Ping Capital Management Inc. Acquires 3,000 Shares of NetEase, Inc. (NASDAQ:NTES)

Ping Capital Management Inc. grew its stake in shares of NetEase, Inc. (NASDAQ:NTES) by 120.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 5,500 shares of the technology company’s stock after purchasing an additional 3,000 shares during the period. Ping Capital Management Inc.’s holdings in NetEase were worth $491,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in NetEase by 13,747.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,258,442 shares of the technology company’s stock worth $585,227,000 after buying an additional 6,213,248 shares during the last quarter. Hhlr Advisors LTD. lifted its position in shares of NetEase by 86.8% during the 3rd quarter. Hhlr Advisors LTD. now owns 2,588,943 shares of the technology company’s stock valued at $242,092,000 after buying an additional 1,203,129 shares during the last quarter. Fisher Asset Management LLC lifted its position in shares of NetEase by 7.8% during the 3rd quarter. Fisher Asset Management LLC now owns 1,145,657 shares of the technology company’s stock valued at $107,130,000 after buying an additional 82,474 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of NetEase by 1.1% during the 3rd quarter. Wellington Management Group LLP now owns 1,020,213 shares of the technology company’s stock worth $95,400,000 after acquiring an additional 10,920 shares during the period. Finally, Van ECK Associates Corp increased its holdings in NetEase by 12.3% in the 3rd quarter. Van ECK Associates Corp now owns 666,411 shares of the technology company’s stock worth $62,316,000 after acquiring an additional 72,988 shares during the last quarter. Institutional investors own 11.07% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Bank of America upped their price objective on shares of NetEase from $120.00 to $122.00 and gave the company a “buy” rating in a report on Wednesday, January 15th. StockNews.com cut NetEase from a “strong-buy” rating to a “buy” rating in a report on Friday, December 6th. Citigroup lifted their target price on NetEase from $108.00 to $115.00 and gave the company a “buy” rating in a report on Friday, November 15th. Morgan Stanley raised shares of NetEase from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $90.00 to $108.00 in a research note on Wednesday, January 8th. Finally, Benchmark cut their price target on shares of NetEase from $120.00 to $105.00 and set a “buy” rating for the company 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $108.71.

NetEase Price Performance

Shares of NetEase stock opened at $101.21 on Wednesday. NetEase, Inc. has a 1 year low of $75.85 and a 1 year high of $114.50. The company has a 50-day moving average of $94.35 and a 200 day moving average of $88.55. The firm has a market cap of $64.99 billion, a price-to-earnings ratio of 17.10, a PEG ratio of 3.44 and a beta of 0.58.

NetEase Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were given a $0.435 dividend. This represents a $1.74 annualized dividend and a dividend yield of 1.72%. The ex-dividend date was Friday, November 29th. NetEase’s dividend payout ratio is presently 29.22%.

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.