Aspex Management HK Ltd Acquires Shares of 637,124 NetEase, Inc. (NASDAQ:NTES)

Aspex Management HK Ltd bought a new position in shares of NetEase, Inc. (NASDAQ:NTESFree Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 637,124 shares of the technology company’s stock, valued at approximately $59,354,000. NetEase makes up about 1.7% of Aspex Management HK Ltd’s investment portfolio, making the stock its 19th largest holding. Aspex Management HK Ltd owned about 0.10% of NetEase at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in NetEase by 123.7% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 3,118 shares of the technology company’s stock worth $312,000 after purchasing an additional 1,724 shares during the period. J.P. Morgan Private Wealth Advisors LLC acquired a new position in NetEase in the 3rd quarter valued at about $322,000. NewEdge Wealth LLC increased its position in NetEase by 32.3% in the 3rd quarter. NewEdge Wealth LLC now owns 18,936 shares of the technology company’s stock valued at $1,897,000 after acquiring an additional 4,626 shares during the period. Vanguard Personalized Indexing Management LLC lifted its position in NetEase by 18.3% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 4,833 shares of the technology company’s stock worth $484,000 after acquiring an additional 748 shares during the period. Finally, Huntington National Bank lifted its position in NetEase by 31.4% during the 3rd quarter. Huntington National Bank now owns 678 shares of the technology company’s stock worth $68,000 after acquiring an additional 162 shares during the period. 11.07% of the stock is owned by hedge funds and other institutional investors.

NetEase Price Performance

Shares of NTES remained flat at $93.90 on Friday. The company had a trading volume of 1,568,134 shares, compared to its average volume of 1,924,837. NetEase, Inc. has a 1-year low of $81.30 and a 1-year high of $118.89. The stock has a market cap of $60.30 billion, a price-to-earnings ratio of 14.56, a PEG ratio of 1.82 and a beta of 0.52. The company’s fifty day moving average is $95.68 and its 200-day moving average is $100.28.

NetEase (NASDAQ:NTESGet Free Report) last posted its earnings results on Thursday, May 23rd. The technology company reported $1.63 earnings per share for the quarter, missing the consensus estimate of $1.68 by ($0.05). The firm had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.61 billion. NetEase had a net margin of 28.75% and a return on equity of 24.19%. As a group, equities analysts anticipate that NetEase, Inc. will post 6.86 EPS for the current year.

NetEase Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Thursday, June 6th will be issued a $0.495 dividend. This represents a $1.98 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend is Thursday, June 6th. NetEase’s dividend payout ratio (DPR) is presently 30.54%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on NTES. StockNews.com lowered shares of NetEase from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 16th. Morgan Stanley reiterated an “equal weight” rating and set a $100.00 price target (down from $120.00) on shares of NetEase in a research note on Thursday, May 23rd. Benchmark raised their price objective on shares of NetEase from $144.00 to $145.00 and gave the company a “buy” rating in a research report on Friday, May 24th. Finally, HSBC dropped their target price on NetEase from $130.00 to $126.00 and set a “buy” rating on the stock in a research report on Wednesday, April 24th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $125.71.

View Our Latest Report on NTES

About NetEase

(Free Report)

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.

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Institutional Ownership by Quarter for NetEase (NASDAQ:NTES)

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