Taikang Asset Management Hong Kong Co Ltd Purchases 34,000 Shares of NetEase, Inc. $NTES

Key Points

• Taikang Asset Management Hong Kong Co Ltd increased its stake in NetEase, Inc. by 171.7% during the first quarter, owning a total of 53,800 shares valued at approximately $5.54 million.
• NetEase recently declared a quarterly dividend of $0.675 per share, representing an annualized amount of $2.70 and a yield of 2.0%.
• Analysts have a consensus target price for NetEase at $122.71 with five analysts rating it as a "Buy" and three as a "Hold."

Taikang Asset Management Hong Kong Co Ltd increased its position in NetEase, Inc. (NASDAQ:NTES - Free Report) by 171.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 53,800 shares of the technology company's stock after buying an additional 34,000 shares during the quarter. Taikang Asset Management Hong Kong Co Ltd's holdings in NetEase were worth $5,537,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of NetEase by 20.8% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 8,685 shares of the technology company's stock valued at $894,000 after buying an additional 1,495 shares during the period. Sequoia Financial Advisors LLC bought a new stake in NetEase in the first quarter valued at approximately $398,000. Concurrent Investment Advisors LLC boosted its holdings in NetEase by 5.4% in the first quarter. Concurrent Investment Advisors LLC now owns 2,569 shares of the technology company's stock valued at $264,000 after acquiring an additional 132 shares during the last quarter. GAMMA Investing LLC boosted its holdings in NetEase by 10,192.0% in the first quarter. GAMMA Investing LLC now owns 2,573 shares of the technology company's stock valued at $265,000 after acquiring an additional 2,548 shares during the last quarter. Finally, Pine Haven Investment Counsel Inc bought a new stake in NetEase in the first quarter valued at approximately $206,000. Institutional investors and hedge funds own 11.07% of the company's stock.

NetEase Stock Performance

Shares of NetEase stock traded down $1.98 on Wednesday, reaching $135.07. 651,001 shares of the company's stock were exchanged, compared to its average volume of 910,420. The company has a market capitalization of $85.58 billion, a P/E ratio of 18.28, a price-to-earnings-growth ratio of 1.81 and a beta of 0.67. NetEase, Inc. has a 52 week low of $75.85 and a 52 week high of $141.45. The firm's 50-day moving average is $132.30 and its two-hundred day moving average is $116.52.

NetEase Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Thursday, August 28th will be issued a $0.675 dividend. This represents a $2.70 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Thursday, August 28th. NetEase's dividend payout ratio (DPR) is currently 36.40%.

Analyst Upgrades and Downgrades

NTES has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on NetEase in a report on Monday, May 12th. They issued a "buy" rating and a $130.00 target price on the stock. Barclays set a $120.00 target price on NetEase and gave the company an "equal weight" rating in a report on Monday, August 18th. Wall Street Zen cut NetEase from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 16th. Zacks Research cut NetEase from a "strong-buy" rating to a "hold" rating in a report on Friday, August 15th. Finally, JPMorgan Chase & Co. cut NetEase from an "overweight" rating to a "neutral" rating and increased their price target for the stock from $135.00 to $140.00 in a report on Monday, July 28th. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $122.71.

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.