Y Intercept Hong Kong Ltd Has $922,000 Stake in NetEase, Inc. (NASDAQ:NTES)

Key Points

• Y Intercept Hong Kong Ltd reduced its holdings in NetEase, Inc. by 18%, selling 1,960 shares and now owning 8,959 shares worth approximately $922,000.
• NetEase recently announced a quarterly dividend of $0.675 per share, resulting in an annualized yield of approximately 1.99%.
• Analysts have generally positive sentiment towards NetEase, with eight ratings indicating a buy or strong buy, and an average target price of $119.38.

Y Intercept Hong Kong Ltd decreased its holdings in NetEase, Inc. (NASDAQ:NTES - Free Report) by 18.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 8,959 shares of the technology company's stock after selling 1,960 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in NetEase were worth $922,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Hardy Reed LLC grew its position in NetEase by 1.7% in the first quarter. Hardy Reed LLC now owns 8,394 shares of the technology company's stock worth $864,000 after buying an additional 139 shares during the last quarter. Bear Mountain Capital Inc. purchased a new position in NetEase during the 1st quarter worth approximately $194,000. Bridgewater Advisors Inc. purchased a new position in NetEase during the 1st quarter worth approximately $260,000. New York State Common Retirement Fund purchased a new position in NetEase during the 1st quarter worth approximately $28,765,000. Finally, Ballentine Partners LLC grew its position in NetEase by 15.1% during the 1st quarter. Ballentine Partners LLC now owns 3,711 shares of the technology company's stock worth $382,000 after purchasing an additional 488 shares in the last quarter. Institutional investors and hedge funds own 11.07% of the company's stock.

NetEase Price Performance

Shares of NTES stock traded down $0.37 on Tuesday, hitting $131.51. The company's stock had a trading volume of 260,046 shares, compared to its average volume of 1,266,270. NetEase, Inc. has a fifty-two week low of $75.85 and a fifty-two week high of $141.45. The firm's fifty day moving average price is $130.01 and its 200-day moving average price is $112.12. The stock has a market capitalization of $83.32 billion, a price-to-earnings ratio of 18.95, a P/E/G ratio of 4.70 and a beta of 0.69.

NetEase Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were paid a $0.675 dividend. This represents a $2.70 annualized dividend and a dividend yield of 2.05%. The ex-dividend date of this dividend was Friday, May 30th. NetEase's payout ratio is presently 38.71%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on NTES. Barclays lifted their price objective on shares of NetEase from $104.00 to $118.00 and gave the stock an "equal weight" rating in a research report on Friday, May 16th. JPMorgan Chase & Co. cut shares of NetEase from an "overweight" rating to a "neutral" rating and boosted their price target for the company from $135.00 to $140.00 in a report on Monday. Wall Street Zen upgraded shares of NetEase from a "buy" rating to a "strong-buy" rating in a report on Thursday, May 22nd. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of NetEase in a report on Monday, May 12th. They set a "buy" rating and a $130.00 price target on the stock. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $120.00.

About NetEase

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.