Allianz Asset Management GmbH Decreases Position in NetEase, Inc. (NASDAQ:NTES)

Allianz Asset Management GmbH decreased its holdings in NetEase, Inc. (NASDAQ:NTES) by 67.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,137 shares of the technology company’s stock after selling 33,863 shares during the period. Allianz Asset Management GmbH’s holdings in NetEase were worth $1,661,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of NTES. Capital World Investors lifted its holdings in NetEase by 40.6% during the 4th quarter. Capital World Investors now owns 3,725,046 shares of the technology company’s stock worth $332,311,000 after buying an additional 1,074,818 shares during the last quarter. Lazard Asset Management LLC lifted its stake in NetEase by 2.0% during the fourth quarter. Lazard Asset Management LLC now owns 3,599,794 shares of the technology company’s stock worth $321,137,000 after purchasing an additional 69,789 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in NetEase by 7,698.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,817,021 shares of the technology company’s stock valued at $289,928,000 after purchasing an additional 2,780,897 shares in the last quarter. Dodge & Cox increased its stake in NetEase by 0.6% in the fourth quarter. Dodge & Cox now owns 2,649,876 shares of the technology company’s stock valued at $236,395,000 after purchasing an additional 15,900 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in NetEase by 88.0% during the fourth quarter. Invesco Ltd. now owns 2,365,464 shares of the technology company’s stock worth $211,023,000 after purchasing an additional 1,107,363 shares in the last quarter. Hedge funds and other institutional investors own 11.07% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on NTES shares. JPMorgan Chase & Co. cut shares of NetEase from an “overweight” rating to a “neutral” rating and upped their target price for the company from $135.00 to $140.00 in a report on Monday. Barclays raised their price objective on NetEase from $104.00 to $118.00 and gave the stock an “equal weight” rating in a report on Friday, May 16th. Wall Street Zen raised NetEase from a “buy” rating to a “strong-buy” rating in a report on Thursday, May 22nd. Finally, Deutsche Bank Aktiengesellschaft started coverage on NetEase in a research report on Monday, May 12th. They issued a “buy” rating and a $130.00 target price for the company. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, NetEase presently has an average rating of “Moderate Buy” and a consensus target price of $120.00.

NetEase Stock Performance

Shares of NTES opened at $130.32 on Thursday. NetEase, Inc. has a fifty-two week low of $75.85 and a fifty-two week high of $141.45. The firm has a 50-day simple moving average of $130.42 and a 200-day simple moving average of $112.38. The company has a market capitalization of $82.57 billion, a price-to-earnings ratio of 18.75, a price-to-earnings-growth ratio of 4.56 and a beta of 0.69.

NetEase Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were paid a dividend of $0.675 per share. This represents a $2.70 annualized dividend and a yield of 2.07%. The ex-dividend date was Friday, May 30th. NetEase’s dividend payout ratio is presently 38.71%.

NetEase Profile

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.