES opened at $104.93 on Tuesday. The firm has a 50 day simple moving average of $95.61 and a 200-day simple moving average of $88.81. NetEase, Inc. has a twelve month low of $75.85 and a twelve month high of $114.50. The company has a market capitalization of $67.38 billion, a PE ratio of 17.72, a P/E/G ratio of 3.45 and a beta of 0.58.

NetEase Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were given a $0.435 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.74 annualized dividend and a yield of 1.66%. NetEase’s dividend payout ratio (DPR) 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.