Inspire Investing LLC Buys 2,614 Shares of NetEase, Inc. (NASDAQ:NTES)

Inspire Investing LLC increased its stake in NetEase, Inc. (NASDAQ:NTES) by 27.3% in the fourth quarter, HoldingsChannel reports. The fund owned 12,194 shares of the technology company’s stock after purchasing an additional 2,614 shares during the period. Inspire Investing LLC’s holdings in NetEase were worth $1,088,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of NTES. Guinness Asset Management LTD lifted its position in NetEase by 16.7% in the third quarter. Guinness Asset Management LTD now owns 86,741 shares of the technology company’s stock valued at $8,111,000 after purchasing an additional 12,410 shares during the last quarter. Assetmark Inc. increased its stake in shares of NetEase by 27.3% in the third quarter. Assetmark Inc. now owns 38,469 shares of the technology company’s stock worth $3,597,000 after buying an additional 8,248 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of NetEase by 15.5% in the second quarter. Dimensional Fund Advisors LP now owns 569,633 shares of the technology company’s stock worth $54,502,000 after buying an additional 76,446 shares during the period. Cetera Investment Advisers raised its holdings in NetEase by 56.8% during the 2nd quarter. Cetera Investment Advisers now owns 17,123 shares of the technology company’s stock valued at $1,637,000 after buying an additional 6,203 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D boosted its position in NetEase by 87.0% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 75,282 shares of the technology company’s stock valued at $7,040,000 after buying an additional 35,031 shares during the period. 11.07% of the stock is currently owned by hedge funds and other institutional investors.

NetEase Stock Performance

NTES stock opened at $99.45 on Friday. NetEase, Inc. has a fifty-two week low of $75.85 and a fifty-two week high of $114.50. The company has a market capitalization of $63.86 billion, a price-to-earnings ratio of 16.80, a price-to-earnings-growth ratio of 3.37 and a beta of 0.57. The business’s 50 day moving average price is $91.78 and its two-hundred day moving average price is $88.01.

NetEase Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were paid a $0.435 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.74 annualized dividend and a yield of 1.75%. NetEase’s payout ratio is 29.22%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Morgan Stanley upgraded shares of NetEase from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $90.00 to $108.00 in a research report on Wednesday, January 8th. StockNews.com downgraded NetEase from a “strong-buy” rating to a “buy” rating in a report on Friday, December 6th. Bank of America increased their price objective on NetEase from $120.00 to $122.00 and gave the stock a “buy” rating in a report on Wednesday, January 15th. Benchmark reduced their target price on NetEase from $120.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, November 15th. Finally, Citigroup raised their price target on NetEase from $108.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $108.71.

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.