Capital Wealth Planning LLC Invests $11.67 Million in NetEase, Inc. $NTES

Capital Wealth Planning LLC bought a new position in shares of NetEase, Inc. (NASDAQ:NTES) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 76,751 shares of the technology company’s stock, valued at approximately $11,665,000.

Other large investors have also added to or reduced their stakes in the company. Vise Technologies Inc. lifted its holdings in NetEase by 1.9% during the 3rd quarter. Vise Technologies Inc. now owns 7,197 shares of the technology company’s stock valued at $1,094,000 after purchasing an additional 134 shares during the last quarter. Sei Investments Co. increased its holdings in shares of NetEase by 13.8% in the third quarter. Sei Investments Co. now owns 28,343 shares of the technology company’s stock valued at $4,308,000 after purchasing an additional 3,441 shares during the last quarter. Mackenzie Financial Corp raised its position in shares of NetEase by 38.2% in the third quarter. Mackenzie Financial Corp now owns 188,782 shares of the technology company’s stock valued at $28,693,000 after purchasing an additional 52,207 shares during the period. Quadrant Capital Group LLC raised its position in shares of NetEase by 16.9% in the third quarter. Quadrant Capital Group LLC now owns 2,664 shares of the technology company’s stock valued at $405,000 after purchasing an additional 386 shares during the period. Finally, Van ECK Associates Corp lifted its stake in shares of NetEase by 18.6% during the 3rd quarter. Van ECK Associates Corp now owns 681,808 shares of the technology company’s stock worth $103,628,000 after buying an additional 107,004 shares during the last quarter. Institutional investors own 11.07% of the company’s stock.

NetEase Stock Performance

NASDAQ:NTES opened at $117.51 on Friday. The company has a market cap of $74.45 billion, a price-to-earnings ratio of 16.01, a PEG ratio of 1.48 and a beta of 0.74. NetEase, Inc. has a fifty-two week low of $88.54 and a fifty-two week high of $159.55. The stock has a fifty day moving average price of $126.28 and a 200-day moving average price of $137.15.

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 given 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 yield of 3.9%. The ex-dividend date of this dividend is Monday, March 16th. NetEase’s dividend payout ratio (DPR) is currently 30.93%.

Analysts Set New Price Targets

Several analysts recently commented on NTES shares. Morgan Stanley reaffirmed an “overweight” rating and set a $154.00 target price on shares of NetEase in a report on Monday, March 2nd. Citigroup restated a “buy” rating on shares of NetEase in a research report on Wednesday, February 11th. Weiss Ratings restated a “hold (c)” rating on shares of NetEase in a report on Monday, December 22nd. Barclays decreased 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. Finally, Sanford C. Bernstein set a $155.00 target price on NetEase in a research note on Friday, November 21st. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $153.89.

About NetEase

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.