Caitong International Asset Management Co. Ltd Has $78,000 Stock Holdings in NetEase, Inc. $NTES

Caitong International Asset Management Co. Ltd lifted its stake in shares of NetEase, Inc. (NASDAQ:NTES) by 19,333.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 583 shares of the technology company’s stock after acquiring an additional 580 shares during the quarter. Caitong International Asset Management Co. Ltd’s holdings in NetEase were worth $78,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. lifted its stake in NetEase by 7,698.2% in the first 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 during the period. Wellington Management Group LLP lifted its stake in NetEase by 111.7% in the first quarter. Wellington Management Group LLP now owns 1,988,541 shares of the technology company’s stock valued at $204,661,000 after buying an additional 1,049,023 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in NetEase by 54.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,977,835 shares of the technology company’s stock valued at $203,560,000 after buying an additional 697,192 shares during the period. New York State Common Retirement Fund acquired a new position in NetEase in the first quarter valued at approximately $28,765,000. Finally, WT Asset Management Ltd lifted its stake in NetEase by 706.5% in the first quarter. WT Asset Management Ltd now owns 237,206 shares of the technology company’s stock valued at $24,413,000 after buying an additional 207,793 shares during the period. 11.07% of the stock is currently owned by institutional investors.

NetEase Stock Down 0.3%

Shares of NASDAQ:NTES opened at $146.71 on Friday. The stock has a market cap of $92.95 billion, a price-to-earnings ratio of 19.85, a PEG ratio of 1.94 and a beta of 0.67. NetEase, Inc. has a 12-month low of $75.88 and a 12-month high of $159.55. The business’s 50 day moving average is $145.41 and its 200 day moving average is $129.87.

NetEase Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 11th. Shareholders of record on Thursday, August 28th were given a $0.675 dividend. The ex-dividend date of this dividend was Thursday, August 28th. This represents a $2.70 annualized dividend and a yield of 1.8%. NetEase’s payout ratio is currently 30.72%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on NTES shares. Arete raised NetEase from a “sell” rating to a “buy” rating and set a $150.00 price target on the stock in a research note on Wednesday, September 3rd. Weiss Ratings restated a “hold (c)” rating on shares of NetEase in a report on Wednesday, October 8th. Zacks Research downgraded NetEase from a “strong-buy” rating to a “hold” rating in a report on Friday, August 15th. The Goldman Sachs Group set a $161.00 price objective on NetEase and gave the company a “buy” rating in a report on Monday, September 15th. Finally, Morgan Stanley restated an “overweight” rating and set a $170.00 price objective on shares of NetEase in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, NetEase currently has an average rating of “Moderate Buy” and a consensus target price of $142.30.

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.