45,300 Shares in NetEase, Inc. (NASDAQ:NTES) Bought by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of NetEase, Inc. (NASDAQ:NTES - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 45,300 shares of the technology company's stock, valued at approximately $4,662,000.

Other institutional investors have also modified their holdings of the company. Mather Group LLC. raised its stake in shares of NetEase by 1,415.0% during the 1st quarter. Mather Group LLC. now owns 303 shares of the technology company's stock valued at $31,000 after buying an additional 283 shares during the last quarter. TD Private Client Wealth LLC purchased a new position in shares of NetEase in the 1st quarter valued at about $65,000. Farther Finance Advisors LLC increased its stake in shares of NetEase by 191.7% in the 1st quarter. Farther Finance Advisors LLC now owns 986 shares of the technology company's stock valued at $105,000 after purchasing an additional 648 shares in the last quarter. Toronto Dominion Bank purchased a new position in shares of NetEase in the 4th quarter valued at about $145,000. Finally, Bear Mountain Capital Inc. purchased a new position in shares of NetEase in the 1st quarter valued at about $194,000. Hedge funds and other institutional investors own 11.07% of the company's stock.

Analyst Ratings Changes

NTES has been the subject of several recent analyst reports. Wall Street Zen upgraded NetEase from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 22nd. JPMorgan Chase & Co. lowered NetEase from an "overweight" rating to a "neutral" rating and lifted their price target for the company from $135.00 to $140.00 in a research note on Monday. Deutsche Bank Aktiengesellschaft began coverage on NetEase in a research note on Monday, May 12th. They issued a "buy" rating and a $130.00 price target for the company. Finally, Barclays lifted their price objective on NetEase from $104.00 to $118.00 and gave the stock an "equal weight" rating in a report on Friday, May 16th. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $120.00.

NetEase Trading Down 2.7%

NTES stock opened at $131.88 on Tuesday. NetEase, Inc. has a 12-month low of $75.85 and a 12-month high of $141.45. The stock has a market cap of $83.56 billion, a price-to-earnings ratio of 18.98, a PEG ratio of 4.70 and a beta of 0.69. The business's 50-day moving average is $130.01 and its 200 day moving average is $112.12.

NetEase Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were issued a $0.675 dividend. This represents a $2.70 annualized dividend and a yield of 2.05%. The ex-dividend date was Friday, May 30th. NetEase's payout ratio is 38.71%.

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.

Want to see what other hedge funds are holding NTES? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NetEase, Inc. (NASDAQ:NTES - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.