Taikang Asset Management Hong Kong Co Ltd Has $8.44 Million Holdings in NetEase, Inc. $NTES

Taikang Asset Management Hong Kong Co Ltd grew its holdings in NetEase, Inc. (NASDAQ:NTES) by 16.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 62,705 shares of the technology company’s stock after acquiring an additional 8,905 shares during the quarter. NetEase accounts for 1.1% of Taikang Asset Management Hong Kong Co Ltd’s portfolio, making the stock its 18th largest holding. Taikang Asset Management Hong Kong Co Ltd’s holdings in NetEase were worth $8,439,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Brighton Jones LLC grew its position in NetEase by 1.1% in 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 last quarter. Avantax Advisory Services Inc. acquired a new position in shares of NetEase during the first quarter valued at about $207,000. Cetera Investment Advisers lifted its stake in shares of NetEase by 21.5% in the first quarter. Cetera Investment Advisers now owns 4,993 shares of the technology company’s stock valued at $514,000 after buying an additional 885 shares during the period. Arkadios Wealth Advisors acquired a new stake in NetEase during the first quarter worth about $328,000. Finally, US Bancorp DE increased its stake in NetEase by 260.4% during the first quarter. US Bancorp DE now owns 26,276 shares of the technology company’s stock valued at $2,704,000 after acquiring an additional 18,985 shares during the period. Institutional investors own 11.07% of the company’s stock.

NetEase Price Performance

NetEase stock opened at $144.95 on Tuesday. The business has a 50 day simple moving average of $144.61 and a 200 day simple moving average of $137.11. The company has a market capitalization of $91.84 billion, a PE ratio of 19.61, a price-to-earnings-growth ratio of 1.91 and a beta of 0.65. NetEase, Inc. has a one year low of $87.67 and a one year high of $159.55.

NetEase Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Friday, December 5th. NetEase’s payout ratio is currently 28.99%.

Wall Street Analyst Weigh In

Several research firms have commented on NTES. The Goldman Sachs Group set a $161.00 price target on NetEase and gave the company a “buy” rating in a report on Monday, September 15th. Arete upgraded NetEase from a “sell” rating to a “buy” rating and set a $150.00 target price for the company in a research note on Wednesday, September 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of NetEase in a research report on Wednesday, November 19th. Citigroup reiterated a “buy” rating on shares of NetEase in a research note on Friday, November 21st. Finally, Wall Street Zen lowered shares of NetEase from a “buy” rating to a “hold” rating in a report on Sunday, November 23rd. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $152.10.

NetEase Profile

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.