Bridgewater Advisors Inc. Acquires New Shares in NetEase, Inc. (NASDAQ:NTES)

Bridgewater Advisors Inc. acquired a new position in NetEase, Inc. (NASDAQ:NTES - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,447 shares of the technology company's stock, valued at approximately $260,000.

A number of other institutional investors have also recently made changes to their positions in the business. Brighton Jones LLC lifted its holdings in shares of 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 buying an additional 117 shares during the period. Concurrent Investment Advisors LLC lifted its holdings in shares of NetEase by 5.4% in the 1st quarter. Concurrent Investment Advisors LLC now owns 2,569 shares of the technology company's stock valued at $264,000 after buying an additional 132 shares during the period. Fifth Third Bancorp lifted its holdings in shares of NetEase by 2.7% in the 1st quarter. Fifth Third Bancorp now owns 5,264 shares of the technology company's stock valued at $542,000 after buying an additional 138 shares during the period. Farther Finance Advisors LLC lifted its holdings in shares of NetEase by 81.7% in the 4th quarter. Farther Finance Advisors LLC now owns 338 shares of the technology company's stock valued at $30,000 after buying an additional 152 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of NetEase by 1.6% in the 1st quarter. Bank of New York Mellon Corp now owns 9,884 shares of the technology company's stock valued at $1,017,000 after buying an additional 153 shares during the period. Institutional investors and hedge funds own 11.07% of the company's stock.

NetEase Price Performance

NASDAQ NTES traded up $2.93 during trading hours on Friday, hitting $136.12. The company had a trading volume of 636,920 shares, compared to its average volume of 1,464,312. NetEase, Inc. has a fifty-two week low of $75.85 and a fifty-two week high of $136.88. The company has a market capitalization of $86.24 billion, a price-to-earnings ratio of 19.59, a P/E/G ratio of 4.74 and a beta of 0.69. The firm's 50 day moving average is $127.23 and its 200 day moving average is $110.01.

NetEase Announces Dividend

The company 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 annualized dividend and a yield of 1.98%. NetEase's payout ratio is 38.71%.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Wall Street Zen upgraded NetEase from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 22nd. Barclays boosted their price objective on NetEase from $104.00 to $118.00 and gave the stock an "equal weight" rating in a research note on Friday, May 16th. Deutsche Bank Aktiengesellschaft assumed coverage on NetEase in a research note on Monday, May 12th. They set a "buy" rating and a $130.00 price objective for the company. Finally, JPMorgan Chase & Co. boosted their price objective on NetEase from $120.00 to $135.00 and gave the stock an "overweight" rating in a research note on Monday, May 19th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, NetEase presently has a consensus rating of "Buy" and an average target price 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.