Core Alternative Capital Cuts Stake in NetEase, Inc. (NASDAQ:NTES)

Core Alternative Capital lowered its position in shares of NetEase, Inc. (NASDAQ:NTES) by 45.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 300 shares of the technology company’s stock after selling 245 shares during the quarter. Core Alternative Capital’s holdings in NetEase were worth $27,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. 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 valued at $40,000 after acquiring an additional 111 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in NetEase by 1.6% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,190 shares of the technology company’s stock valued at $641,000 after acquiring an additional 114 shares during the last quarter. Brighton Jones LLC grew its stake in NetEase by 1.1% in the 4th quarter. Brighton Jones LLC now owns 10,297 shares of the technology company’s stock valued at $919,000 after acquiring an additional 117 shares during the last quarter. State Street Corp lifted its holdings in NetEase by 0.3% in the 3rd quarter. State Street Corp now owns 56,729 shares of the technology company’s stock valued at $5,305,000 after purchasing an additional 156 shares in the last quarter. Finally, Euro Pacific Asset Management LLC lifted its holdings in NetEase by 1.3% in the 4th quarter. Euro Pacific Asset Management LLC now owns 13,137 shares of the technology company’s stock valued at $1,172,000 after purchasing an additional 173 shares in the last quarter. Hedge funds and other institutional investors own 11.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on NTES. Citigroup upped their target price on shares of NetEase from $108.00 to $115.00 and gave the company a “buy” rating in a report on Friday, November 15th. Benchmark reduced their target price on shares of NetEase from $120.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, November 15th. Morgan Stanley upgraded shares of NetEase from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $90.00 to $108.00 in a report on Wednesday, January 8th. StockNews.com lowered shares of NetEase from a “strong-buy” rating to a “buy” rating in a report on Friday, December 6th. Finally, Bank of America upped their target price on shares of NetEase from $120.00 to $122.00 and gave the company a “buy” rating in a report on Wednesday, January 15th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $108.71.

NetEase Price Performance

Shares of NTES stock opened at $104.93 on Tuesday. The firm has a market cap of $67.38 billion, a P/E ratio of 17.72, a PEG ratio of 3.45 and a beta of 0.58. NetEase, Inc. has a 1-year low of $75.85 and a 1-year high of $114.50. The firm’s 50-day simple moving average is $95.61 and its 200-day simple moving average is $88.81.

NetEase Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were issued a dividend of $0.435 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.74 annualized dividend and a dividend yield of 1.66%. NetEase’s payout ratio is currently 29.22%.

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.