NetEase, Inc. $NTES Shares Bought by Ovata Capital Management Ltd

Key Points

• Ovata Capital Management boosted its NetEase stake by 228.6% in Q3 to 25,300 shares worth $3.85 million, representing about 0.8% of Ovata’s portfolio and the stock's 20th-largest holding.
• NetEase increased its quarterly dividend to $1.16 (from $0.57), an annualized $4.64 yielding 3.9%; the ex-dividend date is March 16 and the payment date is March 27.
• Analysts have an average rating of "Moderate Buy" with a mean price target of $153.89; NTES trades around $118.87 with a 52‑week range of $88.54–$159.55 and a market cap of about $75.3 billion.

Ovata Capital Management Ltd boosted its position in shares of NetEase, Inc. (NASDAQ:NTES - Free Report) by 228.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,300 shares of the technology company's stock after buying an additional 17,600 shares during the period. NetEase accounts for about 0.8% of Ovata Capital Management Ltd's portfolio, making the stock its 20th largest holding. Ovata Capital Management Ltd's holdings in NetEase were worth $3,850,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Sanford C. Bernstein set a $155.00 target price on shares of NetEase in a report on Friday, November 21st. Morgan Stanley reissued an "overweight" rating and issued a $154.00 price target on shares of NetEase in a research note on Monday, March 2nd. Citigroup reaffirmed a "buy" rating on shares of NetEase in a research note on Wednesday, February 11th. Wall Street Zen downgraded shares of NetEase from a "buy" rating to a "hold" rating in a report on Sunday, November 23rd. Finally, Nomura decreased their target price on shares of NetEase from $160.00 to $155.00 and set a "buy" rating on the stock in a research note on Friday, February 13th. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $153.89.

NetEase Stock Down 0.6%

Shares of NTES opened at $118.87 on Wednesday. NetEase, Inc. has a 52-week low of $88.54 and a 52-week high of $159.55. The stock has a fifty day simple moving average of $125.23 and a two-hundred day simple moving average of $136.91. The company has a market capitalization of $75.31 billion, a PE ratio of 16.19, a price-to-earnings-growth ratio of 1.52 and a beta of 0.74.

NetEase Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Monday, March 16th will be issued a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 3.9%. The ex-dividend date is Monday, March 16th. This is a positive change from NetEase's previous quarterly dividend of $0.57. NetEase's dividend payout ratio (DPR) is presently 63.08%.

NetEase Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.