Ariose Capital Management Ltd Buys New Stake in NetEase, Inc. (NASDAQ:NTES)

Ariose Capital Management Ltd bought a new position in shares of NetEase, Inc. (NASDAQ:NTES - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 103,300 shares of the technology company's stock, valued at approximately $10,632,000. NetEase accounts for about 11.7% of Ariose Capital Management Ltd's investment portfolio, making the stock its 5th biggest position.

A number of other hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC boosted its holdings in NetEase by 1.1% in the 4th quarter. Brighton Jones LLC now owns 10,297 shares of the technology company's stock valued at $919,000 after purchasing an additional 117 shares during the period. Concurrent Investment Advisors LLC raised its position in NetEase by 5.4% in the 1st quarter. Concurrent Investment Advisors LLC now owns 2,569 shares of the technology company's stock worth $264,000 after purchasing an additional 132 shares during the period. Fifth Third Bancorp raised its position in NetEase by 2.7% in the 1st quarter. Fifth Third Bancorp now owns 5,264 shares of the technology company's stock worth $542,000 after purchasing an additional 138 shares during the period. Farther Finance Advisors LLC raised its position in NetEase by 81.7% in the 4th quarter. Farther Finance Advisors LLC now owns 338 shares of the technology company's stock worth $30,000 after purchasing an additional 152 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of NetEase by 1.6% in the first quarter. Bank of New York Mellon Corp now owns 9,884 shares of the technology company's stock valued at $1,017,000 after acquiring an additional 153 shares during the period. 11.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. JPMorgan Chase & Co. upped their price objective on shares of NetEase from $120.00 to $135.00 and gave the stock an "overweight" rating in a report on Monday, May 19th. Barclays increased their price objective on shares of NetEase from $104.00 to $118.00 and gave the stock an "equal weight" rating in a research note on Friday, May 16th. Wall Street Zen raised shares of NetEase from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 22nd. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of NetEase in a report on Monday, May 12th. They issued a "buy" rating and a $130.00 target price for the company. One equities research 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $119.38.

NetEase Stock Down 2.3%

Shares of NTES traded down $3.03 during trading hours on Wednesday, reaching $130.25. 670,382 shares of the company traded hands, compared to its average volume of 1,482,389. The stock has a market capitalization of $82.53 billion, a P/E ratio of 18.74, a P/E/G ratio of 4.64 and a beta of 0.69. NetEase, Inc. has a 12-month low of $75.85 and a 12-month high of $135.32. The business has a fifty day moving average price of $123.37 and a 200-day moving average price of $107.77.

NetEase Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were issued a dividend of $0.675 per share. This represents a $2.70 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date was Friday, May 30th. NetEase's dividend payout ratio (DPR) is presently 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.