Ninety One North America Inc. Boosts Stock Position in NetEase, Inc. $NTES

by · The Cerbat Gem

Ninety One North America Inc. boosted its stake in shares of NetEase, Inc. (NASDAQ:NTES – Free Report) by 3.4% in the fourth quarter, Holdings Channel reports. The fund owned 500,241 shares of the technology company’s stock after purchasing an additional 16,496 shares during the period. NetEase accounts for about 2.8% of Ninety One North America Inc.’s portfolio, making the stock its 11th biggest position. Ninety One North America Inc.’s holdings in NetEase were worth $68,843,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Cornerstone Planning Group LLC acquired a new position in shares of NetEase in the third quarter valued at approximately $33,000. Steigerwald Gordon & Koch Inc. acquired a new stake in shares of NetEase during the third quarter worth $38,000. First Horizon Corp acquired a new stake in shares of NetEase during the third quarter worth $45,000. Mather Group LLC. purchased a new position in NetEase in the 3rd quarter valued at $46,000. Finally, Spire Wealth Management grew its position in NetEase by 29.2% in the 3rd quarter. Spire Wealth Management now owns 332 shares of the technology company’s stock valued at $50,000 after buying an additional 75 shares during the last quarter. 11.07% of the stock is currently owned by hedge funds and other institutional investors.

NetEase Trading Down 0.2%

NTES stock opened at $118.20 on Friday. The firm has a 50 day moving average of $115.87 and a 200-day moving average of $131.66. NetEase, Inc. has a 12-month low of $98.36 and a 12-month high of $159.55. The company has a market cap of $74.89 billion, a price-to-earnings ratio of 16.10, a PEG ratio of 1.53 and a beta of 0.76.

NetEase Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Monday, March 16th were paid a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend was Monday, March 16th. This is an increase from NetEase’s previous quarterly dividend of $0.57. NetEase’s dividend payout ratio (DPR) is 63.08%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on NTES shares. Benchmark restated a “buy” rating on shares of NetEase in a research report on Thursday, February 12th. Nomura lowered their target price on shares of NetEase from $160.00 to $155.00 and set a “buy” rating on the stock in a report on Friday, February 13th. Barclays dropped their price target on shares of NetEase from $135.00 to $132.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 12th. Citigroup restated a “buy” rating on shares of NetEase in a research report on Wednesday, February 11th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of NetEase in a research report on Monday, December 22nd. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, NetEase presently has an average rating of “Moderate Buy” and a consensus target price of $153.89.

View Our Latest Research Report on NTES

About NetEase

(Free Report)

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.

See Also

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