FengHe Fund Management Pte. Ltd. Makes New $1.71 Million Investment in NetEase, Inc. $NTES

Key Points

• FengHe Fund Management opened a new position in NetEase (NASDAQ:NTES) in Q4, purchasing 12,400 shares valued at about $1.71 million according to its 13F filing.
• NetEase raised its quarterly dividend to $1.16 (annualized $4.64), a yield of ~4.2%, up from the prior quarterly payout of $0.57.
• Analysts hold a consensus of "Moderate Buy" with a consensus price target of $153.89 (eight Buy ratings, three Hold ratings).

FengHe Fund Management Pte. Ltd. purchased a new position in NetEase, Inc. (NASDAQ:NTES - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 12,400 shares of the technology company's stock, valued at approximately $1,706,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cornerstone Planning Group LLC bought a new position in NetEase in the 3rd quarter worth approximately $33,000. Steigerwald Gordon & Koch Inc. purchased a new stake in shares of NetEase during the 3rd quarter worth approximately $38,000. First Horizon Corp purchased a new stake in shares of NetEase during the 3rd quarter worth approximately $45,000. Mather Group LLC. purchased a new stake in shares of NetEase during the 3rd quarter worth approximately $46,000. Finally, Spire Wealth Management raised its holdings in shares of NetEase by 29.2% during the 3rd quarter. Spire Wealth Management now owns 332 shares of the technology company's stock worth $50,000 after acquiring an additional 75 shares in the last quarter. 11.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on NTES. Morgan Stanley reaffirmed an "overweight" rating and set a $154.00 price objective on shares of NetEase in a report on Monday, March 2nd. Nomura decreased their price objective on NetEase from $160.00 to $155.00 and set a "buy" rating on the stock in a report on Friday, February 13th. Benchmark reaffirmed a "buy" rating on shares of NetEase in a report on Thursday, February 12th. Barclays decreased their price objective on NetEase from $135.00 to $132.00 and set an "equal weight" rating on the stock in a report on Thursday, February 12th. Finally, Citigroup reaffirmed a "buy" rating on shares of NetEase in a report on Wednesday, February 11th. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, NetEase currently has a consensus rating of "Moderate Buy" and a consensus price target of $153.89.

NetEase Stock Performance

NASDAQ:NTES opened at $111.36 on Tuesday. The stock's fifty day moving average is $114.93 and its 200 day moving average is $129.75. NetEase, Inc. has a fifty-two week low of $103.22 and a fifty-two week high of $159.55. The firm has a market capitalization of $70.56 billion, a PE ratio of 15.17, a PEG ratio of 1.43 and a beta of 0.76.

NetEase Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Monday, March 16th were issued a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 4.2%. The ex-dividend date was Monday, March 16th. This is a boost from NetEase's previous quarterly dividend of $0.57. NetEase's payout ratio is currently 63.08%.

NetEase Profile

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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