Alberta Investment Management Corp Sells 64,804 Shares of NetEase, Inc. (NASDAQ:NTES)

Alberta Investment Management Corp reduced its holdings in NetEase, Inc. (NASDAQ:NTES - Free Report) by 95.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 3,400 shares of the technology company's stock after selling 64,804 shares during the quarter. Alberta Investment Management Corp's holdings in NetEase were worth $303,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of NTES. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of 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 valued at $585,227,000 after purchasing an additional 6,213,248 shares during the last quarter. Hhlr Advisors LTD. lifted its position in NetEase by 86.8% in the 3rd quarter. Hhlr Advisors LTD. now owns 2,588,943 shares of the technology company's stock valued at $242,092,000 after purchasing an additional 1,203,129 shares during the last quarter. Fisher Asset Management LLC raised its holdings in shares of NetEase by 7.8% during the third quarter. Fisher Asset Management LLC now owns 1,145,657 shares of the technology company's stock valued at $107,130,000 after buying an additional 82,474 shares during the last quarter. Wellington Management Group LLP boosted its position in NetEase by 1.1% during the 3rd quarter. Wellington Management Group LLP now owns 1,020,213 shares of the technology company's stock worth $95,400,000 after acquiring an additional 10,920 shares during the period. Finally, Van ECK Associates Corp raised its stake in shares of NetEase by 12.3% during the third quarter. Van ECK Associates Corp now owns 666,411 shares of the technology company's stock valued at $62,316,000 after purchasing an additional 72,988 shares in the last quarter. 11.07% of the stock is owned by institutional investors and hedge funds.

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NetEase Stock Performance

Shares of NASDAQ:NTES traded up $1.61 during midday trading on Wednesday, hitting $101.22. 700,375 shares of the stock were exchanged, compared to its average volume of 1,372,869. The company has a market capitalization of $65.00 billion, a PE ratio of 15.92, a P/E/G ratio of 3.37 and a beta of 0.58. NetEase, Inc. has a 52-week low of $75.85 and a 52-week high of $114.50. The business's fifty day simple moving average is $98.00 and its two-hundred day simple moving average is $89.91.

NetEase (NASDAQ:NTES - Get Free Report) last announced its earnings results on Thursday, February 20th. The technology company reported $1.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.73 by $0.14. The business had revenue of $3.66 billion for the quarter, compared to analyst estimates of $27.16 billion. NetEase had a net margin of 28.17% and a return on equity of 22.12%. As a group, equities analysts anticipate that NetEase, Inc. will post 6.91 EPS for the current year.

NetEase Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th will be given a $0.435 dividend. This represents a $1.74 annualized dividend and a yield of 1.72%. The ex-dividend date is Thursday, March 6th. NetEase's payout ratio is presently 76.61%.

Analysts Set New Price Targets

Several brokerages recently commented on NTES. Barclays boosted their target price on NetEase from $82.00 to $104.00 and gave the stock an "equal weight" rating in a report on Monday. Bank of America raised their target price on NetEase from $120.00 to $122.00 and gave the company a "buy" rating in a research note on Wednesday, January 15th. Morgan Stanley boosted their price target on shares of NetEase from $108.00 to $117.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 12th. Benchmark raised their price objective on shares of NetEase from $105.00 to $115.00 and gave the company a "buy" rating in a research report on Friday, February 21st. Finally, StockNews.com downgraded shares of NetEase from a "strong-buy" rating to a "buy" rating in a report on Friday, December 6th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $114.57.

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.