WT Asset Management Ltd Takes $3.65 Million Position in NetEase, Inc. $NTES

WT Asset Management Ltd acquired a new position in shares of NetEase, Inc. (NASDAQ:NTES) in the 3rd quarter, Holdings Channel reports. The fund acquired 24,014 shares of the technology company’s stock, valued at approximately $3,650,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. NewSquare Capital LLC increased its position in shares of NetEase by 137.2% during the second quarter. NewSquare Capital LLC now owns 185 shares of the technology company’s stock valued at $25,000 after purchasing an additional 107 shares during the period. Private Trust Co. NA raised its position in NetEase by 266.0% in the 2nd quarter. Private Trust Co. NA now owns 194 shares of the technology company’s stock valued at $26,000 after purchasing an additional 141 shares during the last quarter. Cornerstone Planning Group LLC acquired a new position in NetEase in the third quarter worth $33,000. Spire Wealth Management grew its holdings in shares of NetEase by 159.6% during the second quarter. Spire Wealth Management now owns 257 shares of the technology company’s stock worth $35,000 after purchasing an additional 158 shares during the last quarter. Finally, Steigerwald Gordon & Koch Inc. acquired a new position in NetEase during the 3rd quarter worth about $38,000. 11.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NTES has been the topic of several research reports. Nomura reduced their price objective on NetEase from $160.00 to $155.00 and set a “buy” rating on the stock in a report on Friday, February 13th. Benchmark reiterated a “buy” rating on shares of NetEase in a research report on Thursday, February 12th. Wall Street Zen cut NetEase from a “buy” rating to a “hold” rating in a research note on Sunday, November 23rd. Sanford C. Bernstein set a $155.00 target price on NetEase in a research report on Friday, November 21st. Finally, Citigroup restated a “buy” rating on shares of NetEase in a report on Wednesday, February 11th. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $155.67.

NetEase Stock Down 1.9%

Shares of NASDAQ:NTES traded down $2.23 during midday trading on Friday, reaching $116.93. 167,167 shares of the company were exchanged, compared to its average volume of 774,609. The stock has a fifty day simple moving average of $133.26 and a two-hundred day simple moving average of $138.76. NetEase, Inc. has a fifty-two week low of $88.54 and a fifty-two week high of $159.55. The firm has a market cap of $74.08 billion, a PE ratio of 15.93, a P/E/G ratio of 1.51 and a beta of 0.71.

NetEase Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Monday, March 16th will be paid a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 4.0%. The ex-dividend date is Monday, March 16th. This is a positive change from NetEase’s previous quarterly dividend of $0.57. NetEase’s dividend payout ratio (DPR) is presently 63.22%.

About NetEase

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.