Matthews International Capital Management LLC Has $8 Million Stock Holdings in NetEase, Inc. (NASDAQ:NTES)

Matthews International Capital Management LLC trimmed its holdings in shares of NetEase, Inc. (NASDAQ:NTES - Free Report) by 3.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 89,650 shares of the technology company's stock after selling 2,865 shares during the period. NetEase accounts for approximately 1.6% of Matthews International Capital Management LLC's holdings, making the stock its 17th largest holding. Matthews International Capital Management LLC's holdings in NetEase were worth $7,998,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in NetEase by 13,747.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,258,442 shares of the technology company's stock worth $585,227,000 after acquiring an additional 6,213,248 shares in the last quarter. Hhlr Advisors LTD. grew its stake in shares of NetEase by 86.8% during the 3rd quarter. Hhlr Advisors LTD. now owns 2,588,943 shares of the technology company's stock worth $242,092,000 after acquiring an additional 1,203,129 shares in the last quarter. Temasek Holdings Private Ltd acquired a new stake in NetEase in the 3rd quarter valued at $51,498,000. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in NetEase by 472.6% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 418,000 shares of the technology company's stock worth $39,087,000 after acquiring an additional 345,000 shares in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in NetEase during the third quarter valued at approximately $11,636,000. 11.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NTES has been the subject of several recent research reports. Citigroup increased their price target on NetEase from $108.00 to $115.00 and gave the company a "buy" rating in a research report on Friday, November 15th. Bank of America raised their price objective on NetEase from $120.00 to $122.00 and gave the company a "buy" rating in a research report on Wednesday, January 15th. Benchmark cut their price objective on NetEase from $120.00 to $105.00 and set a "buy" rating for the company in a research report on Friday, November 15th. StockNews.com cut NetEase from a "strong-buy" rating to a "buy" rating in a report on Friday, December 6th. Finally, Morgan Stanley raised NetEase from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $90.00 to $108.00 in a report on Wednesday, January 8th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, NetEase has an average rating of "Moderate Buy" and a consensus price target of $108.71.

NetEase Stock Down 1.9 %

Shares of NTES traded down $2.03 during midday trading on Friday, hitting $102.85. The company's stock had a trading volume of 1,039,045 shares, compared to its average volume of 1,367,336. NetEase, Inc. has a one year low of $75.85 and a one year high of $114.50. The company's fifty day simple moving average is $93.65 and its two-hundred day simple moving average is $88.47. The stock has a market capitalization of $66.05 billion, a price-to-earnings ratio of 17.37, a price-to-earnings-growth ratio of 3.37 and a beta of 0.57.

NetEase Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were issued a dividend of $0.435 per share. This represents a $1.74 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend was Friday, November 29th. 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.