Newport Asia LLC Buys Shares of 169,400 NetEase Inc (NTES)

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Newport Asia LLC bought a new position in NetEase Inc (NASDAQ:NTES) during the first quarter, HoldingsChannel.com reports. The institutional investor bought 169,400 shares of the technology company’s stock, valued at approximately $47,498,000. NetEase comprises about 7.3% of Newport Asia LLC’s portfolio, making the stock its 6th largest position.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. BlackRock Inc. lifted its holdings in NetEase by 12.9% in the fourth quarter. BlackRock Inc. now owns 5,280,932 shares of the technology company’s stock worth $1,242,973,000 after acquiring an additional 602,693 shares during the last quarter. Vanguard Group Inc increased its stake in shares of NetEase by 1.7% in the third quarter. Vanguard Group Inc now owns 2,562,086 shares of the technology company’s stock valued at $584,796,000 after purchasing an additional 43,455 shares during the period. FMR LLC increased its stake in shares of NetEase by 3.5% in the fourth quarter. FMR LLC now owns 2,172,576 shares of the technology company’s stock valued at $511,359,000 after purchasing an additional 72,461 shares during the period. Overlook Holdings Ltd increased its stake in shares of NetEase by 7.8% in the fourth quarter. Overlook Holdings Ltd now owns 925,560 shares of the technology company’s stock valued at $217,849,000 after purchasing an additional 66,622 shares during the period. Finally, Norges Bank acquired a new stake in shares of NetEase in the fourth quarter valued at approximately $214,335,000. 46.10% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ NTES traded down $4.19 during mid-day trading on Monday, reaching $255.98. 885,575 shares of the company traded hands, compared to its average volume of 904,377. NetEase Inc has a fifty-two week low of $184.60 and a fifty-two week high of $289.68. The firm has a market capitalization of $33.62 billion, a PE ratio of 37.26, a P/E/G ratio of 1.93 and a beta of 0.81.

NetEase (NASDAQ:NTES) last posted its quarterly earnings data on Wednesday, May 15th. The technology company reported $2.75 EPS for the quarter, beating the Zacks’ consensus estimate of $1.86 by $0.89. NetEase had a net margin of 10.94% and a return on equity of 17.05%. The business had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.73 billion. During the same quarter last year, the business earned $1.59 earnings per share. The business’s revenue for the quarter was up 23.0% on a year-over-year basis. Analysts forecast that NetEase Inc will post 8.94 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 31st will be paid a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend is Thursday, May 30th. This is a positive change from NetEase’s previous quarterly dividend of $0.48. NetEase’s dividend payout ratio (DPR) is currently 27.80%.

Several equities research analysts have commented on NTES shares. China Renaissance Securities upgraded shares of NetEase from a “hold” rating to a “buy” rating in a research note on Thursday, May 16th. Benchmark restated a “buy” rating and issued a $305.00 price target (up previously from $295.00) on shares of NetEase in a research note on Thursday, May 16th. TH Capital raised their price target on shares of NetEase from $270.00 to $310.00 and gave the company a “buy” rating in a research note on Monday, May 13th. ValuEngine upgraded shares of NetEase from a “hold” rating to a “buy” rating in a research note on Thursday, April 4th. Finally, BidaskClub upgraded shares of NetEase from a “hold” rating to a “buy” rating in a research note on Thursday, March 14th. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $280.45.

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NetEase Profile

NetEase, Inc operates an interactive online community in the People's Republic of China. The company operates in four segments: Online Games Services, E-Commerce, Advertising Services, and Innovative Businesses and Other Services. It offers various games in a range of genres through mobile devices and PCs, including role-playing games, MMORPGs, battle arena games, simulation games, collectible card games, first-person shooter games, sandbox games, and other types of games to the Chinese market.

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Want to see what other hedge funds are holding NTES? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NetEase Inc (NASDAQ:NTES).

Institutional Ownership by Quarter for NetEase (NASDAQ:NTES)

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