Assetmark Inc. Raises Stock Holdings in NetEase, Inc. $NTES

Key Points

• Assetmark Inc. boosted its stake in NetEase by 169.5% in Q4, buying an additional 82,312 shares to hold 130,869 shares worth about $18.01 million.
• NetEase raised its quarterly dividend to $1.16 (up from $0.57), equal to an annualized $4.64 and a roughly 4.0% yield with a payout ratio of 63.08%.
• Analysts are broadly positive—eight Buys and three Holds—giving a consensus of "Moderate Buy" and an average price target of $153.89; the stock trades around $115.87 with a market cap of about $73.4 billion.

Assetmark Inc. boosted its holdings in NetEase, Inc. (NASDAQ:NTES - Free Report) by 169.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 130,869 shares of the technology company's stock after buying an additional 82,312 shares during the quarter. Assetmark Inc.'s holdings in NetEase were worth $18,010,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Cornerstone Planning Group LLC purchased a new position in NetEase in the 3rd quarter worth about $33,000. Steigerwald Gordon & Koch Inc. bought a new stake in shares of NetEase during the 3rd quarter valued at about $38,000. First Horizon Corp bought a new stake in shares of NetEase during the 3rd quarter valued at about $45,000. Mather Group LLC. bought a new stake in shares of NetEase during the 3rd quarter valued at about $46,000. Finally, Spire Wealth Management grew its stake in shares of NetEase by 29.2% during the 3rd quarter. Spire Wealth Management now owns 332 shares of the technology company's stock valued at $50,000 after purchasing an additional 75 shares during the period. Hedge funds and other institutional investors own 11.07% of the company's stock.

NetEase Trading Up 2.0%

Shares of NASDAQ:NTES opened at $115.87 on Thursday. The stock has a 50 day moving average of $116.00 and a 200 day moving average of $131.99. The company has a market cap of $73.41 billion, a PE ratio of 15.79, a price-to-earnings-growth ratio of 1.46 and a beta of 0.76. NetEase, Inc. has a 12-month low of $96.88 and a 12-month high of $159.55.

NetEase Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Monday, March 16th were paid a dividend of $1.16 per share. This is a boost from NetEase's previous quarterly dividend of $0.57. The ex-dividend date was Monday, March 16th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 4.0%. NetEase's dividend payout ratio is presently 63.08%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on NTES shares. Barclays cut their price target on NetEase from $135.00 to $132.00 and set an "equal weight" rating for the company in a research note on Thursday, February 12th. Benchmark restated a "buy" rating on shares of NetEase in a research note on Thursday, February 12th. Weiss Ratings restated a "hold (c)" rating on shares of NetEase in a research note on Monday, December 22nd. Morgan Stanley restated an "overweight" rating and set a $154.00 price target on shares of NetEase in a research note on Monday, March 2nd. Finally, Nomura cut their price target on NetEase from $160.00 to $155.00 and set a "buy" rating for the company in a research note on Friday, February 13th. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $153.89.

About NetEase

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.

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