RWC Asset Management LLP Purchases New Stake in NetEase, Inc. (NASDAQ:NTES)

Key Points

• RWC Asset Management LLP has acquired 11,985 shares of NetEase, Inc. (NASDAQ:NTES), valued at approximately $1,233,000, as part of their new position in the company.
• Recent analyst reports have shown strong support for NetEase, with multiple firms upgrading ratings and price targets, leading to a consensus rating of "Buy" and an average target price of $119.38.
• NetEase recently announced a quarterly dividend of $0.675 per share, resulting in a 1.99% yield, with a payout ratio of 38.71%.

RWC Asset Management LLP purchased a new position in shares of NetEase, Inc. (NASDAQ:NTES - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 11,985 shares of the technology company's stock, valued at approximately $1,233,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in NTES. Brighton Jones LLC increased its holdings in NetEase by 1.1% during the 4th quarter. Brighton Jones LLC now owns 10,297 shares of the technology company's stock worth $919,000 after acquiring an additional 117 shares during the period. Raymond James Financial Inc. bought a new position in shares of NetEase during the 4th quarter valued at $2,192,000. HighTower Advisors LLC grew its holdings in shares of NetEase by 112.1% during the 4th quarter. HighTower Advisors LLC now owns 8,330 shares of the technology company's stock valued at $743,000 after purchasing an additional 4,402 shares during the last quarter. LPL Financial LLC boosted its position in NetEase by 34.9% during the 4th quarter. LPL Financial LLC now owns 23,688 shares of the technology company's stock valued at $2,113,000 after buying an additional 6,122 shares during the period. Finally, Ausdal Financial Partners Inc. purchased a new stake in NetEase during the 4th quarter valued at $293,000. 11.07% of the stock is currently owned by hedge funds and other institutional investors.

NetEase Price Performance

Shares of NTES stock traded down $3.60 during trading hours on Monday, reaching $131.88. 546,805 shares of the stock were exchanged, compared to its average volume of 588,291. The firm has a market capitalization of $83.56 billion, a P/E ratio of 18.98, a P/E/G ratio of 4.70 and a beta of 0.69. NetEase, Inc. has a 12-month low of $75.85 and a 12-month high of $141.45. The business's fifty day moving average is $130.01 and its two-hundred day moving average is $112.12.

NetEase Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were given a dividend of $0.675 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $2.70 annualized dividend and a dividend yield of 2.05%. NetEase's payout ratio is currently 38.71%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on NTES. Wall Street Zen upgraded shares of NetEase from a "buy" rating to a "strong-buy" rating in a report on Thursday, May 22nd. Barclays upped their price target on shares of NetEase from $104.00 to $118.00 and gave the stock an "equal weight" rating in a research report on Friday, May 16th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of NetEase in a research report on Monday, May 12th. They set a "buy" rating and a $130.00 target price for the company. Finally, JPMorgan Chase & Co. downgraded shares of NetEase from an "overweight" rating to a "neutral" rating and increased their target price for the company from $135.00 to $140.00 in a research note on Monday. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, NetEase has an average rating of "Moderate Buy" and a consensus target price of $120.00.

About NetEase

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.