Institute for Wealth Management LLC. Makes New $3.49 Million Investment in NetEase, Inc. $NTES

Institute for Wealth Management LLC. bought a new position in NetEase, Inc. (NASDAQ:NTES) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 25,370 shares of the technology company’s stock, valued at approximately $3,491,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ameritas Advisory Services LLC grew its stake in shares of NetEase by 125.8% during the 3rd quarter. Ameritas Advisory Services LLC now owns 8,285 shares of the technology company’s stock valued at $1,259,000 after buying an additional 4,616 shares during the period. Range Financial Group LLC purchased a new stake in shares of NetEase during the 4th quarter valued at $1,759,000. Ninety One UK Ltd grew its stake 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 valued at $956,952,000 after buying an additional 28,381 shares during the period. Renaissance Group LLC purchased a new stake in shares of NetEase during the 3rd quarter valued at $6,177,000. Finally, American Century Companies Inc. grew its stake in shares of NetEase by 7.3% during the 3rd quarter. American Century Companies Inc. now owns 803,379 shares of the technology company’s stock valued at $122,106,000 after buying an additional 54,929 shares during the period. 11.07% of the stock is owned by hedge funds and other institutional investors.

NetEase Trading Down 0.2%

Shares of NetEase stock opened at $118.20 on Friday. The company has a fifty day moving average price of $115.87 and a 200 day moving average price of $131.52. NetEase, Inc. has a twelve month low of $98.36 and a twelve month high of $159.55. The stock has a market cap of $74.89 billion, a price-to-earnings ratio of 16.10, a price-to-earnings-growth ratio of 1.53 and a beta of 0.76.

NetEase Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Monday, March 16th were given a dividend of $1.16 per share. This is a positive change from NetEase’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend was Monday, March 16th. This represents a $4.64 dividend on an annualized basis and a yield of 3.9%. NetEase’s dividend payout ratio is currently 63.08%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Nomura lowered their price objective on shares of NetEase from $160.00 to $155.00 and set a “buy” rating for the company in a research note on Friday, February 13th. Citigroup reissued a “buy” rating on shares of NetEase in a research note on Wednesday, February 11th. Morgan Stanley reissued an “overweight” rating and set a $154.00 price objective on shares of NetEase in a research note on Monday, March 2nd. Weiss Ratings reissued a “hold (c)” rating on shares of NetEase in a research note on Monday, December 22nd. Finally, Benchmark reaffirmed a “buy” rating on shares of NetEase in a research report on Thursday, February 12th. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus 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.