Caas Capital Management LP Increases Stock Holdings in NetEase, Inc. (NASDAQ:NTES)

Caas Capital Management LP raised its stake in NetEase, Inc. (NASDAQ:NTES) by 62.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 26,467 shares of the technology company’s stock after purchasing an additional 10,200 shares during the quarter. NetEase accounts for about 0.4% of Caas Capital Management LP’s portfolio, making the stock its 15th largest position. Caas Capital Management LP’s holdings in NetEase were worth $2,361,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Guinness Asset Management LTD raised its position in NetEase by 16.7% in the 3rd quarter. Guinness Asset Management LTD now owns 86,741 shares of the technology company’s stock valued at $8,111,000 after purchasing an additional 12,410 shares in the last quarter. Assetmark Inc. raised its position in shares of NetEase by 27.3% during the 3rd quarter. Assetmark Inc. now owns 38,469 shares of the technology company’s stock worth $3,597,000 after acquiring an additional 8,248 shares in the last quarter. Cetera Investment Advisers raised its position in shares of NetEase by 56.8% during the 2nd quarter. Cetera Investment Advisers now owns 17,123 shares of the technology company’s stock worth $1,637,000 after acquiring an additional 6,203 shares in the last quarter. State of New Jersey Common Pension Fund D raised its position in shares of NetEase by 87.0% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 75,282 shares of the technology company’s stock worth $7,040,000 after acquiring an additional 35,031 shares in the last quarter. Finally, APEIRON CAPITAL Ltd raised its position in shares of NetEase by 20.5% during the 4th quarter. APEIRON CAPITAL Ltd now owns 129,321 shares of the technology company’s stock worth $11,537,000 after acquiring an additional 22,000 shares in the last quarter. Institutional investors and hedge funds own 11.07% of the company’s stock.

NetEase Stock Up 0.8 %

NASDAQ:NTES opened at $103.67 on Tuesday. The company has a market cap of $66.57 billion, a PE ratio of 17.51, a P/E/G ratio of 3.44 and a beta of 0.58. NetEase, Inc. has a 52 week low of $75.85 and a 52 week high of $114.50. The business’s 50 day moving average is $93.98 and its two-hundred day moving average is $88.47.

NetEase Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders 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 1.68%. The ex-dividend date of this dividend was Friday, November 29th. NetEase’s dividend payout ratio (DPR) is presently 29.22%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on NTES. Bank of America raised 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. StockNews.com lowered NetEase from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 6th. Morgan Stanley raised NetEase from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $90.00 to $108.00 in a research report on Wednesday, January 8th. Benchmark cut their price target on NetEase from $120.00 to $105.00 and set a “buy” rating on the stock in a research report on Friday, November 15th. Finally, Citigroup lifted their price target on NetEase from $108.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, NetEase has a consensus rating of “Moderate Buy” and a consensus target price of $108.71.

NetEase Company 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.