China Universal Asset Management Co. Ltd. grew its position in NetEase, Inc. (NASDAQ:NTES - Free Report) by 38.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,600 shares of the technology company's stock after buying an additional 3,500 shares during the quarter. China Universal Asset Management Co. Ltd.'s holdings in NetEase were worth $1,297,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in NTES. Brighton Jones LLC boosted its holdings in shares of NetEase by 1.1% in the fourth quarter. Brighton Jones LLC now owns 10,297 shares of the technology company's stock worth $919,000 after buying an additional 117 shares during the period. US Bancorp DE boosted its holdings in shares of NetEase by 14.4% in the fourth quarter. US Bancorp DE now owns 7,291 shares of the technology company's stock worth $650,000 after buying an additional 918 shares during the period. Jones Financial Companies Lllp boosted its holdings in shares of NetEase by 58.4% in the fourth quarter. Jones Financial Companies Lllp now owns 3,853 shares of the technology company's stock worth $344,000 after buying an additional 1,420 shares during the period. Assetmark Inc. boosted its holdings in shares of NetEase by 2.8% in the fourth quarter. Assetmark Inc. now owns 39,555 shares of the technology company's stock worth $3,529,000 after buying an additional 1,086 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of NetEase in the fourth quarter worth approximately $2,192,000. 11.07% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
NTES has been the subject of a number of research analyst reports. Barclays increased their price target 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. Deutsche Bank Aktiengesellschaft initiated coverage on shares of NetEase in a research report on Monday, May 12th. They issued a "buy" rating and a $130.00 price target for the company. Finally, JPMorgan Chase & Co. increased their price target on shares of NetEase from $120.00 to $135.00 and gave the stock an "overweight" rating in a research report on Monday, May 19th. One equities 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 company's stock. According to data from MarketBeat, NetEase has an average rating of "Buy" and an average target price of $119.38.
Check Out Our Latest Research Report on NetEase
NetEase Price Performance
NTES traded up $0.70 during midday trading on Friday, hitting $128.28. 533,143 shares of the company's stock traded hands, compared to its average volume of 1,477,417. The company has a market cap of $81.28 billion, a PE ratio of 18.46, a price-to-earnings-growth ratio of 4.44 and a beta of 0.69. The stock's fifty day simple moving average is $124.63 and its 200-day simple moving average is $108.41. 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 disclosed 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. This represents a $2.70 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend was Friday, May 30th. NetEase's payout ratio is presently 38.71%.
About NetEase
(
Free Report)
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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