Pictet Asset Management SA Sells 22,412 Shares of NetEase, Inc. (NASDAQ:NTES)

Pictet Asset Management SA lessened its holdings in shares of NetEase, Inc. (NASDAQ:NTESGet Rating) by 30.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 50,065 shares of the technology company’s stock after selling 22,412 shares during the quarter. Pictet Asset Management SA’s holdings in NetEase were worth $4,674,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. NN Investment Partners Holdings N.V. raised its holdings in shares of NetEase by 20.2% during the first quarter. NN Investment Partners Holdings N.V. now owns 193,100 shares of the technology company’s stock valued at $17,319,000 after acquiring an additional 32,400 shares in the last quarter. Parametrica Management Ltd bought a new position in shares of NetEase during the first quarter valued at approximately $349,000. Toroso Investments LLC raised its holdings in shares of NetEase by 1.1% during the first quarter. Toroso Investments LLC now owns 88,899 shares of the technology company’s stock valued at $7,973,000 after acquiring an additional 977 shares in the last quarter. Flossbach Von Storch AG raised its holdings in shares of NetEase by 8.2% during the first quarter. Flossbach Von Storch AG now owns 46,000 shares of the technology company’s stock valued at $4,126,000 after acquiring an additional 3,500 shares in the last quarter. Finally, Sierra Capital LLC raised its holdings in shares of NetEase by 32.7% during the second quarter. Sierra Capital LLC now owns 1,516 shares of the technology company’s stock valued at $142,000 after acquiring an additional 374 shares in the last quarter. Institutional investors own 14.76% of the company’s stock.

NetEase Trading Down 5.0 %

NASDAQ NTES opened at $67.44 on Friday. NetEase, Inc. has a 12 month low of $53.09 and a 12 month high of $118.19. The stock has a market cap of $44.16 billion, a P/E ratio of 13.46, a P/E/G ratio of 1.23 and a beta of 0.37. The stock’s fifty day moving average price is $70.86 and its 200-day moving average price is $85.32. The company has a current ratio of 2.23, a quick ratio of 2.21 and a debt-to-equity ratio of 0.03.

NetEase (NASDAQ:NTESGet Rating) last released its earnings results on Thursday, August 18th. The technology company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.14. NetEase had a return on equity of 20.48% and a net margin of 22.99%. The firm had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.44 billion. As a group, equities analysts forecast that NetEase, Inc. will post 4.12 EPS for the current fiscal year.

NetEase Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 16th. Stockholders of record on Friday, December 2nd will be paid a $0.435 dividend. This is a boost from NetEase’s previous quarterly dividend of $0.36. This represents a $1.74 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date of this dividend is Thursday, December 1st. NetEase’s dividend payout ratio is currently 28.54%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on NTES shares. JPMorgan Chase & Co. downgraded NetEase from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $120.00 to $90.00 in a report on Wednesday, September 7th. HSBC decreased their price objective on NetEase from $122.00 to $105.00 and set a “buy” rating for the company in a report on Friday. StockNews.com downgraded NetEase from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 15th. TheStreet downgraded NetEase from a “b-” rating to a “c” rating in a report on Monday, November 7th. Finally, Citigroup increased their price objective on NetEase from $98.00 to $100.00 and gave the stock a “buy” rating in a report on Friday. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $111.50.

NetEase Profile

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NetEase, Inc provides online services focusing on diverse content, community, communication, and commerce in the Peoples' Republic of China and internationally. The company operates in three segments: Online Game Services, Youdao, Cloud Music, and Innovative Businesses and Others. It develops and operates PC and mobile games, as well as offers games licensed from other game developers.

Further Reading

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Institutional Ownership by Quarter for NetEase (NASDAQ:NTES)

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