World Investment Advisors LLC Purchases Shares of 44,254 NetEase, Inc. (NASDAQ:NTES)

World Investment Advisors LLC acquired a new position in shares of NetEase, Inc. (NASDAQ:NTES) in the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 44,254 shares of the technology company’s stock, valued at approximately $4,138,000.

Several other large investors have also modified their holdings of the stock. Guinness Asset Management LTD increased its position in shares of NetEase by 16.7% in the third quarter. Guinness Asset Management LTD now owns 86,741 shares of the technology company’s stock worth $8,111,000 after acquiring an additional 12,410 shares in the last quarter. Legacy Capital Group California Inc. acquired a new position in NetEase in the 2nd quarter worth approximately $267,000. Assetmark Inc. grew its position in NetEase by 27.3% during the 3rd quarter. Assetmark Inc. now owns 38,469 shares of the technology company’s stock worth $3,597,000 after purchasing an additional 8,248 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in NetEase by 15.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 569,633 shares of the technology company’s stock valued at $54,502,000 after purchasing an additional 76,446 shares during the period. Finally, Van ECK Associates Corp raised its stake in NetEase by 2.2% during the 2nd quarter. Van ECK Associates Corp now owns 593,423 shares of the technology company’s stock valued at $56,719,000 after purchasing an additional 12,908 shares during the period. 11.07% of the stock is owned by institutional investors.

NetEase Stock Performance

NASDAQ:NTES opened at $95.45 on Friday. The company has a market capitalization of $61.29 billion, a P/E ratio of 16.12, a P/E/G ratio of 3.58 and a beta of 0.57. The stock’s 50 day moving average price is $85.60 and its 200 day moving average price is $87.90. NetEase, Inc. has a 52 week low of $75.85 and a 52 week high of $114.50.

NetEase Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were paid a dividend of $0.435 per share. The ex-dividend date was Friday, November 29th. This represents a $1.74 annualized dividend and a dividend yield of 1.82%. NetEase’s dividend payout ratio (DPR) is 29.22%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on NTES shares. Barclays lowered their price target on NetEase from $104.00 to $82.00 and set an “equal weight” rating on the stock in a report on Monday, August 26th. Jefferies Financial Group lowered their target price on NetEase from $126.00 to $103.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Bank of America reduced their price target on shares of NetEase from $142.00 to $120.00 and set a “buy” rating for the company in a research report on Friday, August 23rd. Benchmark lowered their price objective on shares of NetEase from $120.00 to $105.00 and set a “buy” rating on the stock in a research report on Friday, November 15th. Finally, Citigroup increased their target price on shares of NetEase from $108.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.