Dodge & Cox Has $348.45 Million Stake in NetEase, Inc. $NTES

Dodge & Cox reduced its stake in shares of NetEase, Inc. (NASDAQ:NTES) by 16.5% in the 3rd quarter, Holdings Channel reports. The firm owned 2,292,576 shares of the technology company’s stock after selling 453,200 shares during the quarter. Dodge & Cox’s holdings in NetEase were worth $348,449,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank of Montreal Can grew its position in shares of NetEase by 1,636.4% in the 3rd quarter. Bank of Montreal Can now owns 662,557 shares of the technology company’s stock valued at $100,702,000 after buying an additional 624,399 shares during the last quarter. Man Group plc raised its position in shares of NetEase by 33.3% during the second quarter. Man Group plc now owns 983,156 shares of the technology company’s stock worth $132,313,000 after acquiring an additional 245,872 shares during the last quarter. Causeway Capital Management LLC raised its position in shares of NetEase by 44.6% during the third quarter. Causeway Capital Management LLC now owns 638,315 shares of the technology company’s stock worth $97,017,000 after acquiring an additional 196,821 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its stake in shares of NetEase by 103.0% in the second quarter. BI Asset Management Fondsmaeglerselskab A S now owns 332,195 shares of the technology company’s stock worth $44,707,000 after acquiring an additional 168,573 shares during the period. Finally, Ameriprise Financial Inc. lifted its stake in shares of NetEase by 351.5% in the second quarter. Ameriprise Financial Inc. now owns 187,415 shares of the technology company’s stock worth $25,221,000 after acquiring an additional 145,906 shares during the period. 11.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Barclays decreased their target price on shares of NetEase from $135.00 to $132.00 and set an “equal weight” rating for the company in a research report on Thursday, February 12th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of NetEase in a research note on Monday, December 22nd. Citigroup reiterated a “buy” rating on shares of NetEase in a research report on Wednesday, February 11th. Benchmark reissued a “buy” rating on shares of NetEase in a research note on Thursday, February 12th. Finally, Wall Street Zen lowered shares of NetEase from a “buy” rating to a “hold” rating in a report on Sunday, November 23rd. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, NetEase has an average rating of “Moderate Buy” and a consensus target price of $153.89.

NetEase Trading Up 1.1%

Shares of NASDAQ NTES opened at $117.51 on Friday. The firm has a market capitalization of $74.45 billion, a P/E ratio of 16.01, a P/E/G ratio of 1.48 and a beta of 0.74. The firm’s 50-day moving average price is $126.28 and its 200-day moving average price is $137.15. NetEase, Inc. has a 1-year low of $88.54 and a 1-year high of $159.55.

NetEase Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Monday, March 16th will be issued a $1.16 dividend. The ex-dividend date is Monday, March 16th. This is an increase from NetEase’s previous quarterly dividend of $0.57. This represents a $4.64 annualized dividend and a yield of 3.9%. NetEase’s dividend payout ratio is currently 30.93%.

NetEase Profile

NetEase, Inc (NASDAQ: NTES) is a Chinese technology company headquartered in Hangzhou that develops and operates Internet services and products. Founded in 1997 by William Ding (Ding Lei), the company has grown from an early web portal and e-mail provider into a diversified online services group. William Ding has served as the company’s founder and long-time leader, guiding its expansion into games, digital content and consumer services.

The company’s primary business is interactive entertainment: NetEase Games designs, develops and publishes PC and mobile games for domestic and international audiences, offering a mix of self-developed franchises and titles published under licensing and strategic partnerships.