Fisher Asset Management LLC Boosts Holdings in NetEase, Inc. (NASDAQ:NTES)

Fisher Asset Management LLC grew its position in NetEase, Inc. (NASDAQ:NTES) by 7.8% during the 3rd quarter, Holdings Channel.com reports. The firm owned 1,145,657 shares of the technology company’s stock after purchasing an additional 82,474 shares during the period. Fisher Asset Management LLC’s holdings in NetEase were worth $107,130,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in NTES. Guinness Asset Management LTD grew its stake in NetEase by 16.7% during the 3rd quarter. Guinness Asset Management LTD now owns 86,741 shares of the technology company’s stock worth $8,111,000 after buying an additional 12,410 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of NetEase by 65.8% during the second quarter. Assenagon Asset Management S.A. now owns 772,242 shares of the technology company’s stock worth $73,811,000 after acquiring an additional 306,500 shares during the last quarter. Legacy Capital Group California Inc. acquired a new position in shares of NetEase during the second quarter valued at about $267,000. Assetmark Inc. raised its position in shares of NetEase by 27.3% in the 3rd quarter. Assetmark Inc. now owns 38,469 shares of the technology company’s stock valued at $3,597,000 after purchasing an additional 8,248 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in NetEase by 15.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 569,633 shares of the technology company’s stock worth $54,502,000 after purchasing an additional 76,446 shares in the last quarter. Hedge funds and other institutional investors own 11.07% of the company’s stock.

NetEase Stock Performance

NASDAQ:NTES opened at $85.40 on Tuesday. The company has a fifty day moving average of $84.92 and a two-hundred day moving average of $88.43. NetEase, Inc. has a fifty-two week low of $75.85 and a fifty-two week high of $115.10. The stock has a market capitalization of $54.84 billion, a PE ratio of 14.43, a P/E/G ratio of 3.27 and a beta of 0.57.

NetEase Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.435 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.74 dividend on an annualized basis and a dividend yield of 2.04%. NetEase’s payout ratio is currently 29.22%.

Analyst Upgrades and Downgrades

NTES has been the topic of several research reports. Citigroup raised their target price on NetEase from $108.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Jefferies Financial Group reduced their target price on shares of NetEase from $126.00 to $103.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Bank of America decreased their price objective on NetEase from $142.00 to $120.00 and set a “buy” rating for the company in a report on Friday, August 23rd. Benchmark dropped their target price on NetEase from $120.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, November 15th. Finally, Barclays decreased their target price on shares of NetEase from $104.00 to $82.00 and set an “equal weight” rating for the company in a research note on Monday, August 26th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $107.29.

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.