Long Corridor Asset Management Ltd Buys New Holdings in NetEase, Inc. (NASDAQ:NTES)

Long Corridor Asset Management Ltd purchased a new position in shares of NetEase, Inc. (NASDAQ:NTES) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 40,000 shares of the technology company’s stock, valued at approximately $3,568,000. NetEase comprises about 2.7% of Long Corridor Asset Management Ltd’s holdings, making the stock its 12th biggest holding.

Other institutional investors and hedge funds have also bought and sold shares of the company. Farther Finance Advisors LLC grew its stake in shares of NetEase by 81.7% during the 4th quarter. Farther Finance Advisors LLC now owns 338 shares of the technology company’s stock worth $30,000 after purchasing an additional 152 shares during the period. Brooklyn Investment Group purchased a new stake in NetEase during the fourth quarter worth $34,000. UMB Bank n.a. grew its position in NetEase by 33.3% during the fourth quarter. UMB Bank n.a. now owns 444 shares of the technology company’s stock valued at $40,000 after buying an additional 111 shares during the period. Live Oak Investment Partners purchased a new position in NetEase in the fourth quarter valued at $62,000. Finally, RPg Family Wealth Advisory LLC purchased a new position in NetEase in the third quarter valued at $70,000. 11.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

NetEase Stock Up 3.0 %

Shares of NASDAQ:NTES opened at $99.93 on Tuesday. NetEase, Inc. has a 52-week low of $75.85 and a 52-week high of $110.15. The stock has a market cap of $64.17 billion, a P/E ratio of 15.69, a PEG ratio of 3.37 and a beta of 0.61. The business has a fifty day moving average of $101.97 and a two-hundred day moving average of $92.14.

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

NetEase Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th were issued a dividend of $0.435 per share. The ex-dividend date was Thursday, March 6th. This represents a $1.74 dividend on an annualized basis and a dividend yield of 1.74%. NetEase’s dividend payout ratio is currently 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.