Myriad Asset Management US LP Decreases Stock Position in NetEase, Inc. $NTES

Myriad Asset Management US LP cut its position in NetEase, Inc. (NASDAQ:NTES) by 80.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,616 shares of the technology company’s stock after selling 6,749 shares during the period. Myriad Asset Management US LP’s holdings in NetEase were worth $222,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Cornerstone Planning Group LLC bought a new position in shares of NetEase during the 3rd quarter worth $33,000. Steigerwald Gordon & Koch Inc. bought a new stake in NetEase in the 3rd quarter valued at about $38,000. First Horizon Corp bought a new stake in NetEase in the 3rd quarter valued at about $45,000. Mather Group LLC. purchased a new stake in NetEase during the third quarter valued at about $46,000. Finally, Spire Wealth Management lifted its holdings in NetEase by 29.2% during the third quarter. Spire Wealth Management now owns 332 shares of the technology company’s stock valued at $50,000 after purchasing an additional 75 shares during the last quarter. Hedge funds and other institutional investors own 11.07% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on NTES. Citigroup reiterated a “buy” rating on shares of NetEase in a research note on Wednesday, February 11th. Morgan Stanley restated an “overweight” rating and set a $154.00 price target on shares of NetEase in a research note on Monday, March 2nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of NetEase in a report on Monday, December 22nd. Barclays lowered their target price on shares of NetEase from $135.00 to $132.00 and set an “equal weight” rating on the stock in a report on Thursday, February 12th. Finally, Nomura dropped their target price on NetEase from $160.00 to $155.00 and set a “buy” rating on the stock in a research report on Friday, February 13th. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $153.89.

NetEase Stock Performance

NTES stock opened at $112.81 on Friday. The firm has a 50 day moving average of $118.61 and a 200-day moving average of $134.16. The firm has a market capitalization of $71.48 billion, a P/E ratio of 15.37, a price-to-earnings-growth ratio of 1.45 and a beta of 0.76. NetEase, Inc. has a 12 month low of $88.54 and a 12 month high of $159.55.

NetEase Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Monday, March 16th were issued a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend was Monday, March 16th. This is a positive change from NetEase’s previous quarterly dividend of $0.57. NetEase’s payout ratio is 63.08%.

About NetEase

NetEase, Inc (NASDAQ: NTES) is a Chinese technology company headquartered in Hangzhou that develops and operates Internet services and products. Founded in 1997 by William Ding (Ding Lei), the company has grown from an early web portal and e-mail provider into a diversified online services group. William Ding has served as the company’s founder and long-time leader, guiding its expansion into games, digital content and consumer services.

The company’s primary business is interactive entertainment: NetEase Games designs, develops and publishes PC and mobile games for domestic and international audiences, offering a mix of self-developed franchises and titles published under licensing and strategic partnerships.