Tuttle Capital Management LLC Invests $681,000 in NetEase, Inc. $NTES

Tuttle Capital Management LLC acquired a new position in NetEase, Inc. (NASDAQ:NTES) during the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 4,951 shares of the technology company’s stock, valued at approximately $681,000. NetEase comprises 1.5% of Tuttle Capital Management LLC’s investment portfolio, making the stock its 29th biggest holding.

Several other hedge funds have also recently bought and sold shares of NTES. Union Bancaire Privee UBP SA boosted its stake in NetEase by 665.1% during the 4th quarter. Union Bancaire Privee UBP SA now owns 2,410 shares of the technology company’s stock valued at $332,000 after purchasing an additional 2,095 shares during the period. Allworth Financial LP increased its stake in shares of NetEase by 15.2% in the third quarter. Allworth Financial LP now owns 718 shares of the technology company’s stock valued at $109,000 after purchasing an additional 95 shares during the period. CIBC Bancorp USA Inc. acquired a new stake in shares of NetEase in the third quarter valued at approximately $238,000. Ovata Capital Management Ltd raised its holdings in shares of NetEase by 228.6% during the third quarter. Ovata Capital Management Ltd now owns 25,300 shares of the technology company’s stock valued at $3,850,000 after buying an additional 17,600 shares during the last quarter. Finally, Morningstar Investment Management LLC bought a new stake in shares of NetEase during the third quarter valued at approximately $3,234,000. 11.07% of the stock is currently owned by institutional investors.

NetEase Price Performance

NetEase stock opened at $113.78 on Friday. NetEase, Inc. has a 12-month low of $88.54 and a 12-month high of $159.55. The stock has a market capitalization of $72.09 billion, a PE ratio of 15.50, a price-to-earnings-growth ratio of 1.45 and a beta of 0.74. The firm has a 50 day simple moving average of $123.72 and a 200-day simple moving average of $136.48.

NetEase Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Monday, March 16th will be paid a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend is Monday, March 16th. This is an increase from NetEase’s previous quarterly dividend of $0.57. NetEase’s dividend payout ratio is 63.08%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on NTES shares. Morgan Stanley reissued an “overweight” rating and issued a $154.00 price objective on shares of NetEase in a report on Monday, March 2nd. Wall Street Zen downgraded NetEase from a “buy” rating to a “hold” rating in a research note on Sunday, November 23rd. Nomura reduced their price target on NetEase from $160.00 to $155.00 and set a “buy” rating for the company in a research report on Friday, February 13th. Barclays decreased their price target on NetEase from $135.00 to $132.00 and set an “equal weight” rating for the company in a research note on Thursday, February 12th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of NetEase in a report on Monday, December 22nd. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $153.89.

NetEase Company Profile

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.