Ovata Capital Management Ltd Raises Holdings in NetEase, Inc. $NTES

Ovata Capital Management Ltd boosted its holdings in shares of NetEase, Inc. (NASDAQ:NTES) by 228.6% in the 3rd quarter, Holdings Channel.com reports. The fund owned 25,300 shares of the technology company’s stock after buying an additional 17,600 shares during the quarter. NetEase makes up about 0.8% of Ovata Capital Management Ltd’s holdings, making the stock its 20th biggest holding. Ovata Capital Management Ltd’s holdings in NetEase were worth $3,850,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of NetEase by 68,860.6% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,551,117 shares of the technology company’s stock valued at $1,299,684,000 after purchasing an additional 8,538,717 shares during the last quarter. Ninety One UK Ltd increased its position in shares of NetEase by 0.5% during the 3rd quarter. Ninety One UK Ltd now owns 6,296,150 shares of the technology company’s stock worth $956,952,000 after purchasing an additional 28,381 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in NetEase by 2.1% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,977,146 shares of the technology company’s stock valued at $266,084,000 after buying an additional 40,871 shares during the period. Fisher Asset Management LLC raised its holdings in NetEase by 4.7% in the 3rd quarter. Fisher Asset Management LLC now owns 1,133,052 shares of the technology company’s stock valued at $172,213,000 after buying an additional 50,861 shares during the period. Finally, Man Group plc lifted its position in NetEase by 7.3% in the third quarter. Man Group plc now owns 1,055,122 shares of the technology company’s stock valued at $160,368,000 after buying an additional 71,966 shares during the last quarter. Hedge funds and other institutional investors own 11.07% of the company’s stock.

NetEase Price Performance

NASDAQ NTES opened at $118.87 on Wednesday. The company has a market cap of $75.31 billion, a P/E ratio of 16.19, a P/E/G ratio of 1.52 and a beta of 0.74. The stock has a 50-day moving average of $125.23 and a two-hundred day moving average of $136.91. NetEase, Inc. has a 1-year low of $88.54 and a 1-year high of $159.55.

NetEase Increases Dividend

The firm 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 $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 3.9%. This is an increase from NetEase’s previous quarterly dividend of $0.57. The ex-dividend date is Monday, March 16th. NetEase’s dividend payout ratio (DPR) is presently 63.08%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on NTES shares. Sanford C. Bernstein set a $155.00 price target on shares of NetEase in a research report on Friday, November 21st. Weiss Ratings restated a “hold (c)” rating on shares of NetEase in a report on Monday, December 22nd. Barclays lowered their price objective on shares of NetEase from $135.00 to $132.00 and set an “equal weight” rating for the company in a research report on Thursday, February 12th. Benchmark reissued a “buy” rating on shares of NetEase in a research report on Thursday, February 12th. Finally, Nomura decreased their price target on NetEase from $160.00 to $155.00 and set a “buy” rating on the stock in a research note on Friday, February 13th. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, NetEase presently has a consensus rating of “Moderate Buy” and an average target price of $153.89.

NetEase Company 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.