Mission Wealth Management LP Purchases 514 Shares of NetEase, Inc. (NASDAQ:NTES)

Mission Wealth Management LP lifted its position in NetEase, Inc. (NASDAQ:NTES) by 22.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,764 shares of the technology company’s stock after buying an additional 514 shares during the period. Mission Wealth Management LP’s holdings in NetEase were worth $257,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Private Trust Co. NA lifted its stake in NetEase by 418.9% in the fourth quarter. Private Trust Co. NA now owns 275 shares of the technology company’s stock valued at $26,000 after buying an additional 222 shares in the last quarter. Chilton Capital Management LLC bought a new stake in NetEase in the 4th quarter valued at $37,000. Headlands Technologies LLC acquired a new position in NetEase in the 3rd quarter worth $56,000. CVA Family Office LLC bought a new position in NetEase during the 4th quarter worth about $65,000. Finally, Huntington National Bank increased its holdings 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 purchasing an additional 162 shares in the last quarter. Institutional investors and hedge funds own 11.07% of the company’s stock.

NetEase Stock Up 4.1 %

NASDAQ:NTES opened at $103.02 on Friday. NetEase, Inc. has a twelve month low of $80.79 and a twelve month high of $118.89. The firm has a market capitalization of $66.42 billion, a price-to-earnings ratio of 16.27, a price-to-earnings-growth ratio of 0.90 and a beta of 0.58. The stock’s 50 day moving average price is $101.31 and its two-hundred day moving average price is $102.66.

NetEase (NASDAQ:NTES) last issued its earnings results on Thursday, February 29th. The technology company reported $1.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.62 by ($0.20). The firm had revenue of $3.82 billion for the quarter, compared to analyst estimates of $3.96 billion. NetEase had a return on equity of 24.36% and a net margin of 28.39%. As a group, analysts anticipate that NetEase, Inc. will post 7.04 earnings per share for the current year.

NetEase Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were issued a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a dividend yield of 4.19%. This is a boost from NetEase’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Wednesday, March 13th. NetEase’s dividend payout ratio is presently 68.09%.

Wall Street Analysts Forecast Growth

NTES has been the subject of several recent research reports. HSBC reduced their price objective on NetEase from $130.00 to $126.00 and set a “buy” rating for the company in a research report on Wednesday, April 24th. StockNews.com cut shares of NetEase from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 29th. Finally, Morgan Stanley lowered their price objective on shares of NetEase from $135.00 to $120.00 and set an “overweight” rating on the stock in a report on Friday, April 12th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $126.00.

About NetEase

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.