WT Asset Management Ltd Invests $2.62 Million in NetEase, Inc. (NASDAQ:NTES)

WT Asset Management Ltd acquired a new stake in shares of NetEase, Inc. (NASDAQ:NTES) in the fourth quarter, HoldingsChannel reports. The fund acquired 29,413 shares of the technology company’s stock, valued at approximately $2,624,000. NetEase makes up about 0.3% of WT Asset Management Ltd’s investment portfolio, making the stock its 27th biggest holding.

Several other institutional investors and hedge funds have also recently bought and sold shares of NTES. UMB Bank n.a. boosted its stake in NetEase by 33.3% in the fourth quarter. UMB Bank n.a. now owns 444 shares of the technology company’s stock valued at $40,000 after acquiring an additional 111 shares during the period. Brighton Jones LLC increased its holdings in shares of NetEase by 1.1% during the fourth quarter. Brighton Jones LLC now owns 10,297 shares of the technology company’s stock valued at $919,000 after purchasing an additional 117 shares during the period. State Street Corp raised its stake in shares of NetEase by 0.3% during the third quarter. State Street Corp now owns 56,729 shares of the technology company’s stock valued at $5,305,000 after purchasing an additional 156 shares in the last quarter. Euro Pacific Asset Management LLC lifted its holdings in NetEase by 1.3% in the fourth quarter. Euro Pacific Asset Management LLC now owns 13,137 shares of the technology company’s stock worth $1,172,000 after purchasing an additional 173 shares during the period. Finally, Financial Advocates Investment Management grew its position in NetEase by 5.4% in the 3rd quarter. Financial Advocates Investment Management now owns 4,647 shares of the technology company’s stock valued at $435,000 after buying an additional 237 shares in the last quarter. Institutional investors and hedge funds own 11.07% of the company’s stock.

NetEase Stock Down 2.4 %

NTES opened at $101.21 on Wednesday. The business has a fifty day simple moving average of $94.35 and a 200-day simple moving average of $88.55. The firm has a market cap of $64.99 billion, a PE ratio of 17.10, a P/E/G ratio of 3.44 and a beta of 0.58. NetEase, Inc. has a fifty-two week low of $75.85 and a fifty-two week high of $114.50.

NetEase Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were paid a $0.435 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.74 dividend on an annualized basis and a yield of 1.72%. NetEase’s dividend payout ratio is currently 29.22%.

Analyst Upgrades and Downgrades

NTES has been the topic of a number of recent analyst reports. Benchmark dropped their price target on shares of NetEase from $120.00 to $105.00 and set a “buy” rating on the stock in a research report on Friday, November 15th. Morgan Stanley raised NetEase from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $90.00 to $108.00 in a report on Wednesday, January 8th. Bank of America increased their price target on NetEase from $120.00 to $122.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. Citigroup boosted their price objective on NetEase from $108.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Finally, StockNews.com cut NetEase from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 6th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $108.71.

NetEase Profile

NetEase, Inc engages in online games, music streaming, online intelligent learning services, and internet content services businesses in China and internationally . The company operates through Games and Related Value-Added Services, Youdao, Cloud Music, and Innovative Businesses and Others segments.