GAMMA Investing LLC boosted its position in NetEase, Inc. (NASDAQ:NTES - Free Report) by 10,192.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,573 shares of the technology company's stock after acquiring an additional 2,548 shares during the period. GAMMA Investing LLC's holdings in NetEase were worth $265,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also added to or reduced their stakes in NTES. Brighton Jones LLC increased its position in shares of NetEase by 1.1% during the fourth quarter. Brighton Jones LLC now owns 10,297 shares of the technology company's stock valued at $919,000 after acquiring an additional 117 shares during the last quarter. Farther Finance Advisors LLC increased its position in shares of NetEase by 81.7% during the fourth 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 during the last quarter. Polar Capital Holdings Plc increased its position in shares of NetEase by 11.1% during the fourth 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 during the last quarter. Cerity Partners LLC increased its position in shares of NetEase by 5.8% during the fourth quarter. Cerity Partners LLC now owns 5,837 shares of the technology company's stock valued at $529,000 after acquiring an additional 318 shares during the last quarter. Finally, NewEdge Advisors LLC increased its position in shares of NetEase by 14.3% during the fourth quarter. NewEdge Advisors LLC now owns 3,850 shares of the technology company's stock valued at $343,000 after acquiring an additional 481 shares during the last quarter. Institutional investors own 11.07% of the company's stock.
Wall Street Analyst Weigh In
NTES has been the subject of a number of research analyst reports. Wall Street Zen raised NetEase from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 22nd. Barclays increased their price target on NetEase from $104.00 to $118.00 and gave the company an "equal weight" rating in a research report on Friday, May 16th. JPMorgan Chase & Co. increased their price target on NetEase from $120.00 to $135.00 and gave the company an "overweight" rating in a research report on Monday, May 19th. Finally, Deutsche Bank Aktiengesellschaft began coverage on NetEase in a report on Monday, May 12th. They set a "buy" rating and a $130.00 price objective for the company. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $119.38.
Check Out Our Latest Report on NetEase
NetEase Trading Down 0.0%
Shares of NASDAQ NTES opened at $128.63 on Friday. The stock has a fifty day simple moving average of $115.80 and a two-hundred day simple moving average of $104.51. NetEase, Inc. has a 1-year low of $75.85 and a 1-year high of $133.80. The firm has a market cap of $81.50 billion, a price-to-earnings ratio of 18.51, a price-to-earnings-growth ratio of 4.48 and a beta of 0.67.
NetEase Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were given a $0.675 dividend. This represents a $2.70 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend was Friday, May 30th. NetEase's dividend payout ratio (DPR) is presently 38.71%.
NetEase Profile
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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.
Further Reading
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