Taikang Asset Management Hong Kong Co Ltd boosted its holdings in NetEase, Inc. (NASDAQ:NTES – Free Report) by 12.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 62,000 shares of the technology company’s stock after buying an additional 7,000 shares during the period. Taikang Asset Management Hong Kong Co Ltd’s holdings in NetEase were worth $8,532,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Atlas Capital Advisors Inc. bought a new position in NetEase in the 4th quarter worth approximately $47,000. Harbour Investments Inc. lifted its position in NetEase by 7,480.0% in the fourth quarter. Harbour Investments Inc. now owns 379 shares of the technology company’s stock worth $52,000 after purchasing an additional 374 shares during the period. Smartleaf Asset Management LLC boosted its stake in NetEase by 3,381.8% during the second quarter. Smartleaf Asset Management LLC now owns 383 shares of the technology company’s stock worth $51,000 after buying an additional 372 shares in the last quarter. Brown Brothers Harriman & Co. boosted its stake in NetEase by 479.7% during the third quarter. Brown Brothers Harriman & Co. now owns 429 shares of the technology company’s stock worth $65,000 after buying an additional 355 shares in the last quarter. Finally, Spire Wealth Management increased its holdings in NetEase by 31.3% in the 4th quarter. Spire Wealth Management now owns 436 shares of the technology company’s stock valued at $60,000 after buying an additional 104 shares during the period. 11.07% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several brokerages have issued reports on NTES. Morgan Stanley reissued an “overweight” rating and issued a $158.00 price target on shares of NetEase in a report on Tuesday, May 26th. Benchmark reissued a “buy” rating on shares of NetEase in a report on Friday, May 22nd. Zacks Research raised shares of NetEase from a “hold” rating to a “strong-buy” rating in a report on Monday, June 8th. Finally, Wall Street Zen raised shares of NetEase from a “hold” rating to a “buy” rating in a report on Saturday, May 23rd. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, NetEase currently has a consensus rating of “Moderate Buy” and a consensus price target of $157.38.
NetEase Price Performance
Shares of NASDAQ:NTES opened at $121.81 on Wednesday. The business’s fifty day moving average price is $117.56 and its two-hundred day moving average price is $124.19. NetEase, Inc. has a fifty-two week low of $106.06 and a fifty-two week high of $159.55. The stock has a market capitalization of $77.77 billion, a price-to-earnings ratio of 16.18, a price-to-earnings-growth ratio of 1.63 and a beta of 0.72.
NetEase Cuts Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Friday, June 5th will be given a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Friday, June 5th. NetEase’s dividend payout ratio is 38.11%.
NetEase Company 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.
Featured Articles
- Five stocks we like better than NetEase
- Could a Tesla-SpaceX Merger Be Closer Than Investors Think?
- Gravity Check: Houston, SpaceX Has a Valuation Problem
- Strategy’s Bitcoin Rally Has a Hidden Engine
- Okta’s AI Moment May Be Bigger Than Investors Realize
Receive News & Ratings for NetEase Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NetEase and related companies with MarketBeat.com's FREE daily email newsletter.
