First Trust Direct Indexing L.P. Grows Position in NetEase, Inc. (NASDAQ:NTES)

First Trust Direct Indexing L.P. boosted its position in shares of NetEase, Inc. (NASDAQ:NTES) by 7.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,950 shares of the technology company’s stock after purchasing an additional 432 shares during the period. First Trust Direct Indexing L.P.’s holdings in NetEase were worth $554,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Private Trust Co. NA grew its holdings in shares of NetEase by 418.9% in the fourth quarter. Private Trust Co. NA now owns 275 shares of the technology company’s stock worth $26,000 after purchasing an additional 222 shares during the last quarter. Chilton Capital Management LLC bought a new stake in shares of NetEase during the fourth quarter valued at approximately $37,000. Headlands Technologies LLC bought a new stake in shares of NetEase during the third quarter valued at approximately $56,000. CVA Family Office LLC purchased a new stake in shares of NetEase in the fourth quarter valued at approximately $65,000. Finally, Huntington National Bank increased its holdings in NetEase by 31.4% during the 3rd quarter. Huntington National Bank now owns 678 shares of the technology company’s stock worth $68,000 after purchasing an additional 162 shares during the period. 11.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on NTES. StockNews.com downgraded NetEase from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 29th. Morgan Stanley cut 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. Finally, HSBC lowered their price target on shares of NetEase from $130.00 to $126.00 and set a “buy” rating for the company in a research report on Wednesday, April 24th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $126.00.

NetEase Stock Up 4.1 %

NASDAQ:NTES opened at $103.02 on Monday. The stock has a market capitalization of $66.42 billion, a price-to-earnings ratio of 16.27, a PEG ratio of 0.94 and a beta of 0.58. NetEase, Inc. has a 52 week low of $80.79 and a 52 week high of $118.89. The firm has a 50 day moving average of $101.20 and a 200 day moving average of $102.62.

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

NetEase Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were paid a dividend of $1.08 per share. This is a positive change from NetEase’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $4.32 dividend on an annualized basis and a dividend yield of 4.19%. NetEase’s payout ratio is presently 68.09%.

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.