Guinness Asset Management LTD Acquires 7,581 Shares of 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 holdings in shares of NetEase, Inc. (NASDAQ:NTES - Free Report) by 8.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 95,102 shares of the technology company's stock after purchasing 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.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kayne Anderson Rudnick Investment Management LLC bought a new stake in NetEase during the 1st quarter valued at approximately $26,000. Mather Group LLC. raised its stake in NetEase by 1,415.0% during the 1st quarter. Mather Group LLC. now owns 303 shares of the technology company's stock valued at $31,000 after purchasing an additional 283 shares during the period. Strs Ohio bought a new stake in NetEase during the 1st quarter valued at approximately $63,000. TD Private Client Wealth LLC bought a new stake in NetEase during the 1st quarter valued at approximately $65,000. Finally, Farther Finance Advisors LLC raised its stake in NetEase by 191.7% during the 1st quarter. Farther Finance Advisors LLC now owns 986 shares of the technology company's stock valued at $105,000 after purchasing an additional 648 shares during the period. Institutional investors own 11.07% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on NTES shares. Arete Research raised NetEase to a "strong-buy" rating in a research note on Wednesday, September 3rd. Arete upgraded NetEase from a "sell" rating to a "buy" rating and set a $150.00 price target for the company in a report on Wednesday, September 3rd. JPMorgan Chase & Co. cut NetEase from an "overweight" rating to a "neutral" rating and raised their price target for the company from $135.00 to $140.00 in a report on Monday, July 28th. Barclays set a $120.00 price target on NetEase and gave the company an "equal weight" rating in a report on Monday, August 18th. Finally, Wall Street Zen raised shares of NetEase from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 30th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $128.78.

NetEase Stock Performance

Shares of NetEase stock opened at $150.10 on Friday. The stock has a market cap of $95.10 billion, a price-to-earnings ratio of 20.31, a price-to-earnings-growth ratio of 1.95 and a beta of 0.67. The stock has a 50 day moving average price of $133.81 and a 200-day moving average price of $119.20. NetEase, Inc. has a one year low of $75.88 and a one year high of $150.14.

NetEase Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 11th. Stockholders of record on Thursday, August 28th were issued a $0.675 dividend. The ex-dividend date was Thursday, August 28th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 1.8%. NetEase's payout ratio is 30.72%.

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.

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