ABS Direct Equity Fund LLC Invests $289,000 in NetEase, Inc. (NASDAQ:NTES)

ABS Direct Equity Fund LLC bought a new stake in NetEase, Inc. (NASDAQ:NTES) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,100 shares of the technology company’s stock, valued at approximately $289,000.

A number of other large investors have also added to or reduced their stakes in the company. M&T Bank Corp increased its position in shares of NetEase by 12.4% during the 4th quarter. M&T Bank Corp now owns 18,820 shares of the technology company’s stock valued at $1,753,000 after purchasing an additional 2,075 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its position in NetEase by 14.2% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,830 shares of the technology company’s stock valued at $171,000 after acquiring an additional 227 shares during the last quarter. Natixis Advisors L.P. raised its stake in shares of NetEase by 5.8% during the fourth quarter. Natixis Advisors L.P. now owns 138,960 shares of the technology company’s stock worth $12,945,000 after acquiring an additional 7,616 shares in the last quarter. First Trust Direct Indexing L.P. lifted its holdings in shares of NetEase by 7.8% in the 4th quarter. First Trust Direct Indexing L.P. now owns 5,950 shares of the technology company’s stock worth $554,000 after acquiring an additional 432 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of NetEase by 301.6% in the 4th quarter. Victory Capital Management Inc. now owns 15,749 shares of the technology company’s stock valued at $1,467,000 after purchasing an additional 11,827 shares in the last quarter. Hedge funds and other institutional investors own 11.07% of the company’s stock.

NetEase Trading Up 4.1 %

NASDAQ NTES traded up $4.07 on Friday, hitting $103.02. The company’s stock had a trading volume of 2,724,344 shares, compared to its average volume of 1,456,896. NetEase, Inc. has a 52-week low of $80.79 and a 52-week high of $118.89. The firm has a market cap of $66.42 billion, a P/E ratio of 16.27, a PEG ratio of 0.94 and a beta of 0.58. The company’s 50-day simple moving average is $101.20 and its 200 day simple moving average is $102.64.

NetEase (NASDAQ:NTES) last announced its quarterly earnings results on Thursday, February 29th. The technology company reported $1.42 EPS for the quarter, missing analysts’ consensus estimates of $1.62 by ($0.20). The business had revenue of $3.82 billion during the quarter, compared to analysts’ expectations of $3.96 billion. NetEase had a return on equity of 24.36% and a net margin of 28.39%. On average, research analysts forecast that NetEase, Inc. will post 7.04 EPS for the current fiscal year.

NetEase Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were issued a $1.08 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This is a positive change from NetEase’s previous quarterly dividend of $0.50. This represents a $4.32 annualized dividend and a yield of 4.19%. NetEase’s dividend payout ratio (DPR) is 68.09%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Morgan Stanley decreased their target price on shares of NetEase from $135.00 to $120.00 and set an “overweight” rating on the stock in a research report on Friday, April 12th. StockNews.com lowered NetEase from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 29th. Finally, HSBC reduced their price target on NetEase from $130.00 to $126.00 and set a “buy” rating on the stock in a research report on Wednesday, April 24th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, NetEase presently has a consensus rating of “Buy” and a consensus target price of $126.00.

NetEase Company 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.