Greenleaf Trust bought a new stake in NetEase, Inc. (NASDAQ:NTES - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,940 shares of the technology company's stock, valued at approximately $261,000.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. increased its holdings 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 valued at $289,928,000 after buying an additional 2,780,897 shares in the last quarter. Dodge & Cox grew its position in shares of NetEase by 5.8% in the first quarter. Dodge & Cox now owns 2,803,664 shares of the technology company's stock valued at $288,553,000 after purchasing an additional 153,788 shares during the last quarter. Hhlr Advisors LTD. grew its position in shares of NetEase by 3.1% in the first quarter. Hhlr Advisors LTD. now owns 2,668,697 shares of the technology company's stock valued at $274,662,000 after purchasing an additional 79,754 shares during the last quarter. Wellington Management Group LLP grew its position in shares of NetEase by 111.7% in the first quarter. Wellington Management Group LLP now owns 1,988,541 shares of the technology company's stock valued at $204,661,000 after purchasing an additional 1,049,023 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in shares of NetEase by 54.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,977,835 shares of the technology company's stock valued at $203,560,000 after purchasing an additional 697,192 shares during the last quarter. 11.07% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several analysts have recently commented on NTES shares. Barclays set a $120.00 price target on shares of NetEase and gave the company an "equal weight" rating in a research report on Monday, August 18th. Weiss Ratings reiterated a "hold (c)" rating on shares of NetEase in a research report on Saturday, September 27th. Arete upgraded shares of NetEase from a "sell" rating to a "buy" rating and set a $150.00 price target on the stock in a research report on Wednesday, September 3rd. JPMorgan Chase & Co. lowered shares of NetEase from an "overweight" rating to a "neutral" rating and increased their price target for the company from $135.00 to $140.00 in a research report on Monday, July 28th. Finally, The Goldman Sachs Group set a $161.00 price target on shares of NetEase and gave the company a "buy" rating in a research report on Monday, September 15th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $132.00.
Check Out Our Latest Research Report on NTES
NetEase Trading Down 1.1%
NASDAQ:NTES opened at $151.57 on Friday. The firm has a market capitalization of $96.03 billion, a price-to-earnings ratio of 20.51, a PEG ratio of 2.02 and a beta of 0.67. The firm's fifty day simple moving average is $139.82 and its 200 day simple moving average is $124.98. NetEase, Inc. has a twelve month low of $75.88 and a twelve month high of $159.55.
NetEase Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, September 11th. Investors of record on Thursday, August 28th were paid a dividend of $0.675 per share. The ex-dividend date of this dividend was Thursday, August 28th. This represents a $2.70 annualized dividend and a yield of 1.8%. NetEase's payout ratio is 30.72%.
NetEase Profile
(
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.
See Also
Want to see what other hedge funds are holding NTES? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NetEase, Inc. (NASDAQ:NTES - Free Report).
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