Y Intercept Hong Kong Ltd Buys Shares of 10,919 NetEase, Inc. (NASDAQ:NTES)

Y Intercept Hong Kong Ltd bought a new stake in shares of NetEase, Inc. (NASDAQ:NTES) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 10,919 shares of the technology company’s stock, valued at approximately $974,000.

A number of other large investors also recently added to or reduced their stakes in NTES. Brooklyn Investment Group acquired a new position in NetEase during the 4th quarter valued at about $34,000. UMB Bank n.a. lifted its position in NetEase by 33.3% during the 4th quarter. UMB Bank n.a. now owns 444 shares of the technology company’s stock valued at $40,000 after purchasing an additional 111 shares during the period. Highline Wealth Partners LLC acquired a new position in NetEase during the 3rd quarter valued at about $45,000. RPg Family Wealth Advisory LLC acquired a new position in NetEase during the 3rd quarter valued at about $70,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in NetEase during the 3rd quarter valued at about $76,000. 11.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently weighed in on NTES. Benchmark increased their price target on shares of NetEase from $105.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Bank of America increased their price target on shares of NetEase from $120.00 to $122.00 and gave the company a “buy” rating in a research report on Wednesday, January 15th. Morgan Stanley increased their price target on shares of NetEase from $108.00 to $117.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Citigroup increased their price target 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, Barclays increased their price target on shares of NetEase from $82.00 to $104.00 and gave the company an “equal weight” rating in a research report on Monday. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $114.57.

NetEase Stock Performance

NASDAQ NTES opened at $100.45 on Friday. The stock has a market cap of $64.50 billion, a price-to-earnings ratio of 15.77, a PEG ratio of 3.37 and a beta of 0.58. NetEase, Inc. has a 52-week low of $75.85 and a 52-week high of $113.77. The business has a 50 day simple moving average of $98.37 and a 200 day simple moving average of $90.07.

NetEase (NASDAQ:NTES) last issued its quarterly earnings results on Thursday, February 20th. The technology company reported $1.87 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.14. The company had revenue of $3.66 billion during the quarter, compared to analysts’ expectations of $27.16 billion. NetEase had a net margin of 28.17% and a return on equity of 22.12%. On average, analysts predict that NetEase, Inc. will post 6.91 EPS for the current year.

NetEase Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th will be issued a $0.435 dividend. This represents a $1.74 annualized dividend and a dividend yield of 1.73%. The ex-dividend date is Thursday, March 6th. NetEase’s payout ratio is presently 76.45%.

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.