Nordea Investment Management AB Increases Stock Holdings in NetEase, Inc. (NASDAQ:NTES)

Nordea Investment Management AB boosted its position in NetEase, Inc. (NASDAQ:NTES - Free Report) by 17.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 318,550 shares of the technology company's stock after purchasing an additional 46,635 shares during the quarter. Nordea Investment Management AB's holdings in NetEase were worth $33,059,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Northern Trust Corp grew its stake in shares of NetEase by 4.1% during the third quarter. Northern Trust Corp now owns 219,772 shares of the technology company's stock worth $22,012,000 after acquiring an additional 8,636 shares during the last quarter. Legal & General Group Plc grew its stake in shares of NetEase by 0.9% during the third quarter. Legal & General Group Plc now owns 277,698 shares of the technology company's stock worth $27,818,000 after acquiring an additional 2,397 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in shares of NetEase during the third quarter worth about $1,185,000. Employees Retirement System of Texas purchased a new stake in shares of NetEase during the third quarter worth about $2,767,000. Finally, Aurora Investment Counsel purchased a new stake in shares of NetEase during the third quarter worth about $2,357,000. 11.07% of the stock is currently owned by institutional investors.

NetEase Trading Up 2.0 %

NetEase stock traded up $1.81 during mid-day trading on Tuesday, hitting $93.54. The company had a trading volume of 1,768,676 shares, compared to its average volume of 1,724,049. NetEase, Inc. has a 12-month low of $81.30 and a 12-month high of $118.89. The company's fifty day moving average is $94.86 and its 200-day moving average is $97.96. The company has a market capitalization of $60.07 billion, a price-to-earnings ratio of 14.50, a P/E/G ratio of 1.83 and a beta of 0.53.

NetEase (NASDAQ:NTES - Get Free Report) last released its quarterly earnings data on Thursday, May 23rd. The technology company reported $1.63 EPS for the quarter, missing the consensus estimate of $1.68 by ($0.05). NetEase had a return on equity of 24.19% and a net margin of 28.75%. The company had revenue of $3.72 billion during the quarter, compared to analysts' expectations of $3.61 billion. As a group, sell-side analysts expect that NetEase, Inc. will post 6.68 EPS for the current fiscal year.

NetEase Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Thursday, June 6th were paid a dividend of $0.495 per share. This represents a $1.98 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend was Thursday, June 6th. NetEase's payout ratio is 30.54%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on NTES. Morgan Stanley restated an "equal weight" rating and set a $100.00 price target on shares of NetEase in a research note on Friday. Barclays started coverage on NetEase in a research report on Thursday, June 13th. They issued an "equal weight" rating and a $104.00 target price on the stock. StockNews.com lowered NetEase from a "strong-buy" rating to a "buy" rating in a research report on Thursday, June 27th. HSBC dropped their target price on NetEase from $130.00 to $126.00 and set a "buy" rating on the stock in a research report on Wednesday, April 24th. Finally, Benchmark upped their target price on NetEase from $144.00 to $145.00 and gave the company a "buy" rating in a research report on Friday, May 24th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $123.86.

About NetEase

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.