First Trust Direct Indexing L.P. Purchases 432 Shares of NetEase, Inc. (NASDAQ:NTES)

First Trust Direct Indexing L.P. boosted its holdings in shares of NetEase, Inc. (NASDAQ:NTES) by 7.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). 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 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Victory Capital Management Inc. lifted its stake in 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 during the last quarter. Mission Wealth Management LP boosted its position in shares of NetEase by 22.8% during the 4th quarter. Mission Wealth Management LP now owns 2,764 shares of the technology company’s stock worth $257,000 after purchasing an additional 514 shares in the last quarter. Signaturefd LLC grew its stake in shares of NetEase by 6.8% in the 4th quarter. Signaturefd LLC now owns 5,223 shares of the technology company’s stock valued at $487,000 after buying an additional 334 shares during the period. Lindbrook Capital LLC increased its position in NetEase by 14.0% in the 4th quarter. Lindbrook Capital LLC now owns 1,043 shares of the technology company’s stock valued at $97,000 after buying an additional 128 shares in the last quarter. Finally, Calamos Wealth Management LLC acquired a new position in NetEase during the 4th quarter worth approximately $1,502,000. Institutional investors and hedge funds own 11.07% of the company’s stock.

Analyst Ratings Changes

NTES has been the topic of a number of analyst reports. StockNews.com downgraded shares of NetEase from a “strong-buy” rating to a “buy” rating in a report on Monday, April 29th. Morgan Stanley reduced their target price on NetEase from $135.00 to $120.00 and set an “overweight” rating for the company in a report on Friday, April 12th. Finally, HSBC dropped their price target on NetEase from $130.00 to $126.00 and set a “buy” rating on the stock in a report on Wednesday, April 24th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, NetEase presently has a consensus rating of “Buy” and an average price target of $126.00.

NetEase Stock Up 4.1 %

NTES stock opened at $103.02 on Monday. The stock has a 50-day simple moving average of $101.20 and a two-hundred day simple moving average of $102.62. NetEase, Inc. has a twelve month low of $80.79 and a twelve month high of $118.89. The firm has a market capitalization of $66.42 billion, a PE ratio of 16.27, a PEG ratio of 0.94 and a beta of 0.58.

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). The firm had revenue of $3.82 billion for the quarter, compared to analysts’ expectations of $3.96 billion. NetEase had a net margin of 28.39% and a return on equity of 24.36%. On average, equities research analysts anticipate that NetEase, Inc. will post 7.04 EPS for the current fiscal year.

NetEase Increases Dividend

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

About NetEase

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.