TB Alternative Assets Ltd. Sells 7,335 Shares of NetEase, Inc. (NASDAQ:NTES)

TB Alternative Assets Ltd. lessened its holdings in shares of NetEase, Inc. (NASDAQ:NTES - Free Report) by 26.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,595 shares of the technology company's stock after selling 7,335 shares during the quarter. TB Alternative Assets Ltd.'s holdings in NetEase were worth $1,837,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of NTES. UMB Bank n.a. grew its stake in NetEase by 33.3% in the 4th quarter. UMB Bank n.a. now owns 444 shares of the technology company's stock worth $40,000 after buying an additional 111 shares in the last quarter. State Street Corp increased its stake in NetEase by 0.3% in the third quarter. State Street Corp now owns 56,729 shares of the technology company's stock valued at $5,305,000 after acquiring an additional 156 shares during the last quarter. Financial Advocates Investment Management raised its position in NetEase by 5.4% during the third quarter. Financial Advocates Investment Management now owns 4,647 shares of the technology company's stock valued at $435,000 after purchasing an additional 237 shares in the last quarter. Brandes Investment Partners LP lifted its stake in NetEase by 1.2% during the second quarter. Brandes Investment Partners LP now owns 20,880 shares of the technology company's stock worth $2,000,000 after purchasing an additional 248 shares during the last quarter. Finally, Financial Counselors Inc. boosted its holdings in shares of NetEase by 8.0% in the 3rd quarter. Financial Counselors Inc. now owns 3,404 shares of the technology company's stock worth $318,000 after purchasing an additional 252 shares in the last quarter. 11.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

NTES has been the subject of a number of recent research reports. Bank of America boosted their target price on NetEase from $120.00 to $122.00 and gave the stock a "buy" rating in a research report on Wednesday, January 15th. StockNews.com lowered shares of NetEase from a "strong-buy" rating to a "buy" rating in a report on Friday, December 6th. Citigroup lifted their target price 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. Morgan Stanley upgraded shares of NetEase from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $90.00 to $108.00 in a research report on Wednesday, January 8th. Finally, Benchmark decreased their price objective on NetEase from $120.00 to $105.00 and set a "buy" rating on the stock in a report on Friday, November 15th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $108.71.

NetEase Stock Up 1.0 %

Shares of NASDAQ NTES traded up $0.95 on Tuesday, reaching $100.71. 1,808,788 shares of the company's stock traded hands, compared to its average volume of 1,613,740. The business's 50 day simple moving average is $90.87 and its two-hundred day simple moving average is $87.87. NetEase, Inc. has a 12 month low of $75.85 and a 12 month high of $114.50. The company has a market cap of $64.67 billion, a price-to-earnings ratio of 17.01, a price-to-earnings-growth ratio of 3.32 and a beta of 0.57.

NetEase Announces Dividend

The company 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 1.73%. The ex-dividend date was Friday, November 29th. NetEase's payout ratio is 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.