53 House LLP Buys Shares of 31,546 NetEase, Inc. $NTES

Key Points

• 53 House LLP has invested approximately $3.25 million in NetEase, acquiring 31,546 shares, making it the firm's 8th largest holding at 2.9% of its portfolio.
• Multiple institutional investors, including Mirae Asset and Wellington Management, significantly increased their stakes in NetEase, showcasing a growing confidence in the company's prospects.
• NetEase recently announced a quarterly dividend of $0.675 per share, with a dividend yield of 2.0%, indicating a commitment to returning value to shareholders.

53 House LLP bought a new stake in NetEase, Inc. (NASDAQ:NTES - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 31,546 shares of the technology company's stock, valued at approximately $3,247,000. NetEase accounts for approximately 2.9% of 53 House LLP's portfolio, making the stock its 8th biggest holding.

Other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC boosted its stake 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 acquiring an additional 117 shares during the last quarter. Concurrent Investment Advisors LLC raised its position in shares of NetEase by 5.4% in the first quarter. Concurrent Investment Advisors LLC now owns 2,569 shares of the technology company's stock valued at $264,000 after buying an additional 132 shares during the last quarter. Fifth Third Bancorp raised its position in shares of NetEase by 2.7% in the first quarter. Fifth Third Bancorp now owns 5,264 shares of the technology company's stock valued at $542,000 after buying an additional 138 shares during the last quarter. Hardy Reed LLC raised its position in shares of NetEase by 1.7% in the first quarter. Hardy Reed LLC now owns 8,394 shares of the technology company's stock valued at $864,000 after buying an additional 139 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in NetEase by 1.6% in the first quarter. Bank of New York Mellon Corp now owns 9,884 shares of the technology company's stock valued at $1,017,000 after purchasing an additional 153 shares during the period. 11.07% of the stock is currently owned by hedge funds and other institutional investors.

NetEase Price Performance

Shares of NTES stock traded down $1.50 during trading hours on Friday, reaching $136.17. The stock had a trading volume of 230,576 shares, compared to its average volume of 1,212,407. The firm has a market capitalization of $86.27 billion, a PE ratio of 18.43, a price-to-earnings-growth ratio of 1.80 and a beta of 0.67. The firm has a 50-day simple moving average of $132.48 and a 200-day simple moving average of $116.75. NetEase, Inc. has a twelve month low of $75.85 and a twelve month high of $141.45.

NetEase Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Thursday, August 28th will be given a dividend of $0.675 per share. The ex-dividend date is Thursday, August 28th. This represents a $2.70 annualized dividend and a dividend yield of 2.0%. NetEase's dividend payout ratio (DPR) is 36.40%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Wall Street Zen downgraded NetEase from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 16th. Barclays set a $120.00 price objective on shares of NetEase and gave the company an "equal weight" rating in a research note on Monday, August 18th. Deutsche Bank Aktiengesellschaft started coverage on shares of NetEase in a research note on Monday, May 12th. They set a "buy" rating and a $130.00 price objective on the stock. Zacks Research downgraded shares of NetEase from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 15th. Finally, JPMorgan Chase & Co. downgraded shares of NetEase from an "overweight" rating to a "neutral" rating and increased their price objective for the company from $135.00 to $140.00 in a research note on Monday, July 28th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $122.71.

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.