WT Asset Management Ltd Makes New $3.65 Million Investment in NetEase, Inc. $NTES

WT Asset Management Ltd acquired a new stake in shares of NetEase, Inc. (NASDAQ:NTES) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 24,014 shares of the technology company’s stock, valued at approximately $3,650,000.

A number of other institutional investors also recently made changes to their positions in NTES. NewSquare Capital LLC raised its stake in shares of NetEase by 137.2% in the 2nd quarter. NewSquare Capital LLC now owns 185 shares of the technology company’s stock valued at $25,000 after purchasing an additional 107 shares in the last quarter. Private Trust Co. NA raised its stake in NetEase by 266.0% during the second quarter. Private Trust Co. NA now owns 194 shares of the technology company’s stock valued at $26,000 after buying an additional 141 shares in the last quarter. Cornerstone Planning Group LLC bought a new position in NetEase during the 3rd quarter worth approximately $33,000. Spire Wealth Management grew its position in shares of NetEase by 159.6% in the 2nd quarter. Spire Wealth Management now owns 257 shares of the technology company’s stock worth $35,000 after acquiring an additional 158 shares in the last quarter. Finally, Steigerwald Gordon & Koch Inc. acquired a new position in shares of NetEase in the 3rd quarter worth approximately $38,000. 11.07% of the stock is owned by institutional investors and hedge funds.

NetEase Stock Down 1.9%

Shares of NTES traded down $2.23 during mid-day trading on Friday, reaching $116.93. The company’s stock had a trading volume of 167,167 shares, compared to its average volume of 774,609. The company has a market cap of $74.08 billion, a price-to-earnings ratio of 15.93, a price-to-earnings-growth ratio of 1.51 and a beta of 0.71. The business has a fifty day moving average of $133.26 and a 200 day moving average of $138.76. NetEase, Inc. has a 1 year low of $88.54 and a 1 year high of $159.55.

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 issued a dividend of $1.16 per share. This is a positive change from NetEase’s previous quarterly dividend of $0.57. This represents a $4.64 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Monday, March 16th. NetEase’s dividend payout ratio is 63.22%.

Analyst Upgrades and Downgrades

NTES has been the topic of several research reports. Nomura dropped their price target on NetEase from $160.00 to $155.00 and set a “buy” rating on the stock in a research report on Friday, February 13th. Barclays dropped their target price on NetEase from $135.00 to $132.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 12th. Sanford C. Bernstein set a $155.00 price target on NetEase in a report on Friday, November 21st. Benchmark reaffirmed a “buy” rating on shares of NetEase in a report on Thursday, February 12th. Finally, Citigroup reaffirmed a “buy” rating on shares of NetEase in a research note on Wednesday, February 11th. 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 stock currently has a consensus rating of “Moderate Buy” and an average price target of $155.67.

NetEase Profile

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.