Sanders Morris Harris LLC Makes New $901,000 Investment in NetEase, Inc. $NTES

Sanders Morris Harris LLC acquired a new stake in NetEase, Inc. (NASDAQ:NTES) during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 5,925 shares of the technology company’s stock, valued at approximately $901,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Wellington Management Group LLP grew its stake in shares of NetEase by 111.7% during the first quarter. Wellington Management Group LLP now owns 1,988,541 shares of the technology company’s stock worth $204,661,000 after purchasing an additional 1,049,023 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in NetEase by 54.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,977,835 shares of the technology company’s stock valued at $203,560,000 after buying an additional 697,192 shares in the last quarter. Man Group plc raised its stake in NetEase by 33.3% in the second quarter. Man Group plc now owns 983,156 shares of the technology company’s stock valued at $132,313,000 after buying an additional 245,872 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in NetEase by 255.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 264,463 shares of the technology company’s stock worth $35,591,000 after buying an additional 189,963 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S lifted its holdings in NetEase by 103.0% during the 2nd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 332,195 shares of the technology company’s stock worth $44,707,000 after buying an additional 168,573 shares during the last quarter. 11.07% of the stock is currently owned by institutional investors and hedge funds.

NetEase Stock Down 1.9%

NTES opened at $135.64 on Wednesday. NetEase, Inc. has a 52 week low of $87.67 and a 52 week high of $159.55. The business’s 50 day moving average is $141.83 and its two-hundred day moving average is $138.44. The firm has a market cap of $85.94 billion, a price-to-earnings ratio of 17.32, a price-to-earnings-growth ratio of 1.66 and a beta of 0.68.

NetEase Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be paid a dividend of $0.57 per share. The ex-dividend date is Friday, December 5th. This represents a $2.28 dividend on an annualized basis and a yield of 1.7%. NetEase’s dividend payout ratio is currently 28.99%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on NTES shares. Barclays set a $135.00 price objective on NetEase and gave the company an “equal weight” rating in a report on Friday, November 21st. JPMorgan Chase & Co. upgraded shares of NetEase from a “neutral” rating to an “overweight” rating and increased their price target for the company from $138.00 to $190.00 in a research note on Friday, October 10th. Citigroup reissued a “buy” rating on shares of NetEase in a report on Friday, November 21st. Arete Research upgraded shares of NetEase from a “sell” rating to a “buy” rating and set a $150.00 price objective for the company in a research report on Wednesday, September 3rd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of NetEase in a report on Monday. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $152.33.

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.