GF Fund Management CO. LTD. Reduces Stock Position in NetEase, Inc. (NASDAQ:NTES)

GF Fund Management CO. LTD. reduced its stake in NetEase, Inc. (NASDAQ:NTES - Free Report) by 20.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,132 shares of the technology company's stock after selling 3,137 shares during the period. GF Fund Management CO. LTD.'s holdings in NetEase were worth $1,249,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. GAMMA Investing LLC grew its holdings in shares of NetEase by 10,192.0% during the first quarter. GAMMA Investing LLC now owns 2,573 shares of the technology company's stock valued at $265,000 after buying an additional 2,548 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new position in shares of NetEase during the first quarter valued at about $398,000. Pine Haven Investment Counsel Inc acquired a new position in shares of NetEase during the first quarter valued at about $206,000. Moseley Investment Management Inc. acquired a new position in shares of NetEase during the first quarter valued at about $206,000. Finally, TT International Asset Management LTD acquired a new position in shares of NetEase during the first quarter valued at about $21,918,000. 11.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on NTES shares. Barclays lifted their price objective 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. JPMorgan Chase & Co. boosted their price target on shares of NetEase from $120.00 to $135.00 and gave the stock an "overweight" rating in a report 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 target on the stock. Finally, Wall Street Zen upgraded shares of NetEase from a "buy" rating to a "strong-buy" rating in a report on Thursday, May 22nd. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $119.38.

NetEase Stock Performance

NTES traded up $0.65 during midday trading on Friday, reaching $133.65. The company had a trading volume of 377,753 shares, compared to its average volume of 1,495,483. The stock has a market cap of $84.68 billion, a PE ratio of 19.23, a P/E/G ratio of 4.63 and a beta of 0.69. NetEase, Inc. has a 12-month low of $75.85 and a 12-month high of $135.32. The business has a 50-day moving average price of $122.27 and a two-hundred day moving average price of $107.20.

NetEase Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were paid a $0.675 dividend. This represents a $2.70 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date was Friday, May 30th. NetEase's payout ratio is 38.71%.

NetEase Company 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.