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Advisors Preferred LLC Makes New $303,000 Investment in NetEase, Inc. (NASDAQ:NTES)

NetEase logo with Computer and Technology background

Advisors Preferred LLC bought a new stake in NetEase, Inc. (NASDAQ:NTES - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,847 shares of the technology company's stock, valued at approximately $303,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. raised its position in NetEase by 7,698.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,817,021 shares of the technology company's stock worth $289,928,000 after acquiring an additional 2,780,897 shares during the period. Invesco Ltd. raised its position in NetEase by 88.0% in the fourth quarter. Invesco Ltd. now owns 2,365,464 shares of the technology company's stock worth $211,023,000 after acquiring an additional 1,107,363 shares during the period. Capital World Investors increased its stake in shares of NetEase by 40.6% in the fourth quarter. Capital World Investors now owns 3,725,046 shares of the technology company's stock worth $332,311,000 after purchasing an additional 1,074,818 shares in the last quarter. FIL Ltd raised its position in shares of NetEase by 160.2% in the fourth quarter. FIL Ltd now owns 1,668,359 shares of the technology company's stock valued at $148,834,000 after purchasing an additional 1,027,102 shares during the period. Finally, Mawer Investment Management Ltd. bought a new stake in shares of NetEase in the fourth quarter valued at approximately $62,593,000. Hedge funds and other institutional investors own 11.07% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of NetEase in a research report on Monday, May 12th. They issued a "buy" rating and a $130.00 price target on the stock. JPMorgan Chase & Co. boosted their price target on shares of NetEase from $120.00 to $135.00 and gave the company an "overweight" rating in a research report on Monday, May 19th. Barclays boosted their price target on shares of NetEase from $104.00 to $118.00 and gave the company an "equal weight" rating in a research report on Friday, May 16th. Finally, Wall Street Zen raised shares of NetEase from a "buy" rating to a "strong-buy" rating in a report on Thursday, May 22nd. One investment analyst has rated the stock with a hold rating, seven 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 company has an average rating of "Buy" and a consensus price target of $119.38.

View Our Latest Stock Report on NTES

NetEase Stock Down 3.0%

Shares of NetEase stock traded down $4.26 during trading on Thursday, reaching $136.30. The company's stock had a trading volume of 714,683 shares, compared to its average volume of 608,085. NetEase, Inc. has a 52-week low of $75.85 and a 52-week high of $141.45. The company has a market cap of $86.36 billion, a price-to-earnings ratio of 19.61, a PEG ratio of 4.90 and a beta of 0.69. The firm's 50-day moving average is $129.44 and its two-hundred day moving average is $111.25.

NetEase Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were paid a $0.675 dividend. The ex-dividend date was Friday, May 30th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 1.98%. NetEase's dividend payout ratio (DPR) is 38.71%.

NetEase Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for NetEase (NASDAQ:NTES)

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