Matthews International Capital Management LLC lifted its position in NetEase Inc (NASDAQ:NTES) by 2.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 168,800 shares of the technology company’s stock after purchasing an additional 4,500 shares during the quarter. NetEase comprises 2.0% of Matthews International Capital Management LLC’s holdings, making the stock its 12th largest position. Matthews International Capital Management LLC owned approximately 0.13% of NetEase worth $43,174,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Genesis Asset Managers LLP purchased a new stake in shares of NetEase in the second quarter valued at approximately $194,253,000. Lazard Asset Management LLC raised its position in NetEase by 15.1% in the first quarter. Lazard Asset Management LLC now owns 3,958,410 shares of the technology company’s stock valued at $955,757,000 after purchasing an additional 518,036 shares during the period. Coronation Fund Managers Ltd. raised its position in NetEase by 980.8% in the first quarter. Coronation Fund Managers Ltd. now owns 220,055 shares of the technology company’s stock valued at $53,133,000 after purchasing an additional 199,694 shares during the period. Newport Asia LLC purchased a new stake in NetEase in the first quarter valued at $47,498,000. Finally, Janus Henderson Group PLC raised its position in NetEase by 705.3% in the second quarter. Janus Henderson Group PLC now owns 163,112 shares of the technology company’s stock valued at $41,728,000 after purchasing an additional 142,857 shares during the period. Institutional investors own 45.19% of the company’s stock.
NASDAQ NTES traded down $2.91 during trading hours on Thursday, hitting $250.45. 223,763 shares of the company were exchanged, compared to its average volume of 904,397. The company has a 50 day moving average of $246.34 and a two-hundred day moving average of $251.48. NetEase Inc has a 52-week low of $184.60 and a 52-week high of $289.68. The firm has a market cap of $34.44 billion, a price-to-earnings ratio of 36.46, a PEG ratio of 0.80 and a beta of 0.87.
The business also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 23rd will be issued a dividend of $1.04 per share. This is an increase from NetEase’s previous quarterly dividend of $0.69. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $4.16 annualized dividend and a yield of 1.66%. NetEase’s dividend payout ratio is 40.03%.
Several equities research analysts recently issued reports on the company. BidaskClub upgraded NetEase from a “strong sell” rating to a “sell” rating in a report on Monday, August 12th. Tigress Financial assumed coverage on NetEase in a report on Friday, August 16th. They issued a “buy” rating on the stock. Zacks Investment Research upgraded NetEase from a “hold” rating to a “buy” rating and set a $238.00 price objective on the stock in a report on Thursday, August 8th. Goldman Sachs Group downgraded NetEase from a “buy” rating to a “neutral” rating in a report on Sunday, August 11th. Finally, Jefferies Financial Group assumed coverage on NetEase in a report on Monday, August 5th. They issued a “buy” rating and a $274.60 price objective on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating and twelve have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $277.34.
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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