China Universal Asset Management Co. Ltd. Purchases 3,500 Shares of NetEase, Inc. (NASDAQ:NTES)

China Universal Asset Management Co. Ltd. boosted its stake in NetEase, Inc. (NASDAQ:NTES - Free Report) by 38.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,600 shares of the technology company's stock after purchasing an additional 3,500 shares during the period. China Universal Asset Management Co. Ltd.'s holdings in NetEase were worth $1,297,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Mather Group LLC. increased its stake in NetEase by 1,415.0% in the 1st quarter. Mather Group LLC. now owns 303 shares of the technology company's stock worth $31,000 after purchasing an additional 283 shares during the period. Farther Finance Advisors LLC increased its stake in NetEase by 81.7% in the 4th quarter. Farther Finance Advisors LLC now owns 338 shares of the technology company's stock worth $30,000 after purchasing an additional 152 shares during the period. TD Private Client Wealth LLC purchased a new position in NetEase in the 1st quarter worth approximately $65,000. Toronto Dominion Bank purchased a new position in NetEase in the 4th quarter worth approximately $145,000. Finally, Pine Haven Investment Counsel Inc purchased a new position in NetEase in the 1st quarter worth approximately $206,000. 11.07% of the stock is owned by hedge funds and other institutional investors.

NetEase Stock Performance

NTES opened at $133.03 on Tuesday. NetEase, Inc. has a 52-week low of $75.85 and a 52-week high of $135.32. The stock has a market capitalization of $84.29 billion, a PE ratio of 19.14, a price-to-earnings-growth ratio of 4.63 and a beta of 0.69. The stock's 50 day moving average price is $122.83 and its 200-day moving average price is $107.59.

NetEase Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were given 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 dividend yield of 2.03%. NetEase's dividend payout ratio is presently 38.71%.

Analysts Set New Price Targets

A number of brokerages have commented on NTES. Deutsche Bank Aktiengesellschaft began coverage on NetEase in a research note on Monday, May 12th. They issued a "buy" rating and a $130.00 price target on the stock. Barclays lifted their price target on NetEase from $104.00 to $118.00 and gave the stock an "equal weight" rating in a research note on Friday, May 16th. Wall Street Zen raised NetEase from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 22nd. Finally, JPMorgan Chase & Co. boosted their target price on NetEase from $120.00 to $135.00 and gave the company an "overweight" rating in a research note on Monday, May 19th. One investment 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 MarketBeat.com, NetEase currently has a consensus rating of "Buy" and an average price target of $119.38.

NetEase 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.

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