5,332 Shares in NetEase, Inc. $NTES Acquired by Heron Bay Capital Management

Heron Bay Capital Management bought a new position in NetEase, Inc. (NASDAQ:NTES) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 5,332 shares of the technology company’s stock, valued at approximately $810,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Barclays PLC grew its position in NetEase by 4.8% in the 3rd quarter. Barclays PLC now owns 20,644 shares of the technology company’s stock worth $3,138,000 after purchasing an additional 943 shares during the last quarter. Crossmark Global Holdings Inc. boosted its position in shares of NetEase by 313.0% during the third quarter. Crossmark Global Holdings Inc. now owns 123,284 shares of the technology company’s stock worth $18,738,000 after buying an additional 93,430 shares during the period. Integrated Quantitative Investments LLC acquired a new position in shares of NetEase during the third quarter worth approximately $2,706,000. Dimensional Fund Advisors LP grew its holdings in NetEase by 15.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 841,623 shares of the technology company’s stock worth $127,823,000 after buying an additional 112,001 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky increased its position in NetEase by 8.3% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 210,900 shares of the technology company’s stock valued at $32,055,000 after acquiring an additional 16,200 shares during the period. Institutional investors and hedge funds own 11.07% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on NTES. Wall Street Zen cut NetEase from a “buy” rating to a “hold” rating in a research note on Sunday, November 23rd. Nomura dropped their price target on shares of NetEase from $160.00 to $155.00 and set a “buy” rating on the stock in a research report on Friday, February 13th. Citigroup reiterated a “buy” rating on shares of NetEase in a report on Wednesday, February 11th. Barclays dropped their target price on NetEase from $135.00 to $132.00 and set an “equal weight” rating on the stock in a report on Thursday, February 12th. Finally, Benchmark reiterated a “buy” rating on shares of NetEase in a research report on Thursday, February 12th. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $153.89.

NetEase Price Performance

NTES stock opened at $113.99 on Friday. The firm has a market cap of $72.22 billion, a PE ratio of 15.53, a P/E/G ratio of 1.49 and a beta of 0.74. NetEase, Inc. has a 12 month low of $88.54 and a 12 month high of $159.55. The firm has a 50 day simple moving average of $129.05 and a 200 day simple moving average of $137.75.

NetEase Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Monday, March 16th will be given a $1.16 dividend. This is a positive change from NetEase’s previous quarterly dividend of $0.57. The ex-dividend date is Monday, March 16th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 4.1%. NetEase’s dividend payout ratio is 30.93%.

NetEase Profile

NetEase, Inc (NASDAQ: NTES) is a Chinese technology company headquartered in Hangzhou that develops and operates Internet services and products. Founded in 1997 by William Ding (Ding Lei), the company has grown from an early web portal and e-mail provider into a diversified online services group. William Ding has served as the company’s founder and long-time leader, guiding its expansion into games, digital content and consumer services.

The company’s primary business is interactive entertainment: NetEase Games designs, develops and publishes PC and mobile games for domestic and international audiences, offering a mix of self-developed franchises and titles published under licensing and strategic partnerships.