Wellington Management Group LLP Trims Stake in NetEase, Inc. (NASDAQ:NTES)

Wellington Management Group LLP cut its position in shares of NetEase, Inc. (NASDAQ:NTES) by 7.9% in the fourth quarter, HoldingsChannel reports. The firm owned 939,518 shares of the technology company’s stock after selling 80,695 shares during the period. Wellington Management Group LLP’s holdings in NetEase were worth $83,814,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. WT Asset Management Ltd purchased a new stake in NetEase in the fourth quarter worth about $2,624,000. SG Americas Securities LLC purchased a new stake in shares of NetEase in the 4th quarter worth approximately $654,000. APEIRON CAPITAL Ltd lifted its position in shares of NetEase by 20.5% in the 4th quarter. APEIRON CAPITAL Ltd now owns 129,321 shares of the technology company’s stock worth $11,537,000 after purchasing an additional 22,000 shares during the period. SVB Wealth LLC bought a new position in shares of NetEase during the fourth quarter valued at approximately $3,817,000. Finally, Greenwoods Asset Management Hong Kong Ltd. increased its holdings in NetEase by 10.8% during the fourth quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 3,632,870 shares of the technology company’s stock valued at $324,088,000 after buying an additional 354,273 shares during the period. 11.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on NTES shares. Barclays increased their target price on NetEase from $82.00 to $104.00 and gave the company an “equal weight” rating in a research report on Monday, February 24th. Benchmark raised their price objective on NetEase from $105.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Morgan Stanley boosted their target price on shares of NetEase from $108.00 to $117.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. StockNews.com cut shares of NetEase from a “strong-buy” rating to a “buy” rating in a report on Friday, December 6th. Finally, Bank of America boosted their price objective on shares of NetEase from $120.00 to $122.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. One 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 stock currently has an average rating of “Moderate Buy” and an average price target of $114.57.

NetEase Stock Down 5.8 %

NTES stock opened at $98.86 on Friday. The stock has a market capitalization of $63.48 billion, a PE ratio of 15.52, a price-to-earnings-growth ratio of 3.37 and a beta of 0.61. NetEase, Inc. has a 52 week low of $75.85 and a 52 week high of $110.15. The firm has a 50 day moving average of $102.39 and a 200 day moving average of $93.51.

NetEase (NASDAQ:NTES) last announced its quarterly earnings data on Thursday, February 20th. The technology company reported $1.87 earnings per share for the quarter, beating analysts’ consensus estimates of $1.73 by $0.14. The firm 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%. On average, equities research analysts expect that NetEase, Inc. will post 6.91 earnings per share for the current year.

NetEase Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th were paid a $0.435 dividend. This represents a $1.74 annualized dividend and a dividend yield of 1.76%. The ex-dividend date was Thursday, March 6th. NetEase’s payout ratio is 76.45%.

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.