GAMMA Investing LLC Raises Holdings in NetEase, Inc. (NASDAQ:NTES)

GAMMA Investing LLC boosted its holdings in NetEase, Inc. (NASDAQ:NTES - Free Report) by 10,192.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,573 shares of the technology company's stock after purchasing an additional 2,548 shares during the quarter. GAMMA Investing LLC's holdings in NetEase were worth $265,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Brighton Jones LLC lifted its stake 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 valued at $919,000 after buying an additional 117 shares in the last quarter. Farther Finance Advisors LLC lifted its position in 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 acquiring an additional 152 shares in the last quarter. Polar Capital Holdings Plc lifted its position in NetEase by 11.1% in the 4th quarter. Polar Capital Holdings Plc now owns 2,397 shares of the technology company's stock valued at $214,000 after acquiring an additional 240 shares in the last quarter. Cerity Partners LLC boosted its stake in NetEase by 5.8% during the 4th quarter. Cerity Partners LLC now owns 5,837 shares of the technology company's stock valued at $529,000 after purchasing an additional 318 shares during the last quarter. Finally, NewEdge Advisors LLC increased its holdings in NetEase by 14.3% during the 4th quarter. NewEdge Advisors LLC now owns 3,850 shares of the technology company's stock worth $343,000 after purchasing an additional 481 shares in the last quarter. Institutional investors own 11.07% of the company's stock.

NetEase Stock Down 0.7%

NTES stock traded down $0.89 during midday trading on Wednesday, hitting $133.16. The company's stock had a trading volume of 672,589 shares, compared to its average volume of 1,521,516. The stock has a market cap of $84.37 billion, a price-to-earnings ratio of 19.16, a PEG ratio of 4.54 and a beta of 0.67. The stock's 50-day moving average price is $117.15 and its 200 day moving average price is $105.09. NetEase, Inc. has a 1 year low of $75.85 and a 1 year high of $134.43.

NetEase Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were issued a $0.675 dividend. This represents a $2.70 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date was Friday, May 30th. NetEase's dividend payout ratio (DPR) is currently 38.71%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on NTES shares. Wall Street Zen upgraded NetEase from a "buy" rating to a "strong-buy" rating in a report on Thursday, May 22nd. JPMorgan Chase & Co. raised their price objective on NetEase from $120.00 to $135.00 and gave the company an "overweight" rating in a research note on Monday, May 19th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of NetEase in a report on Monday, May 12th. They set a "buy" rating and a $130.00 price objective on the stock. Finally, Barclays increased their target price on shares of NetEase from $104.00 to $118.00 and gave the company an "equal weight" rating in a report on Friday, May 16th. One investment 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, NetEase has an average rating of "Buy" and an average target price 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.