Ariose Capital Management Ltd Takes Position in NetEase, Inc. (NASDAQ:NTES)

Ariose Capital Management Ltd purchased a new position in shares of NetEase, Inc. (NASDAQ:NTES - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 103,300 shares of the technology company's stock, valued at approximately $10,632,000. NetEase comprises about 11.7% of Ariose Capital Management Ltd's holdings, making the stock its 5th largest holding.

Other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC raised its position in NetEase by 1.1% during the fourth quarter. Brighton Jones LLC now owns 10,297 shares of the technology company's stock worth $919,000 after acquiring an additional 117 shares in the last quarter. Concurrent Investment Advisors LLC grew its stake in shares of NetEase by 5.4% in the first quarter. Concurrent Investment Advisors LLC now owns 2,569 shares of the technology company's stock valued at $264,000 after acquiring an additional 132 shares in the last quarter. Fifth Third Bancorp grew its stake in NetEase by 2.7% during the first quarter. Fifth Third Bancorp now owns 5,264 shares of the technology company's stock worth $542,000 after buying an additional 138 shares in the last quarter. Farther Finance Advisors LLC grew its stake in NetEase by 81.7% during the fourth quarter. Farther Finance Advisors LLC now owns 338 shares of the technology company's stock worth $30,000 after buying an additional 152 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings 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 worth $1,017,000 after acquiring an additional 153 shares during the last quarter. Institutional investors and hedge funds own 11.07% of the company's stock.

NetEase Price Performance

Shares of NetEase stock traded down $2.63 during trading on Thursday, hitting $127.62. 1,378,602 shares of the company's stock traded hands, compared to its average volume of 1,482,300. NetEase, Inc. has a 1 year low of $75.85 and a 1 year high of $135.32. The business has a 50-day simple moving average of $123.83 and a 200-day simple moving average of $107.92. The stock has a market capitalization of $80.86 billion, a P/E ratio of 18.36, a PEG ratio of 4.64 and a beta of 0.69.

NetEase Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were issued a $0.675 dividend. This represents a $2.70 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date of this dividend was Friday, May 30th. NetEase's dividend payout ratio (DPR) is 38.71%.

Wall Street Analyst Weigh In

NTES has been the subject of a number of research reports. Wall Street Zen upgraded shares of NetEase from a "buy" rating to a "strong-buy" rating in a report on Thursday, May 22nd. Deutsche Bank Aktiengesellschaft began coverage on shares of NetEase in a research note on Monday, May 12th. They issued a "buy" rating and a $130.00 price objective for the company. 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 note on Monday, May 19th. Finally, Barclays lifted their price objective on shares of NetEase from $104.00 to $118.00 and gave the stock an "equal weight" rating in a report on Friday, May 16th. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, NetEase currently has a consensus rating of "Buy" and an average price target of $119.38.

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.