Taikang Asset Management Hong Kong Co Ltd Buys 7,000 Shares of NetEase, Inc. $NTES

Taikang Asset Management Hong Kong Co Ltd grew its holdings in NetEase, Inc. (NASDAQ:NTES) by 12.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 62,000 shares of the technology company’s stock after acquiring an additional 7,000 shares during the period. Taikang Asset Management Hong Kong Co Ltd’s holdings in NetEase were worth $8,532,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Smartleaf Asset Management LLC boosted its stake in NetEase by 19.3% in the third quarter. Smartleaf Asset Management LLC now owns 457 shares of the technology company’s stock worth $69,000 after purchasing an additional 74 shares in the last quarter. Main Street Research LLC boosted its stake in NetEase by 2.1% in the third quarter. Main Street Research LLC now owns 4,085 shares of the technology company’s stock worth $621,000 after purchasing an additional 85 shares in the last quarter. Allworth Financial LP boosted its stake in NetEase by 15.2% in the third quarter. Allworth Financial LP now owns 718 shares of the technology company’s stock worth $109,000 after purchasing an additional 95 shares in the last quarter. Arkadios Wealth Advisors boosted its stake in NetEase by 5.9% in the fourth quarter. Arkadios Wealth Advisors now owns 1,859 shares of the technology company’s stock worth $256,000 after purchasing an additional 103 shares in the last quarter. Finally, Spire Wealth Management boosted its stake in NetEase by 31.3% in the fourth quarter. Spire Wealth Management now owns 436 shares of the technology company’s stock worth $60,000 after purchasing an additional 104 shares in the last quarter. Institutional investors and hedge funds own 11.07% of the company’s stock.

NetEase Stock Down 3.3%

Shares of NTES opened at $121.81 on Wednesday. NetEase, Inc. has a 12-month low of $106.06 and a 12-month high of $159.55. The firm has a market capitalization of $77.77 billion, a PE ratio of 16.18, a price-to-earnings-growth ratio of 1.63 and a beta of 0.72. The stock’s fifty day simple moving average is $117.56 and its 200-day simple moving average is $124.19.

NetEase Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Friday, June 5th will be paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, June 5th. NetEase’s dividend payout ratio is 38.11%.

Wall Street Analyst Weigh In

A number of research firms have commented on NTES. Benchmark reissued a “buy” rating on shares of NetEase in a research note on Friday, May 22nd. Zacks Research raised NetEase from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 8th. Wall Street Zen raised NetEase from a “hold” rating to a “buy” rating in a research note on Saturday, May 23rd. Finally, Morgan Stanley reissued an “overweight” rating and issued a $158.00 price objective on shares of NetEase in a research note on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $157.38.

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.