NetEase, Inc. (NASDAQ:NTES) Shares Acquired by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC increased its holdings in shares of NetEase, Inc. (NASDAQ:NTES) by 43.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 67,797 shares of the technology company’s stock after purchasing an additional 20,552 shares during the quarter. Exchange Traded Concepts LLC’s holdings in NetEase were worth $6,048,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. UMB Bank n.a. increased its position in shares of NetEase by 33.3% in the fourth quarter. UMB Bank n.a. now owns 444 shares of the technology company’s stock worth $40,000 after acquiring an additional 111 shares in the last quarter. Brighton Jones LLC boosted its position in NetEase by 1.1% during the 4th quarter. Brighton Jones LLC now owns 10,297 shares of the technology company’s stock worth $919,000 after purchasing an additional 117 shares during the period. State Street Corp increased its holdings in NetEase by 0.3% in the 3rd quarter. State Street Corp now owns 56,729 shares of the technology company’s stock valued at $5,305,000 after purchasing an additional 156 shares in the last quarter. Financial Advocates Investment Management raised its position in NetEase by 5.4% in the third quarter. Financial Advocates Investment Management now owns 4,647 shares of the technology company’s stock valued at $435,000 after purchasing an additional 237 shares during the period. Finally, Brandes Investment Partners LP boosted its position in shares of NetEase by 1.2% in the second quarter. Brandes Investment Partners LP now owns 20,880 shares of the technology company’s stock worth $2,000,000 after buying an additional 248 shares during the period. Hedge funds and other institutional investors own 11.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on NTES. Benchmark dropped their target price on NetEase from $120.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, November 15th. Morgan Stanley upgraded shares of NetEase from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $90.00 to $108.00 in a research note on Wednesday, January 8th. StockNews.com downgraded shares of NetEase from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 6th. Citigroup upped their price objective on shares of NetEase from $108.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Finally, Bank of America lifted their target price on NetEase from $120.00 to $122.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $108.71.

NetEase Stock Up 3.8 %

Shares of NetEase stock opened at $103.18 on Friday. The business has a 50-day moving average price of $92.08 and a 200 day moving average price of $88.09. NetEase, Inc. has a fifty-two week low of $75.85 and a fifty-two week high of $114.50. The firm has a market cap of $66.26 billion, a P/E ratio of 17.43, a P/E/G ratio of 3.33 and a beta of 0.57.

NetEase Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were given a dividend of $0.435 per share. This represents a $1.74 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend was Friday, November 29th. NetEase’s dividend payout ratio is currently 29.22%.

About NetEase

NetEase, Inc engages in online games, music streaming, online intelligent learning services, and internet content services businesses in China and internationally . The company operates through Games and Related Value-Added Services, Youdao, Cloud Music, and Innovative Businesses and Others segments.