Envestnet Asset Management Inc. Grows Holdings in NetEase, Inc. (NASDAQ:NTES)

Envestnet Asset Management Inc. boosted its position in NetEase, Inc. (NASDAQ:NTES - Free Report) by 16.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 74,500 shares of the technology company's stock after purchasing an additional 10,757 shares during the period. Envestnet Asset Management Inc.'s holdings in NetEase were worth $7,668,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in NTES. Mirae Asset Global Investments Co. Ltd. lifted its stake in NetEase by 7,698.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,817,021 shares of the technology company's stock worth $289,928,000 after purchasing an additional 2,780,897 shares during the last quarter. Invesco Ltd. lifted its stake in NetEase by 88.0% in the fourth quarter. Invesco Ltd. now owns 2,365,464 shares of the technology company's stock worth $211,023,000 after purchasing an additional 1,107,363 shares during the last quarter. Capital World Investors lifted its stake in NetEase by 40.6% in the fourth quarter. Capital World Investors now owns 3,725,046 shares of the technology company's stock worth $332,311,000 after purchasing an additional 1,074,818 shares during the last quarter. FIL Ltd lifted its stake in NetEase by 160.2% in the fourth quarter. FIL Ltd now owns 1,668,359 shares of the technology company's stock worth $148,834,000 after purchasing an additional 1,027,102 shares during the last quarter. Finally, Mawer Investment Management Ltd. purchased a new position in shares of NetEase during the fourth quarter worth approximately $62,593,000. Institutional investors own 11.07% of the company's stock.

NetEase Price Performance

NASDAQ NTES traded down $0.68 on Friday, hitting $135.62. The stock had a trading volume of 225,042 shares, compared to its average volume of 1,277,717. The business's fifty day moving average price is $129.44 and its 200 day moving average price is $111.25. NetEase, Inc. has a 52-week low of $75.85 and a 52-week high of $141.45. The stock has a market cap of $85.93 billion, a price-to-earnings ratio of 19.51, a price-to-earnings-growth ratio of 4.90 and a beta of 0.69.

NetEase Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were issued a $0.675 dividend. This represents a $2.70 annualized dividend and a yield of 1.99%. The ex-dividend date of this dividend was Friday, May 30th. NetEase's dividend payout ratio is currently 38.71%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on NTES shares. JPMorgan Chase & Co. raised their target price 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. Barclays raised 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. Deutsche Bank Aktiengesellschaft started coverage on shares of NetEase in a research report on Monday, May 12th. They set a "buy" rating and a $130.00 target price on the stock. Finally, Wall Street Zen raised shares of NetEase from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 22nd. 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 MarketBeat.com, the company presently has a consensus rating of "Buy" and an average 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.