Guinness Asset Management LTD Has $9.79 Million Holdings in NetEase, Inc. $NTES

Key Points

• Guinness Asset Management LTD increased its stake in NetEase, Inc. by 8.7%, owning a total of 95,102 shares worth approximately $9.8 million after acquiring an additional 7,581 shares in the first quarter.
• NetEase has received analysts' upgrades, including a "strong-buy" rating from Arete Research with a price target of $150, while other firms have set targets ranging from $120 to $140.
• The company recently announced a quarterly dividend of $0.675 per share, translating to an annualized payout of $2.70 and a dividend yield of 1.8%.

Guinness Asset Management LTD boosted its position in NetEase, Inc. (NASDAQ:NTES - Free Report) by 8.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 95,102 shares of the technology company's stock after buying an additional 7,581 shares during the quarter. Guinness Asset Management LTD's holdings in NetEase were worth $9,787,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sumitomo Mitsui Trust Group Inc. grew its holdings in NetEase by 20.8% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 8,685 shares of the technology company's stock worth $894,000 after buying an additional 1,495 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new stake in shares of NetEase during the 1st quarter valued at $398,000. Concurrent Investment Advisors LLC lifted its position in shares of NetEase by 5.4% during the 1st quarter. Concurrent Investment Advisors LLC now owns 2,569 shares of the technology company's stock valued at $264,000 after acquiring an additional 132 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of NetEase by 10,192.0% in the first quarter. GAMMA Investing LLC now owns 2,573 shares of the technology company's stock valued at $265,000 after purchasing an additional 2,548 shares in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of NetEase in the first quarter valued at $2,554,000. 11.07% of the stock is owned by institutional investors.

NetEase Stock Up 0.8%

Shares of NTES stock traded up $1.25 during trading hours on Wednesday, hitting $158.33. 436,888 shares of the company's stock traded hands, compared to its average volume of 1,174,487. The stock's 50 day simple moving average is $135.10 and its 200 day simple moving average is $120.47. The stock has a market cap of $100.32 billion, a PE ratio of 21.41, a price-to-earnings-growth ratio of 2.07 and a beta of 0.67. NetEase, Inc. has a 12 month low of $75.88 and a 12 month high of $159.55.

NetEase Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 11th. Stockholders of record on Thursday, August 28th were given a dividend of $0.675 per share. The ex-dividend date was Thursday, August 28th. This represents a $2.70 annualized dividend and a dividend yield of 1.7%. NetEase's dividend payout ratio is 30.72%.

Analyst Ratings Changes

Several analysts recently issued reports on NTES shares. Arete Research upgraded NetEase to a "strong-buy" rating in a report on Wednesday, September 3rd. Arete raised NetEase from a "sell" rating to a "buy" rating and set a $150.00 price target on the stock in a research report on Wednesday, September 3rd. Barclays set a $120.00 target price on shares of NetEase and gave the company an "equal weight" rating in a research note on Monday, August 18th. The Goldman Sachs Group set a $161.00 price target on shares of NetEase and gave the stock a "buy" rating in a research note on Monday. Finally, JPMorgan Chase & Co. cut shares of NetEase from an "overweight" rating to a "neutral" rating and raised their price target for the stock from $135.00 to $140.00 in a research note on Monday, July 28th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $132.00.

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.