Van ECK Associates Corp Has $103.63 Million Stock Holdings in NetEase, Inc. $NTES

Key Points

• Van ECK Associates Corp raised its stake in NetEase by 18.6% in Q3 to 681,808 shares, worth about $103.63 million (roughly 0.11% of the company).
• NetEase increased its quarterly dividend to $1.16 (from $0.57), implying a $4.64 annualized payout and a ~3.9% yield; the record date is March 16 with payment on March 27.
• Brokerage sentiment is mixed but generally positive: the consensus is a "Moderate Buy" with an average price target of $153.89, though several firms have trimmed targets or ratings recently.

Van ECK Associates Corp increased its position in shares of NetEase, Inc. (NASDAQ:NTES - Free Report) by 18.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 681,808 shares of the technology company's stock after buying an additional 107,004 shares during the quarter. Van ECK Associates Corp owned about 0.11% of NetEase worth $103,628,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in NTES. Bank of Montreal Can raised its holdings in NetEase by 1,636.4% in the 3rd quarter. Bank of Montreal Can now owns 662,557 shares of the technology company's stock worth $100,702,000 after purchasing an additional 624,399 shares in the last quarter. Man Group plc grew its position in NetEase by 33.3% during the 2nd quarter. Man Group plc now owns 983,156 shares of the technology company's stock valued at $132,313,000 after purchasing an additional 245,872 shares during the last quarter. Causeway Capital Management LLC raised its holdings in NetEase by 44.6% in the 3rd quarter. Causeway Capital Management LLC now owns 638,315 shares of the technology company's stock worth $97,017,000 after acquiring an additional 196,821 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its stake in shares of NetEase by 103.0% in the second quarter. BI Asset Management Fondsmaeglerselskab A S now owns 332,195 shares of the technology company's stock worth $44,707,000 after purchasing an additional 168,573 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in shares of NetEase by 351.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 187,415 shares of the technology company's stock valued at $25,221,000 after acquiring an additional 145,906 shares during the last quarter. Institutional investors own 11.07% of the company's stock.

NetEase Price Performance

Shares of NASDAQ NTES opened at $117.75 on Wednesday. NetEase, Inc. has a 1-year low of $88.54 and a 1-year high of $159.55. The business has a fifty day moving average price of $127.76 and a 200 day moving average price of $137.58. The stock has a market capitalization of $74.61 billion, a P/E ratio of 16.04, a price-to-earnings-growth ratio of 1.50 and a beta of 0.74.

NetEase Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Monday, March 16th will be paid a dividend of $1.16 per share. This is a boost from NetEase's previous quarterly dividend of $0.57. The ex-dividend date is Monday, March 16th. This represents a $4.64 annualized dividend and a dividend yield of 3.9%. NetEase's dividend payout ratio (DPR) is presently 30.93%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on NTES. Wall Street Zen cut shares of NetEase from a "buy" rating to a "hold" rating in a research note on Sunday, November 23rd. Barclays lowered their price target on NetEase from $135.00 to $132.00 and set an "equal weight" rating on the stock in a report on Thursday, February 12th. Nomura reduced their target price on NetEase from $160.00 to $155.00 and set a "buy" rating on the stock in a report on Friday, February 13th. Benchmark reaffirmed a "buy" rating on shares of NetEase in a research note on Thursday, February 12th. Finally, Sanford C. Bernstein set a $155.00 target price on NetEase in a report on Friday, November 21st. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $153.89.

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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