NetEase, Inc. $NTES Shares Purchased by Everstar Asset Management LLC

Key Points

• Everstar Asset Management LLC increased its stake in NetEase by 135.3%, owning 12,841 shares worth $1.32 million at the end of the last quarter.
• NetEase recently declared a quarterly dividend of $0.675, scheduled for payment on September 11th, which translates to an annualized yield of 2.0%.
• Analysts have been active on NetEase, with upgrades from Arete to a "buy" rating and a target price of $150.00, reflecting positive sentiment in the market.

Everstar Asset Management LLC increased its holdings in NetEase, Inc. (NASDAQ:NTES - Free Report) by 135.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,841 shares of the technology company's stock after buying an additional 7,383 shares during the period. Everstar Asset Management LLC's holdings in NetEase were worth $1,322,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC boosted its holdings in NetEase by 1.1% in the 4th quarter. Brighton Jones LLC now owns 10,297 shares of the technology company's stock valued at $919,000 after purchasing an additional 117 shares during the period. Concurrent Investment Advisors LLC raised its position in NetEase by 5.4% in the 1st quarter. Concurrent Investment Advisors LLC now owns 2,569 shares of the technology company's stock worth $264,000 after purchasing an additional 132 shares during the period. Fifth Third Bancorp raised its position in NetEase by 2.7% in the 1st quarter. Fifth Third Bancorp now owns 5,264 shares of the technology company's stock worth $542,000 after purchasing an additional 138 shares during the period. Hardy Reed LLC grew its holdings in NetEase by 1.7% in the 1st quarter. Hardy Reed LLC now owns 8,394 shares of the technology company's stock worth $864,000 after acquiring an additional 139 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in NetEase by 1.6% in the 1st quarter. Bank of New York Mellon Corp now owns 9,884 shares of the technology company's stock worth $1,017,000 after acquiring an additional 153 shares during the last quarter. 11.07% of the stock is currently owned by institutional investors.

NetEase Trading Up 3.0%

NASDAQ:NTES traded up $4.35 during trading hours on Thursday, hitting $150.10. The company had a trading volume of 730,953 shares, compared to its average volume of 1,186,756. The company has a 50-day moving average of $133.48 and a 200 day moving average of $118.85. NetEase, Inc. has a 1 year low of $75.88 and a 1 year high of $150.14. The company has a market cap of $95.10 billion, a P/E ratio of 20.31, a P/E/G ratio of 1.92 and a beta of 0.67.

NetEase Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Thursday, August 28th will be given a dividend of $0.675 per share. The ex-dividend date of this dividend is 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 currently 30.72%.

Analyst Ratings Changes

NTES has been the topic of a number of analyst reports. JPMorgan Chase & Co. cut shares of NetEase from an "overweight" rating to a "neutral" rating and upped their price target for the stock from $135.00 to $140.00 in a research note on Monday, July 28th. Arete raised shares of NetEase from a "sell" rating to a "buy" rating and set a $150.00 target price on the stock in a report on Wednesday, September 3rd. Arete Research raised shares of NetEase to a "strong-buy" rating in a research note on Wednesday, September 3rd. Zacks Research cut shares of NetEase from a "strong-buy" rating to a "hold" rating in a report on Friday, August 15th. Finally, Barclays set a $120.00 price target on shares of NetEase and gave the stock an "equal weight" rating in a report on Monday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $128.78.

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.