Nordea Investment Management AB Sells 71,152 Shares of NetEase, Inc. (NASDAQ:NTES)

Nordea Investment Management AB trimmed its position in NetEase, Inc. (NASDAQ:NTES - Free Report) by 18.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 316,638 shares of the technology company's stock after selling 71,152 shares during the quarter. Nordea Investment Management AB's holdings in NetEase were worth $28,415,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. SYSTM Wealth Solutions LLC raised its stake in NetEase by 55.5% in the second quarter. SYSTM Wealth Solutions LLC now owns 328 shares of the technology company's stock valued at $31,000 after buying an additional 117 shares during the period. Ariadne Wealth Management LP acquired a new position in shares of NetEase during the 2nd quarter worth approximately $35,000. Highline Wealth Partners LLC bought a new stake in NetEase in the 3rd quarter valued at $45,000. RPg Family Wealth Advisory LLC acquired a new stake in NetEase during the 3rd quarter valued at $70,000. Finally, Allspring Global Investments Holdings LLC bought a new position in NetEase during the third quarter worth $76,000. 11.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

NTES has been the topic of several research analyst reports. Citigroup increased their price objective on shares of NetEase from $108.00 to $115.00 and gave the company a "buy" rating in a research report on Friday, November 15th. 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 raised their price objective for the stock from $90.00 to $108.00 in a research report on Wednesday. Finally, Benchmark decreased their target price on NetEase from $120.00 to $105.00 and set a "buy" rating on the stock in a research report on Friday, November 15th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $108.43.

NetEase Stock Up 2.9 %

Shares of NTES traded up $2.56 during mid-day trading on Wednesday, hitting $92.28. 1,065,673 shares of the company's stock were exchanged, compared to its average volume of 983,514. NetEase, Inc. has a 52 week low of $75.85 and a 52 week high of $114.50. The stock's 50-day simple moving average is $88.02 and its 200-day simple moving average is $87.80. The firm has a market cap of $59.26 billion, a price-to-earnings ratio of 15.59, a price-to-earnings-growth ratio of 3.53 and a beta of 0.57.

NetEase Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were paid a $0.435 dividend. This represents a $1.74 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date was Friday, November 29th. NetEase's dividend payout ratio (DPR) is presently 29.22%.

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.