Mitsubishi UFJ Trust & Banking Corp Grows Stock Position in NetEase, Inc. $NTES

Key Points

• Mitsubishi UFJ Trust & Banking increased its stake in NetEase by 22.1% in Q4, adding 12,173 shares to hold 67,211 shares valued at about $9.25 million.
• NetEase sharply raised its quarterly dividend from $0.57 to $1.16 (annualized $4.64), implying a yield of about 3.9% and a payout ratio near 63%.
• Analysts remain broadly positive with an average rating of "Moderate Buy" (eight Buys, three Holds) and an average price target of roughly $153.89.

Mitsubishi UFJ Trust & Banking Corp boosted its holdings in NetEase, Inc. (NASDAQ:NTES - Free Report) by 22.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 67,211 shares of the technology company's stock after acquiring an additional 12,173 shares during the period. Mitsubishi UFJ Trust & Banking Corp's holdings in NetEase were worth $9,250,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Concurrent Investment Advisors LLC raised its position in NetEase by 7.5% in the fourth quarter. Concurrent Investment Advisors LLC now owns 2,740 shares of the technology company's stock valued at $377,000 after purchasing an additional 190 shares during the period. Matthews International Capital Management LLC grew its holdings in shares of NetEase by 1.0% during the 4th quarter. Matthews International Capital Management LLC now owns 23,901 shares of the technology company's stock worth $3,289,000 after purchasing an additional 226 shares during the period. OLD National Bancorp IN increased its position in shares of NetEase by 31.1% during the 4th quarter. OLD National Bancorp IN now owns 2,582 shares of the technology company's stock worth $355,000 after purchasing an additional 613 shares during the last quarter. B. Metzler seel. Sohn & Co. AG acquired a new stake in shares of NetEase during the 4th quarter worth about $272,000. Finally, HB Wealth Management LLC raised its holdings in NetEase by 21.0% in the 4th quarter. HB Wealth Management LLC now owns 2,349 shares of the technology company's stock valued at $323,000 after buying an additional 408 shares during the period. 11.07% of the stock is currently owned by hedge funds and other institutional investors.

NetEase Stock Performance

Shares of NTES stock opened at $117.98 on Friday. NetEase, Inc. has a fifty-two week low of $103.22 and a fifty-two week high of $159.55. The company has a 50 day moving average price of $114.62 and a 200 day moving average price of $129.16. The stock has a market capitalization of $74.75 billion, a P/E ratio of 16.07, a price-to-earnings-growth ratio of 1.52 and a beta of 0.72.

NetEase Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Monday, March 16th were paid a $1.16 dividend. The ex-dividend date was Monday, March 16th. This is an increase from NetEase's previous quarterly dividend of $0.57. This represents a $4.64 annualized dividend and a dividend yield of 3.9%. NetEase's payout ratio is 63.08%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on NTES shares. Benchmark reaffirmed a "buy" rating on shares of NetEase in a research note on Thursday, February 12th. Barclays decreased their price objective on shares of NetEase from $135.00 to $132.00 and set an "equal weight" rating on the stock in a report on Thursday, February 12th. Citigroup reaffirmed a "buy" rating on shares of NetEase in a research report on Wednesday, February 11th. Nomura dropped their target price on shares of NetEase from $160.00 to $155.00 and set a "buy" rating for the company in a report on Friday, February 13th. Finally, Morgan Stanley reissued an "overweight" rating and issued a $154.00 target price on shares of NetEase in a research report on Monday, March 2nd. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target 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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