XY Capital Ltd Makes New Investment in NetEase, Inc. (NASDAQ:NTES)

Key Points

• XY Capital Ltd acquired a new stake in NetEase, Inc. worth approximately $5.47 million, making up about 1.6% of their portfolio.
• Several hedge funds increased their positions in NetEase during the first quarter, indicating growing institutional interest with ownership verging on 11.07% of the company.
• NetEase announced a quarterly dividend of $0.675, representing an annualized yield of 2.1%, with a dividend payout ratio of 38.71%.

XY Capital Ltd bought a new position in NetEase, Inc. (NASDAQ:NTES - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 53,120 shares of the technology company's stock, valued at approximately $5,467,000. NetEase makes up approximately 1.6% of XY Capital Ltd's portfolio, making the stock its 9th largest holding.

Several other institutional investors have also recently made changes to their positions in NTES. Mirae Asset Global Investments Co. Ltd. increased its position in NetEase by 7,698.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,817,021 shares of the technology company's stock valued at $289,928,000 after buying an additional 2,780,897 shares in the last quarter. Invesco Ltd. grew its holdings in shares of NetEase by 88.0% in the fourth quarter. Invesco Ltd. now owns 2,365,464 shares of the technology company's stock worth $211,023,000 after acquiring an additional 1,107,363 shares during the period. Capital World Investors grew its holdings in shares of NetEase by 40.6% in the fourth quarter. Capital World Investors now owns 3,725,046 shares of the technology company's stock worth $332,311,000 after acquiring an additional 1,074,818 shares during the period. Man Group plc grew its holdings in shares of NetEase by 98.0% in the fourth quarter. Man Group plc now owns 708,268 shares of the technology company's stock worth $63,185,000 after acquiring an additional 350,578 shares during the period. Finally, New York State Common Retirement Fund purchased a new position in NetEase during the first quarter valued at $28,765,000. Institutional investors own 11.07% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. JPMorgan Chase & Co. downgraded NetEase from an "overweight" rating to a "neutral" rating and boosted their price objective for the company from $135.00 to $140.00 in a research report on Monday, July 28th. Barclays boosted their target price on NetEase from $104.00 to $118.00 and gave the stock an "equal weight" rating in a research report on Friday, May 16th. Deutsche Bank Aktiengesellschaft initiated coverage on NetEase in a research note on Monday, May 12th. They set a "buy" rating and a $130.00 target price on the stock. Finally, Wall Street Zen upgraded NetEase from a "buy" rating to a "strong-buy" rating in a report on Thursday, May 22nd. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $120.00.

NetEase Trading Up 1.8%

Shares of NTES stock traded up $2.35 during trading hours on Tuesday, hitting $131.23. The company's stock had a trading volume of 519,570 shares, compared to its average volume of 1,230,265. The business has a fifty day moving average of $131.69 and a 200-day moving average of $114.25. The stock has a market cap of $83.15 billion, a price-to-earnings ratio of 18.89, a P/E/G ratio of 4.46 and a beta of 0.67. NetEase, Inc. has a twelve month low of $75.85 and a twelve month high of $141.45.

NetEase Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were paid a dividend of $0.675 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $2.70 annualized dividend and a dividend yield of 2.1%. NetEase's dividend payout ratio is presently 38.71%.

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.