Arrowstreet Capital Limited Partnership Purchases 54,899 Shares of NetEase, Inc. (NASDAQ:NTES)

Arrowstreet Capital Limited Partnership raised its position in NetEase, Inc. (NASDAQ:NTES) by 2.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,016,465 shares of the technology company’s stock after purchasing an additional 54,899 shares during the period. Arrowstreet Capital Limited Partnership owned 0.31% of NetEase worth $179,889,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Davis Selected Advisers bought a new stake in NetEase during the fourth quarter valued at $53,287,000. Temasek Holdings Private Ltd purchased a new stake in NetEase in the third quarter valued at approximately $51,498,000. Greenwoods Asset Management Hong Kong Ltd. lifted its position in NetEase by 10.8% during the fourth quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 3,632,870 shares of the technology company’s stock valued at $324,088,000 after purchasing an additional 354,273 shares during the last quarter. FengHe Fund Management Pte. Ltd. purchased a new position in NetEase in the 4th quarter worth approximately $30,563,000. Finally, Pictet Asset Management Holding SA increased its holdings in shares of NetEase by 1,459.5% in the 4th quarter. Pictet Asset Management Holding SA now owns 134,113 shares of the technology company’s stock worth $11,964,000 after buying an additional 125,513 shares during the last quarter. 11.07% of the stock is currently owned by hedge funds and other institutional investors.

NetEase Stock Performance

Shares of NetEase stock opened at $100.72 on Monday. NetEase, Inc. has a 52-week low of $75.85 and a 52-week high of $110.15. The company’s 50 day moving average price is $102.05 and its 200-day moving average price is $92.79. The stock has a market capitalization of $64.68 billion, a price-to-earnings ratio of 15.81, a P/E/G ratio of 3.37 and a beta of 0.61.

NetEase (NASDAQ:NTES) last announced its quarterly earnings results on Thursday, February 20th. The technology company reported $1.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.73 by $0.14. The business had revenue of $3.66 billion for the quarter, compared to analyst estimates of $27.16 billion. NetEase had a net margin of 28.17% and a return on equity of 22.12%. As a group, equities research analysts forecast that NetEase, Inc. will post 6.91 earnings per share for the current fiscal year.

NetEase Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th were issued a $0.435 dividend. This represents a $1.74 annualized dividend and a yield of 1.73%. The ex-dividend date was Thursday, March 6th. NetEase’s dividend payout ratio (DPR) is currently 76.45%.

Analysts Set New Price Targets

Several research analysts recently issued reports on NTES shares. Benchmark upped their target price on shares of NetEase from $105.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Morgan Stanley upped their price objective on NetEase from $108.00 to $117.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Barclays raised their price objective on NetEase from $82.00 to $104.00 and gave the company an “equal weight” rating in a report on Monday, February 24th. Bank of America upped their target price on NetEase from $120.00 to $122.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. Finally, StockNews.com downgraded shares of NetEase from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 6th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, NetEase currently has an average rating of “Moderate Buy” and an average target price of $114.57.

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.