Assetmark Inc. Increases Stock Holdings in NetEase, Inc. $NTES

Assetmark Inc. raised its stake in NetEase, Inc. (NASDAQ:NTES) by 14.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 48,085 shares of the technology company’s stock after purchasing an additional 6,229 shares during the period. Assetmark Inc.’s holdings in NetEase were worth $6,471,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in NTES. Wellington Management Group LLP increased 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 purchasing an additional 1,049,023 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of NetEase by 54.4% in the 1st 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 purchasing an additional 697,192 shares during the period. New York State Common Retirement Fund acquired a new stake in shares of NetEase in the 1st quarter valued at about $28,765,000. Envestnet Asset Management Inc. boosted its position in shares of NetEase by 255.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 264,463 shares of the technology company’s stock valued at $35,591,000 after purchasing an additional 189,963 shares during the period. Finally, Ninety One North America Inc. boosted its position in shares of NetEase by 52.5% in the 2nd quarter. Ninety One North America Inc. now owns 483,745 shares of the technology company’s stock valued at $65,102,000 after purchasing an additional 166,432 shares during the period. 11.07% of the stock is currently owned by hedge funds and other institutional investors.

NetEase Price Performance

NTES opened at $140.10 on Monday. The business has a 50 day simple moving average of $146.66 and a 200-day simple moving average of $132.24. The stock has a market capitalization of $88.77 billion, a P/E ratio of 18.96, a P/E/G ratio of 1.91 and a beta of 0.67. NetEase, Inc. has a 12 month low of $75.88 and a 12 month high of $159.55.

NetEase Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 11th. Stockholders of record on Thursday, August 28th were issued a $0.675 dividend. This represents a $2.70 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Thursday, August 28th. NetEase’s dividend payout ratio (DPR) is currently 30.72%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Weiss Ratings reissued a “hold (c)” rating on shares of NetEase in a research report on Wednesday, October 8th. Morgan Stanley reissued an “overweight” rating and issued a $170.00 target price on shares of NetEase in a research report on Wednesday, October 8th. Arete Research raised NetEase to a “strong-buy” rating in a research report on Wednesday, September 3rd. Arete raised NetEase from a “sell” rating to a “buy” rating and set a $150.00 price objective for the company in a research report on Wednesday, September 3rd. Finally, Wall Street Zen raised NetEase from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 3rd. One 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 stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $142.30.

NetEase 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.