Brooklyn Investment Group Invests $34,000 in NetEase, Inc. (NASDAQ:NTES)

Brooklyn Investment Group bought a new position in shares of NetEase, Inc. (NASDAQ:NTES) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 376 shares of the technology company’s stock, valued at approximately $34,000.

Several other hedge funds have also added to or reduced their stakes in NTES. Retireful LLC acquired a new stake in shares of NetEase during the fourth quarter worth $222,000. APEIRON CAPITAL Ltd increased its position in NetEase by 20.5% during the fourth 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 during the period. Franklin Resources Inc. raised its stake in NetEase by 7.9% in the 3rd quarter. Franklin Resources Inc. now owns 6,915 shares of the technology company’s stock worth $588,000 after purchasing an additional 507 shares in the last quarter. World Investment Advisors LLC bought a new stake in NetEase in the 3rd quarter valued at about $4,138,000. Finally, Sanctuary Advisors LLC boosted its holdings in NetEase by 5.6% in the 3rd quarter. Sanctuary Advisors LLC now owns 13,245 shares of the technology company’s stock valued at $1,145,000 after purchasing an additional 701 shares during the period. 11.07% of the stock is owned by institutional investors and hedge funds.

NetEase Stock Up 0.5 %

NetEase stock opened at $99.76 on Monday. The stock has a market cap of $64.06 billion, a PE ratio of 16.85, a P/E/G ratio of 3.08 and a beta of 0.57. NetEase, Inc. has a 12-month low of $75.85 and a 12-month high of $114.50. The business’s 50-day moving average price is $90.42 and its two-hundred day moving average price is $87.90.

NetEase Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were issued a dividend of $0.435 per share. This represents a $1.74 annualized dividend and a dividend yield of 1.74%. The ex-dividend date was Friday, November 29th. NetEase’s dividend payout ratio (DPR) is presently 29.22%.

Wall Street Analyst Weigh In

NTES has been the subject of a number of analyst reports. StockNews.com downgraded shares of NetEase from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 6th. Bank of America lifted their price objective on NetEase from $120.00 to $122.00 and gave the company a “buy” rating in a report on Wednesday, January 15th. Morgan Stanley raised NetEase from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $90.00 to $108.00 in a report on Wednesday, January 8th. Benchmark dropped their price target on NetEase from $120.00 to $105.00 and set a “buy” rating for the company in a research note on Friday, November 15th. Finally, Citigroup increased their price objective on shares of NetEase from $108.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target 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.