Bridgewater Advisors Inc. Takes $260,000 Position in NetEase, Inc. (NASDAQ:NTES)

Bridgewater Advisors Inc. bought a new stake in NetEase, Inc. (NASDAQ:NTES - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 2,447 shares of the technology company's stock, valued at approximately $260,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital World Investors increased its stake in shares of NetEase by 40.6% during the 4th quarter. Capital World Investors now owns 3,725,046 shares of the technology company's stock valued at $332,311,000 after acquiring an additional 1,074,818 shares during the last quarter. Lazard Asset Management LLC increased its stake in shares of NetEase by 2.0% during the 4th quarter. Lazard Asset Management LLC now owns 3,599,794 shares of the technology company's stock valued at $321,137,000 after acquiring an additional 69,789 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of NetEase by 7,698.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,817,021 shares of the technology company's stock valued at $289,928,000 after acquiring an additional 2,780,897 shares during the last quarter. Dodge & Cox increased its stake in shares of NetEase by 0.6% during the 4th quarter. Dodge & Cox now owns 2,649,876 shares of the technology company's stock valued at $236,395,000 after acquiring an additional 15,900 shares during the last quarter. Finally, Invesco Ltd. increased its stake in shares of NetEase by 88.0% during the 4th quarter. Invesco Ltd. now owns 2,365,464 shares of the technology company's stock valued at $211,023,000 after acquiring an additional 1,107,363 shares during the last quarter. 11.07% of the stock is currently owned by hedge funds and other institutional investors.

NetEase Trading Up 2.2%

NASDAQ:NTES traded up $2.93 during trading hours on Friday, hitting $136.12. The stock had a trading volume of 636,918 shares, compared to its average volume of 1,463,223. NetEase, Inc. has a 1-year low of $75.85 and a 1-year high of $136.88. The business has a 50 day simple moving average of $126.57 and a two-hundred day simple moving average of $109.54. The company has a market cap of $86.24 billion, a PE ratio of 19.59, a price-to-earnings-growth ratio of 4.62 and a beta of 0.69.

NetEase Announces Dividend

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

Wall Street Analysts Forecast Growth

NTES has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upped their price objective 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. Barclays increased their target price on shares of NetEase from $104.00 to $118.00 and gave the stock an "equal weight" rating in a research report on Friday, May 16th. Wall Street Zen raised shares of NetEase from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 22nd. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of NetEase in a research report on Monday, May 12th. They set a "buy" rating and a $130.00 target price for the company. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus 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.