53 House LLP Buys New Shares in 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 acquired a new stake in NetEase, Inc. (NASDAQ:NTES - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 31,546 shares of the technology company's stock, valued at approximately $3,247,000. NetEase comprises 2.9% of 53 House LLP's investment portfolio, making the stock its 8th largest position.

Several other institutional investors have also bought and sold shares of the company. Lazard Asset Management LLC lifted its stake in NetEase by 2.0% in the fourth quarter. Lazard Asset Management LLC now owns 3,599,794 shares of the technology company's stock valued at $321,137,000 after purchasing an additional 69,789 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in NetEase by 7,698.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,817,021 shares of the technology company's stock valued at $289,928,000 after purchasing an additional 2,780,897 shares during the last quarter. Dodge & Cox lifted its stake in NetEase by 5.8% in the first quarter. Dodge & Cox now owns 2,803,664 shares of the technology company's stock valued at $288,553,000 after purchasing an additional 153,788 shares during the last quarter. Wellington Management Group LLP lifted its stake in NetEase by 111.7% in the first quarter. Wellington Management Group LLP now owns 1,988,541 shares of the technology company's stock valued at $204,661,000 after purchasing an additional 1,049,023 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in NetEase by 54.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,977,835 shares of the technology company's stock valued at $203,560,000 after purchasing an additional 697,192 shares during the last quarter. Hedge funds and other institutional investors own 11.07% of the company's stock.

Analyst Ratings Changes

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

NetEase Trading Down 1.4%

Shares of NetEase stock traded down $1.98 during trading on Wednesday, hitting $135.07. The stock had a trading volume of 651,001 shares, compared to its average volume of 910,420. The firm has a market cap of $85.58 billion, a price-to-earnings ratio of 18.28, a P/E/G ratio of 1.81 and a beta of 0.67. NetEase, Inc. has a 12 month low of $75.85 and a 12 month high of $141.45. The business's 50-day moving average is $132.17 and its 200 day moving average is $116.39.

NetEase Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Thursday, August 28th will be issued a $0.675 dividend. The ex-dividend date of this dividend is Thursday, August 28th. This represents a $2.70 annualized dividend and a dividend yield of 2.0%. NetEase's dividend payout ratio is presently 36.40%.

NetEase Company 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.