Royal Bank of Canada decreased its position in shares of NetEase, Inc. (NASDAQ:NTES – Get Rating) by 22.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 203,790 shares of the technology company’s stock after selling 57,502 shares during the period. Royal Bank of Canada’s holdings in NetEase were worth $15,407,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of NTES. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp acquired a new stake in shares of NetEase in the first quarter worth $1,135,000. Sei Investments Co. grew its holdings in NetEase by 2.5% during the 1st quarter. Sei Investments Co. now owns 15,901 shares of the technology company’s stock valued at $1,432,000 after purchasing an additional 386 shares in the last quarter. Candriam Luxembourg S.C.A. bought a new position in NetEase during the 1st quarter valued at $8,461,000. West Family Investments Inc. bought a new position in NetEase during the 1st quarter valued at $266,000. Finally, XTX Topco Ltd bought a new position in NetEase during the 1st quarter valued at $246,000. Hedge funds and other institutional investors own 13.50% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research analysts have commented on NTES shares. Morgan Stanley increased their price objective on shares of NetEase from $85.00 to $95.00 in a research note on Wednesday, December 14th. StockNews.com cut shares of NetEase from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 28th. JPMorgan Chase & Co. raised shares of NetEase from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $85.00 to $100.00 in a research report on Tuesday, February 28th. TheStreet upgraded shares of NetEase from a “c+” rating to a “b-” rating in a report on Wednesday, January 18th. Finally, HSBC decreased their price target on shares of NetEase from $122.00 to $105.00 and set a “buy” rating for the company in a report on Friday, November 18th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $112.67.
NetEase Trading Up 0.7 %
NetEase Cuts Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 24th. Shareholders of record on Thursday, March 9th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend is Wednesday, March 8th. NetEase’s dividend payout ratio (DPR) is presently 38.02%.
About NetEase
NetEase, Inc is an internet technology company, which engages in the provision of premium online services centered around content, community, communication and commerce. It develops and operates some of the most popular PC-client and mobile games in China. The firm also operates some of the most popular international online games in China by partnering with Blizzard Entertainment, Mojang AB (a Microsoft subsidiary) and other global game developers.
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