Handelsbanken Fonder AB Raises Holdings in NetEase, Inc. (NASDAQ:NTES)

Handelsbanken Fonder AB lifted its position in shares of NetEase, Inc. (NASDAQ:NTES - Free Report) by 13.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 502,115 shares of the technology company's stock after acquiring an additional 57,895 shares during the quarter. Handelsbanken Fonder AB owned approximately 0.08% of NetEase worth $51,678,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Farther Finance Advisors LLC boosted its holdings in shares of NetEase by 81.7% during 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. Live Oak Investment Partners acquired a new position in NetEase during the 4th quarter worth about $62,000. SBI Securities Co. Ltd. acquired a new position in NetEase during the 4th quarter worth about $110,000. Toronto Dominion Bank acquired a new position in NetEase during the 4th quarter worth about $145,000. Finally, Empowered Funds LLC acquired a new position in NetEase during the 4th quarter worth about $174,000. Institutional investors and hedge funds own 11.07% of the company's stock.

NetEase Stock Up 1.2%

Shares of NASDAQ NTES traded up $1.63 on Wednesday, reaching $132.97. 1,135,644 shares of the company's stock traded hands, compared to its average volume of 1,539,587. NetEase, Inc. has a 12 month low of $75.85 and a 12 month high of $133.70. The business's 50 day simple moving average is $110.07 and its two-hundred day simple moving average is $102.15. The company has a market cap of $84.25 billion, a price-to-earnings ratio of 20.87, a price-to-earnings-growth ratio of 3.37 and a beta of 0.67.

NetEase Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be paid a dividend of $0.675 per share. This represents a $2.70 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date is Friday, May 30th. NetEase's dividend payout ratio is 38.71%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on NTES shares. JPMorgan Chase & Co. lifted their price objective on NetEase from $120.00 to $135.00 and gave the stock an "overweight" rating in a research report on Monday, May 19th. Benchmark lifted their price objective on NetEase from $105.00 to $115.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. Morgan Stanley lifted their price objective on NetEase from $108.00 to $117.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft assumed coverage on NetEase in a research report on Monday, May 12th. They issued a "buy" rating and a $130.00 target price for the company. Finally, Wall Street Zen raised NetEase from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 22nd. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average 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.