Acadian Asset Management LLC Raises Stake in NetEase, Inc. $NTES

Key Points

• Acadian Asset Management LLC increased its holdings in NetEase, Inc. by 157.1%, owning a total of 24,292 shares valued at approximately $2.50 million after purchasing 14,842 additional shares.
• NetEase announced a quarterly dividend of $0.675 per share, which represents an annualized amount of $2.70 and a dividend yield of 1.7%.
• Multiple analysts have recently upgraded their ratings on NetEase, with Arete raising it from "sell" to "buy" and setting a price target of $150.00, while overall, NetEase holds a consensus rating of "Moderate Buy".

Acadian Asset Management LLC boosted its holdings in NetEase, Inc. (NASDAQ:NTES - Free Report) by 157.1% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,292 shares of the technology company's stock after buying an additional 14,842 shares during the quarter. Acadian Asset Management LLC's holdings in NetEase were worth $2,499,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of NTES. Kayne Anderson Rudnick Investment Management LLC acquired a new stake in shares of NetEase during the first quarter valued at about $26,000. Mather Group LLC. boosted its stake in shares of NetEase by 1,415.0% during the first quarter. Mather Group LLC. now owns 303 shares of the technology company's stock valued at $31,000 after purchasing an additional 283 shares in the last quarter. TD Private Client Wealth LLC acquired a new stake in shares of NetEase during the first quarter valued at about $65,000. Farther Finance Advisors LLC boosted its stake in shares of NetEase by 191.7% during the first 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. Finally, Allianz SE acquired a new stake in shares of NetEase during the first quarter valued at about $110,000. 11.07% of the stock is owned by institutional investors and hedge funds.

NetEase Trading Down 0.6%

NetEase stock traded down $0.85 during trading on Friday, hitting $152.05. 739,772 shares of the company were exchanged, compared to its average volume of 695,921. The business's 50 day moving average is $136.66 and its 200 day moving average is $121.48. NetEase, Inc. has a 52 week low of $75.88 and a 52 week high of $159.55. The company has a market capitalization of $96.34 billion, a P/E ratio of 20.58, a PEG ratio of 2.04 and a beta of 0.67.

NetEase Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 11th. Shareholders of record on Thursday, August 28th were given a $0.675 dividend. The ex-dividend date of this dividend was Thursday, August 28th. This represents a $2.70 annualized dividend and a yield of 1.8%. NetEase's payout ratio is currently 30.72%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. The Goldman Sachs Group set a $161.00 price target on NetEase and gave the company a "buy" rating in a research note on Monday. Arete Research raised NetEase to a "strong-buy" rating in a research note on Wednesday, September 3rd. Arete raised NetEase from a "sell" rating to a "buy" rating and set a $150.00 price target on the stock in a research note on Wednesday, September 3rd. Zacks Research lowered NetEase from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 15th. Finally, JPMorgan Chase & Co. lowered NetEase from an "overweight" rating to a "neutral" rating and lifted their price objective for the stock from $135.00 to $140.00 in a research note on Monday, July 28th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, NetEase presently has a consensus rating of "Moderate Buy" and an average target price of $132.00.

NetEase Company 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.