Assetmark Inc. Boosts Holdings in NetEase, Inc. (NASDAQ:NTES)

Assetmark Inc. lifted its stake in NetEase, Inc. (NASDAQ:NTES - Free Report) by 5.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 41,856 shares of the technology company's stock after purchasing an additional 2,301 shares during the period. Assetmark Inc.'s holdings in NetEase were worth $4,308,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Mather Group LLC. lifted its position in NetEase by 1,415.0% during the 1st quarter. Mather Group LLC. now owns 303 shares of the technology company's stock valued at $31,000 after acquiring an additional 283 shares during the period. TD Private Client Wealth LLC purchased a new position in NetEase during the 1st quarter valued at about $65,000. Farther Finance Advisors LLC lifted its position in NetEase by 191.7% during the 1st quarter. Farther Finance Advisors LLC now owns 986 shares of the technology company's stock valued at $105,000 after acquiring an additional 648 shares during the period. Toronto Dominion Bank bought a new position in shares of NetEase during the fourth quarter valued at $145,000. Finally, Bear Mountain Capital Inc. bought a new position in shares of NetEase during the first quarter valued at $194,000. 11.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on NTES. Deutsche Bank Aktiengesellschaft began coverage on NetEase in a report on Monday, May 12th. They set a "buy" rating and a $130.00 price target for the company. Barclays lifted their target price 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. JPMorgan Chase & Co. cut shares of NetEase from an "overweight" rating to a "neutral" rating and lifted their target price for the stock from $135.00 to $140.00 in a report on Monday. Finally, Wall Street Zen upgraded shares of NetEase from a "buy" rating to a "strong-buy" rating in a report on Thursday, May 22nd. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, NetEase presently has a consensus rating of "Moderate Buy" and an average target price of $120.00.

NetEase Stock Down 2.7%

Shares of NASDAQ NTES opened at $131.88 on Tuesday. The company has a 50 day moving average of $130.01 and a 200 day moving average of $112.12. NetEase, Inc. has a twelve month low of $75.85 and a twelve month high of $141.45. The firm has a market cap of $83.56 billion, a P/E ratio of 18.98, a PEG ratio of 4.70 and a beta of 0.69.

NetEase Announces Dividend

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. The ex-dividend date was Friday, May 30th. This represents a $2.70 annualized dividend and a dividend yield of 2.05%. NetEase's payout ratio is 38.71%.

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.

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