103,300 Shares in NetEase, Inc. (NASDAQ:NTES) Bought by Ariose Capital Management Ltd

Ariose Capital Management Ltd bought a new position in shares of NetEase, Inc. (NASDAQ:NTES - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 institutional investors also recently modified their holdings of NTES. Sumitomo Mitsui Trust Group Inc. raised its position in NetEase by 20.8% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 8,685 shares of the technology company's stock valued at $894,000 after buying an additional 1,495 shares during the last quarter. GAMMA Investing LLC raised its position in NetEase by 10,192.0% in the 1st quarter. GAMMA Investing LLC now owns 2,573 shares of the technology company's stock valued at $265,000 after buying an additional 2,548 shares during the last quarter. Sequoia Financial Advisors LLC purchased a new stake in NetEase in the 1st quarter valued at $398,000. Pine Haven Investment Counsel Inc bought a new position in NetEase in the 1st quarter valued at $206,000. Finally, Moseley Investment Management Inc. bought a new position in NetEase in the 1st quarter valued at $206,000. 11.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NTES has been the subject of a number of 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. Deutsche Bank Aktiengesellschaft initiated coverage on 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. upped their price objective on NetEase from $120.00 to $135.00 and gave the company an "overweight" rating in a research note on Monday, May 19th. Finally, Barclays upped their price objective on NetEase from $104.00 to $118.00 and gave the company an "equal weight" rating in a research note on Friday, May 16th. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $119.38.

NetEase Trading Up 0.2%

Shares of NTES stock traded up $0.25 on Tuesday, hitting $133.28. 382,459 shares of the stock were exchanged, compared to its average volume of 1,487,605. The firm's 50 day moving average is $122.83 and its two-hundred day moving average is $107.59. The firm has a market capitalization of $84.45 billion, a PE ratio of 19.18, a P/E/G ratio of 4.63 and a beta of 0.69. NetEase, Inc. has a one year low of $75.85 and a one year high of $135.32.

NetEase Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were issued a dividend of $0.675 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 2.03%. NetEase's dividend payout ratio is presently 38.71%.

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.