Bayforest Capital Ltd Has $554,000 Position in NetEase, Inc. (NASDAQ:NTES)

Key Points

• Bayforest Capital Ltd significantly increased its stake in NetEase, Inc. by 94.7% during the first quarter, owning 5,387 shares worth approximately $554,000.
• The company's recent quarterly dividend was $0.675 per share, translating to an annualized yield of 2.07% and a payout ratio of 38.71%.
• Wall Street analysts have generally rated NetEase with a consensus of "Moderate Buy," with an average target price of $120.00, indicating positive growth expectations.

Bayforest Capital Ltd increased its holdings in NetEase, Inc. (NASDAQ:NTES - Free Report) by 94.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,387 shares of the technology company's stock after purchasing an additional 2,620 shares during the period. Bayforest Capital Ltd's holdings in NetEase were worth $554,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in NTES. Capital World Investors grew its stake in NetEase by 40.6% during the fourth quarter. Capital World Investors now owns 3,725,046 shares of the technology company's stock worth $332,311,000 after buying an additional 1,074,818 shares during the last quarter. Lazard Asset Management LLC grew its stake in NetEase by 2.0% during the fourth quarter. Lazard Asset Management LLC now owns 3,599,794 shares of the technology company's stock worth $321,137,000 after buying an additional 69,789 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of NetEase by 7,698.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,817,021 shares of the technology company's stock valued at $289,928,000 after purchasing an additional 2,780,897 shares in the last quarter. Dodge & Cox increased its holdings in shares of NetEase by 0.6% in the fourth quarter. Dodge & Cox now owns 2,649,876 shares of the technology company's stock valued at $236,395,000 after purchasing an additional 15,900 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of NetEase by 88.0% in the fourth quarter. Invesco Ltd. now owns 2,365,464 shares of the technology company's stock valued at $211,023,000 after purchasing an additional 1,107,363 shares in the last quarter. Institutional investors and hedge funds own 11.07% of the company's stock.

NetEase Stock Down 2.3%

Shares of NASDAQ:NTES traded down $2.99 during midday trading on Friday, reaching $127.31. 660,035 shares of the company were exchanged, compared to its average volume of 601,411. NetEase, Inc. has a fifty-two week low of $75.85 and a fifty-two week high of $141.45. The stock has a fifty day simple moving average of $130.80 and a two-hundred day simple moving average of $112.84. The firm has a market cap of $80.66 billion, a PE ratio of 18.32, a P/E/G ratio of 4.52 and a beta of 0.68.

NetEase Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were issued a dividend of $0.675 per share. This represents a $2.70 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Friday, May 30th. NetEase's dividend payout ratio (DPR) is presently 38.71%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on NTES shares. Deutsche Bank Aktiengesellschaft started coverage on shares of NetEase in a report on Monday, May 12th. They issued a "buy" rating and a $130.00 price target for the company. JPMorgan Chase & Co. lowered shares of 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. Wall Street Zen raised shares of NetEase from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 22nd. Finally, Barclays raised their price objective on shares of NetEase from $104.00 to $118.00 and gave the company an "equal weight" rating in a research note on Friday, May 16th. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $120.00.

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.