Myriad Asset Management Advisors LLC Acquires Shares of 10,696 NetEase, Inc. $NTES

Myriad Asset Management Advisors LLC acquired a new stake in NetEase, Inc. (NASDAQ:NTES) during the fourth quarter, HoldingsChannel reports. The firm acquired 10,696 shares of the technology company’s stock, valued at approximately $1,472,000.

A number of other institutional investors also recently bought and sold shares of the business. Deutsche Bank AG increased its stake in NetEase by 111.1% in the fourth quarter. Deutsche Bank AG now owns 71,468 shares of the technology company’s stock valued at $9,835,000 after purchasing an additional 37,610 shares during the period. Fox Run Management L.L.C. acquired a new position in NetEase in the fourth quarter valued at $981,000. O Shaughnessy Asset Management LLC increased its stake in NetEase by 16.7% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 49,617 shares of the technology company’s stock valued at $6,828,000 after purchasing an additional 7,105 shares during the period. Syon Capital LLC increased its stake in NetEase by 49.5% in the fourth quarter. Syon Capital LLC now owns 2,091 shares of the technology company’s stock valued at $288,000 after purchasing an additional 692 shares during the period. Finally, Capital International Inc. CA increased its stake in NetEase by 1.9% in the fourth quarter. Capital International Inc. CA now owns 193,997 shares of the technology company’s stock valued at $26,698,000 after purchasing an additional 3,687 shares during the period. 11.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NTES has been the topic of several analyst reports. Wall Street Zen raised shares of NetEase from a “hold” rating to a “buy” rating in a report on Saturday, May 23rd. Benchmark reaffirmed a “buy” rating on shares of NetEase in a report on Friday, May 22nd. Nomura lowered their target price on shares of NetEase from $160.00 to $155.00 and set a “buy” rating on the stock in a report on Friday, February 13th. Zacks Research raised shares of NetEase from a “hold” rating to a “strong-buy” rating in a report on Monday. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $158.00 target price on shares of NetEase in a report on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, NetEase currently has an average rating of “Moderate Buy” and an average price target of $157.38.

NetEase Trading Up 4.0%

NTES stock opened at $125.52 on Thursday. The company has a market cap of $80.13 billion, a P/E ratio of 16.67, a P/E/G ratio of 1.56 and a beta of 0.72. NetEase, Inc. has a 52 week low of $106.06 and a 52 week high of $159.55. The company’s 50-day moving average price is $116.58 and its 200 day moving average price is $124.55.

NetEase Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Friday, June 5th will be issued a dividend of $0.72 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $2.88 dividend on an annualized basis and a yield of 2.3%. NetEase’s payout ratio is currently 38.11%.

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.