NetEase, Inc. $NTES Shares Bought by Ninety One North America Inc.

Key Points

• Ninety One North America Inc. increased its NetEase stake by 3.4% in Q4 to 500,241 shares, making NetEase its 11th largest holding and representing about 2.8% of the fund’s portfolio; the position is worth roughly $68.84 million (about 0.08% of NetEase).
• NetEase raised its dividend to $1.16 per quarter (up from $0.57), implying a $4.64 annualized payout and a 3.9% yield with a payout ratio of roughly 63.1%.
• Analysts maintain a consensus "Moderate Buy" with an average target of $153.89, while the stock trades near $118.20 with a market cap of about $74.9 billion and a P/E of 16.1.

Ninety One North America Inc. grew its holdings in shares of NetEase, Inc. (NASDAQ:NTES - Free Report) by 3.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 500,241 shares of the technology company's stock after buying an additional 16,496 shares during the period. NetEase accounts for about 2.8% of Ninety One North America Inc.'s holdings, making the stock its 11th largest holding. Ninety One North America Inc. owned about 0.08% of NetEase worth $68,843,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cornerstone Planning Group LLC purchased a new position in shares of NetEase in the 3rd quarter valued at about $33,000. Steigerwald Gordon & Koch Inc. purchased a new stake in NetEase during the third quarter worth approximately $38,000. First Horizon Corp acquired a new position in NetEase in the third quarter valued at approximately $45,000. Mather Group LLC. acquired a new position in NetEase in the third quarter valued at approximately $46,000. Finally, Spire Wealth Management increased its stake in NetEase by 29.2% in the third quarter. Spire Wealth Management now owns 332 shares of the technology company's stock valued at $50,000 after purchasing an additional 75 shares during the last quarter. 11.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NTES has been the topic of a number of research analyst reports. Weiss Ratings reissued a "hold (c)" rating on shares of NetEase in a report on Monday, December 22nd. Barclays dropped their target price on shares of NetEase from $135.00 to $132.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 12th. Nomura reduced their price target on shares of NetEase from $160.00 to $155.00 and set a "buy" rating for the company in a research report on Friday, February 13th. Benchmark restated a "buy" rating on shares of NetEase in a research note on Thursday, February 12th. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $154.00 price objective on shares of NetEase in a report on Monday, March 2nd. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $153.89.

NetEase Stock Performance

Shares of NetEase stock opened at $118.20 on Friday. NetEase, Inc. has a 1 year low of $98.36 and a 1 year high of $159.55. The company has a market capitalization of $74.89 billion, a P/E ratio of 16.10, a PEG ratio of 1.53 and a beta of 0.76. The company's fifty day moving average is $115.87 and its two-hundred day moving average is $131.66.

NetEase Increases Dividend

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

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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